Massive gold coin auctioned for 7.7m yuan in Beijing
Updated: 2011-05-16 15:49
BEIJING -- A 10-kilogram gold coin, the largest ever minted in China, has been auctioned for 7.70 million yuan ($1.18 million) at an auction in Beijing.
The coin is 99.99 percent gold, with a par value of 30,000 yuan. It combines both traditional and modern markings, making it highly valuable for collectors, he said.
Gold and silver coins have become more popular in recent years for their surging prices and ability to resist inflation. A 5-kilogram commemorative coin issued by China was auctioned for 10.30 million yuan in Japan last April, said Guo.
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