A SPANISH PRECIOUS METALS TRADING COMPANY BOUGHT THE WORLD'S LARGEST GOLD COIN FOR £2.68 MILLION, ITS EXACT GOLD WEIGHT WORTH, FROM THE ESTATE OF AN INSOLVENT INVESTMENT FIRM AT A RARE AUCTION IN VIENNA ON FRIDAY. THE 220.5 lb PIECE, ONE OF ONLY FIVE $1,000,000 GOLD MAPLE LEAF COINS THE ROYAL CANADIAN INT HAS EVER PRODUCED, WAS BOUGHT ALMOST INSTANTLY IN A WRITTEN BID FROM ORO DIRECT, A GOLD TRADING COMPANY BASED IN MADRID. THERE WERE NO COUNTER OFFERS IN THE AUCTION ROOM THAT WAS PACKED WITH MORE JOURNALISTS THAN POTENTIAL BUYERS. THE AUCTION WAS ORDERED BY THE ADMINISTRATOR OF AUSTRIAN INVESTMENT GROUP AVW INVEST, WHICH FILED FOR INSOLVENCY IN MAY AFTER ITS OWNER AND CHIEF EXECUTIVE WAS ARRESTED ON SUSPICION OF FRAUD, BREACH OF TRUST AND OTHER CHARGES. AVW HAD ACQUIRED THE COIN IN 2007, JOINING AN EXCLUSIVE CLUB OF OWNERS INCLUDING QUEEN ELIZABETH, WHO IS ALSO DISPLAYED ON ONE SIDE OF THE COIN, TWO UNIDENTIFIED IN INVESTORS IN DUBAI AND ONE WHO IS SO RECLUSIVE EVEN HIS NAME AND PLACE OF RESIDENCE IS UNKNOWN. AVW HAD LENT THE COIN, 21 INCHES IN DIAMETER AND ONE INCH THINK, TO VIENNA'S KUNSTHISTORISCHES MUSEUM WHERE IT HAD BEEN ON DISPLAY AS PART OF ITS COIN COLLECTION. ITS PURITY IS 99.999 PERCENT, THE PUREST TYPE IN THE MARKET. THE ROYAL CANADIAN LAUNCHED THE COIN IN 2007 TO SHOWCASE ITS PRODUCTION FACILITIES AND STEAL THE ENTRY IN THE GUINNESS BOOK OF WORLD RECORDS FOR THE WORLD'S LARGEST COIN.
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