In honor of the much-anticipated festive season, German gold dealer Pro Aurum has erected the most expensive Christmas tree in Europe. The unusual decoration is made of gold coins worth €2.3 million ($2.6 million).
According to the dealer, the tree could’ve been worth more, but gold’s value declined during the second half of the current year.
“Gold is at any rate an asset class that has experienced a revival in the last few years. We’ve had a crisis of public debt, the financial crisis, we have increasing inflation at the minute and very low interest, and the bottom line is that means a negative real interest, which leads to many people investing part of their line of fixed assets in gold,” Pro Aurum spokesperson Benjamin Summa said.
“The worth of gold is growing – a few months ago it fell significantly, in euro too – but that means that people are taking introductory courses and buying more gold,” Summa added.
The glittering pyramid, displayed at Pro Aurum’s Munich Goldhaus, is three-meters high (almost 10 feet). The ‘tree’ was made in cooperation with the Austrian mint. The company’s employees spent more than an hour decorating the art object with 2,018 gold coins and topped it with a golden star.
“The tree is almost three meters high and is made of 63 kilograms of pure gold. That’s 2,018 1-ounce-coins of Gold Philharmonic. It’s a commercial quality bullion coin – well, 2,018 of them – and the tip of the gold tree is formed with a 20 ounce Vienna Gold Philharmonic coin, which alone is worth €21,000,” the spokesman said.