Argyle Coin Featuring Red Diamond Valued at Over $700,000
Red diamonds are the rarest of all fancy color diamonds, which is why this color diamond was chosen to adorn this year’s Argyle Coin, said to be worth approximately $761,020 or one million Australian dollars. The 0.54-carat diamond alone is valued at nearly $550,000 since at $1.3 million to $1.4 million per carat; even the smallest red diamond will cost you an arm and a leg. The gold coin adds another $32,000 or so, with the remaining sum going toward overhead such as labor and production costs. Dubbed the ‘Kimberley Treasure,’ the coin is intended as an investment piece and is not the first of its kind to be released.
The 2.2-pound (1 kg) coin was released by Perth Mint in collaboration with Rio Tinto and is believed to be the most valuable coin of its kind in history. Made from almost 100% pure gold (99.99% to be exact), the cherry on top is most definitely the red diamond, which according to Perth Mint Chief Executive, Richard Hayes, is one of a select few that are mined each year. In fact, Argyle pink diamonds are so rare that an entire year’s worth of stones above 1.00 carat can fit into the palm of one’s hand. And red diamonds are even rarer than those! An image of a kangaroo holding the red stone is etched upon the coin with the words “Australian Kangaroo” written above it, and “2016 1 Kilo 9999 Gold” inscribed beneath it.
While the ‘Kimberley Treasure’ is certainly unique and valuable, it is not the only coin to be released by Rio Tinto. Just a few months back, 40 coins known as the ‘Kimberley Sunset’ coins were introduced to the world. Each one of these coins was crafted from rose gold and consisted of a pink diamond weighing between 0.035 and 0.045 carats. Similar to the kangaroo displayed upon the ‘Kimberley Treasure,’ an animal native to Australia, the ‘Kimberley Sunset’ showcased a boab tree, a tree from Australian culture. These coins contained only 2 ounces of pink gold in contrast to the 2.2 pound yellow gold ‘Kimberley Treasure.’ It’s no wonder the price tag on the Sunset editions was $9,000.
Another collaboration between Rio Tinto and Perth Mint was in the form of ingots, which interestingly enough also included an image of the Australian boab tree and pink diamonds. 168 of these ingots were created, each priced at $4,000. The rose gold bar is the size of a credit card and weighs one ounce.
With the official launch of the Argyle Tender around the corner, the ‘Kimberley Treasure’ coin will surely stir up some curiosity and excitement, as the world anticipates the reveal of the an extraordinarily rare violet diamond, which is the centerfold of the tender. Though the diamond industry may be experiencing some bumps, it’s stones like these that keep the ball rolling.
The Argyle mine is scheduled to close in the coming years. Take a look through our collection of Argyle diamonds, and get them while these stones are still available!