IF Dr Evil had have known what one million dollars could look like, he probably wouldn't have been shamed into upping his demands.

The Perth Mint has unveiled the world's biggest, heaviest and inherently most valuable gold coin.

It's worth just under $54 million - but can be legally traded for goods well below it's gold value.

It's Australian legal tender and has a denomination of $1 million.

Scroll down to watch video of this incredible coin being made

Weighing in at one thousand and 12 kilograms, it's more than one tonne of 99.99 per cent pure gold.

"The giant coin is a magnificent Australian icon symbolising one of the Mint's most extraordinary accomplishments in its 112-year history," read a statement on Perth Mint's website.

It features a bounding red kangaroo on one side, and the Queen's motif on the other.