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Tiara Gems Buys Million-Dollar Kimberley Treasure
Jul 20, 2016 4:00 AM
By Rapaport News
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 RAPAPORT... Rio Tinto sold its Kimberley Treasure gold and diamond coin to Tiara Gems and Jewellery, a Dubai-based company specializing in rare fancy color diamonds and collectibles.
The “million-dollar coin,” which is made up of one kilogram of 99.99 percent fine gold and dons a radiant cut, 0.54-carat red diamond from the Argyle mine in Australia, was snapped up within 48 hours of becoming available for sale.
Rio Tinto did not disclose the actual sale price, but had last week put a $762,280 (AUD 1 million) price tag on the piece, billed as the first coin with a rare red diamond from Argyle.
“We have seen and continue to see strong demand from this high end of the luxury market,” said Simon Trott, managing director of Rio Tinto Diamonds.
The Perth Mint collaborated with John Glajz, an authorized partner of Argyle Pink Diamonds, to make the coin. The two have partnered to create a number of special gold and pink diamond ingots and coins in the past five years, “which have been in strong demand from investors, collectors and diamond experts,” Rio Tinto said.
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Tags:
Argyle, diamonds, gold, Gold coin, Rapaport News, Rio Tinto, Tiara Gems and Jewellery
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