China just released a 10 Kilo Gold Coin to commemorate the 2008 Olympics that are currently being held in Beijing. 10 kilos of .9999 Fine gold is a staggering 321 ounces, more than 22 pounds and its more than a half foot in diameter! Not only is it the largest gold coin, it’s the rarest as well: Only 29 have been struck for the entire world and all have been sold.

This spectacular museum piece is housed in an exotic African Blackwood presentation case, which is crowned with a 35 pound carved stone dragon. The coin is legal tender with a face value of 100,000 Yuan and is Proof struck, which means it has an ultra-high relief, frosted design set against a flawless mirror background.

A company in the US is currently selling it for a whopping $1 million! That’s right One Million Dollars!! Considering that it contains 321 ounces, and each ounce sells for $960, that means its worth about $308,000. Charging $1 million for it is a bit too steep a premium, but considering that there are only 29 in existence, I can see the lure of owning something rare appealing to many people. Especially those people with a lot of money and not enough places to spend it! If I had a million bucks to spend on gold, I’d buy the 100 Kilo Canadian Maple Leaf instead. And this coin cotains .99999 pure gold!

But since I don’t have a million dollars lying around, I’d rather keep on buying my 200 year old Napoleon 1st French gold coins for under $500 each! I don’t know if the Chinese will be minting any more of these Olympic gold coins, but I’m positive Napoleon 1st is definitely done minting his collection! I already have several of these, and they’re really quite spetacular.