Canada has a new coin design that's fit for a king, and it has an expensive price tag to match.

The Royal Canadian Mint recently released "The Crowns," a $200 pure gold coin, to mark the anniversary of King Charles III's coronation, which was on May 6, 2023.

It's the first-ever appearance of the Canadian Royal Crown on a coin.

According to the Mint, the Royal Crown is the heraldic emblem that represents the monarchy in Canada, the state's power, and the Sovereign's authority.

The Canadian Heraldic Authority created the new design for the Royal Crown in April 2023, which was approved by King Charles for use.

The design

The Royal Canadian Mint

The Mint says the design "speaks to this country's history and identity through its distinctly Canadian elements—from the maple leaves that line the Crown's rim, to the snowflake that resembles the insignia of one of our highest honours."

You'll see the Royal Crown on the reverse side, alongside the stylized St. Edward's Crown, which was the headpiece worn by King Charles during his coronation.

The coin is striking and made of 99.99 per cent pure gold. Aside from the crowns, its reverse is ornately framed by national symbols that the Mint says represent the "deep historic, cultural and sovereign ties between Canada and the United Kingdom."

How can you collect the coin?

Unfortunately, this is not a circulation coin, so you will have to pay a pretty penny to add it to your collection.

It costs a steep $4,699.95 and can be ordered on the Mint's site. If you have the budget for it, the coin will be sent to you in a black Royal Canadian Mint-branded clamshell with a black beauty box.

Don't have that money lying around? Not to worry! You can also pay for it in instalments of $783.33 a month.

The coin is limited to a mintage of only 425, so grab it if you can.