Australia has unveiled the world's largest gold coin, weighing a massive 1,000 kg, to mark the visit of Queen Elizabeth II.

The Perth Mint produced it in time for the Queen's visit to Western Australia for the Commonwealth heads of government meeting.

The coin has a kangaroo on one side and the Queen's profile on the other. It is nearly 80 cm in diameter and 12 cm thick.

Perth Mint CEO Ed Harbuz said making it was an incredible challenge, one which few other mints would even consider.

The Australian coin is five times heavier than the world's previous largest gold coin, made by the Royal Canadian Mint, the BBC reported. We thought well, we'd better make it so much bigger that it'll stay the biggest coin in the world for a long time, Harbuz said.

“The giant coin is a magnificent Australian icon symbolising one of the most extraordinary accomplishments in its 112-year history,” a statement on the Mint's Web site said.

Australia's coin is 99.99 percent pure and has a nominal value of $1 million Australian (US$1,061,000). The gold itself is worth more than $50 million Australian.