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Argyle Diamond Coins Sell Within a Month

Jul 6, 2017 9:57 AM   By Rapaport News
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RAPAPORT... Rio Tinto sold a set of diamond coins to an Asian buyer for $1.4 million (AUD 1.8 million) within a month of the collection’s unveiling, the miner announced Thursday.

The anonymous collector snapped up the Australian Trilogy, which features three coins, each with a colored diamond — one pink, one purple-pink and one violet — from Rio Tinto’s Argyle mine in Western Australia.

The Perth Mint created the coins together with diamantaire John Glajz, an authorized partner of Argyle Pink Diamonds — meaning he is permitted to sell stones from the iconic mine. The collaboration has also seen the creation of several limited-edition gold-and-pink-diamond bars and coins during the past five years, which have been in demand among investors and collectors, Rio Tinto said.

“We have seen, and continue to see, strong demand from this high end of the luxury market,” Glajz commented. “The coveted Australian Trilogy speaks the language of exclusivity, desirability and collectability.”

The Argyle mine produces the vast majority of the world’s supply of rare pink diamonds, Rio Tinto said. However, it added, less than 0.1% of the diamonds the mine produces are pink. The company expects the asset to last until 2020.
Tags: Argyle, Argyle mine, Australia, Australian Trilogy, Diamond coins, of Argyle Pink Diamonds, Rapaport News, Rio Tinto sold
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