Wednesday, July 20, 2016

This $1 million Australian coin sold just 2 days after it went on the market

At $A1 million, perhaps this coin made by the Perth Mint is small change for an Emirati sheikh driving his Bugatti Veyron around Dubai.  But even the mint's CEO, Richard Hayes, sounded a little surprised when the coin - made from 1kg of 99.99% pure gold, and with a 0.54 carat red diamond from Rio Tinto’s Argyle mine in Western Australia embedded in it - sold within 48 hours of going on the market last week.

The coin, dubbed the Kimberley Treasure, is legal tender in Australia because it has Queen Elizabeth's effigy on the "heads" side, and a red kangaroo holding the gemstone on the "tails" side".

The Kimberley Treasure sold to Tiara Gems and Jewellery DMCC chairman Ashish Vijay Jain, who plans to show off his newly prized possession in Dubai. “We are honoured to bring this prestigious collectable to Dubai, the luxury hub of the Middle East,” Jain said in a statement on news of the sale."


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