New York was given a rare taste of Aussie gold overnight with a one-off visit from the Perth Mint’s one-tonne coin.
The mint transported the record-beating, 99.99 per cent pure gold coin to the Big Apple under tight security to celebrate the official launch of its physical gold exchange-traded fund on the New York Stock Exchange.
The coin, worth about $64 million, was displayed at Experience Square, on the corner of Wall and Broad streets, just outside the world famous New York Stock Exchange for the day.
The mint’s chief executive, Richard Hayes, was given the honour of ringing the closing bell to end the day’s trade.
“To bring our award-winning coin and our first exchange-traded fund to the world’s largest financial market is something my colleagues in the Australian gold mining industry, at the Perth Mint, and I are particularly proud,” Mr Hayes said.
The coin’s visit coincides with record Australian-dollar gold prices and six-year highs for the US dollar price.
The Perth Mint Physical Gold ETF began trading on the NYSE in August last year and has delivered a return of about 14 per cent in its first year.
Every AAAU share is backed by physical gold stored in the mint’s central bank-grade vault in East Perth.
AAAU investors can exchange parts or their entire holdings for a delivery of physical gold to their door at any time.
The physical gold that backs each AAAU share is guaranteed by the WA Government, which owns the mint.
Australia is the world’s second biggest gold producer and the leading exporter of newly mined gold.
Processing nearly all the country’s gold output, Perth Mint is the biggest refiner of newly mined gold globally and one of the top five suppliers of bullion to international markets.