The Perth Mint unveils its most expensive gold coin ever. On September 4th, 2018 Perth showed off its two kilograms or 4.4 lbs gold coin they call Discovery to the rest of the world. This Australian gold coin is a .999 quality gold coin encrusted with four pink diamonds that are worth more than $1.8 million. This coin was created to meet the demand by the ultra-rich for high-end, exclusive collectables. The Perth Mint is famous worldwide for creating high quality coins that end up becoming sought after coins amongst collectors. The coin shows off a ship a gold prospector and baobab trees and is considered legal tender. So far, it is the most valuable coin ever created by Perth mint or any Australian mint and will be sold to the highest bidder.

According to Perth mint, the coin depicts an inspirational rags to riches tale that is all too common in the gold industry in Australia. The coin is expected to be sold to Asian or Middle Eastern buyers. It’s no secret that Asians and Middle Eastern people are more inclined to acquiring the most expensive gold items as they hold gold in high regard. The most attractive aspect about the gold coin is of course the diamonds which are even more expensive because they are pink. The diamonds themselves were mined from the world renowned Argyle Mine located in a region known as the Kimberley region in the remote part of Western Australia.

The four diamonds could easily be an entire year’s production for the mine making this much more valuable and giving the coin a definite appreciation with time. Coloured diamonds are more expensive than clear diamonds, pink or red diamonds particularly are worth over 50 times more than white diamonds. Pink diamonds are found in special places, a handful of precious gems miners find Pink diamonds. Rio Tinto is known as the one mining company that mines most pink diamonds. The fact that the stones used in Discovery were discovered in a remote mine, not known for prolific diamond production. Rio Tonto itself holds a pink diamond sale every year that draws a lot of global attention. Most of the stones that go on sale fetch no less than $1 million carats.

Because of their rarity and the appreciation of gold, the coin is the best investment anyone can make.

“Discovery” is not the first expensive coin minted by the Perth Mint. Over the years, the Mint has produced some spectacular coins for discerning lovers of fine, luxury items. Some people buy gold bullion simply as an investment, others buy bullion coins to add to their collections whilst others will buy that one special coin no one is likely to ever have. These special, once in a lifetime coins are so rare and so expensive that the buyer’s names are kept a secret and the sale kept a secret. The “Discovery” coin was modelled from the “Holey Dollar” which has been the Degas or Monet of the coin collection world sold to a private collector for $AUD 495,000 in 2013. There might be more than one Holey Dollar out there, but the “Discovery” is a unique coin that will attract special investors.

Source:

1. http://coinsblog.ws/2018/09
2. https://investopress.com/australia-most-valuable-legal-tender-collector-coin