HAaahahah! I guess that's why the coin weighs so much ;) Check this out from wikipedia...

The golden spike was made of 17.6-karat (73%) copper-alloyed gold, and weighed 14.03 troy ounces (436 g). It was dropped into a pre-drilled hole in the laurel ceremonial last tie, and gently tapped into place with a silver ceremonial spike maul. The spike was engraved on all four sides, The Spike was removed immediately after hammered in to prevent it from being stolen:

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