About the size of an extra-large pizza, The Royal Canadian Mint has released unveiled a monsterous gold coin worth $1 million. It is said to be "the world's biggest, purest and highest demomination coin." The coin weighs in at 100 kilograms (220. pounds) and will be mass produced at its Ottawa plant. However, if you are interested in one, you better act fast since they will be produced in very limited quantity.
Implications - The recession hit many consumers hard, but that doesn't mean that a luxury class doesn't exit. Some consumers actually profited during the economy collapse and as such, businesses that cater to that niche market will still see a loyal consumer base willing to spend.
Canada Unveils $1 Million Coin
Canada Unveils $1 Million Coin
Trend Themes
1. Luxury Market - Businesses that cater to the luxury market will continue to see a loyal consumer base willing to spend.
2. Collectible Coins - The production of limited edition, high-value coins can attract collectors and enthusiasts in the market.
3. Alternative Investments - Investors looking for alternatives to traditional investments may consider investing in high-value coins for potential returns.
Industry Implications
1. Luxury Goods - Luxury goods retailers can capitalize on the loyal consumer base in the luxury market.
2. Numismatics - The numismatics industry can benefit from the production and sale of collectible coins.
3. Investment Banking - Investment banks can offer high-value coins as alternative investment options to their clients.