Argyle Diamond Coins Sell Within a Month

By Rapaport News / July 06, 2017 / / Article Link

RAPAPORT... Rio Tinto sold a set of diamond coins to an Asian buyer for $1.4million (AUD 1.8 million) within a month of the collection's unveiling, theminer announced Thursday.The anonymous collector snapped up the Australian Trilogy,which features three coins, each with a colored diamond - one pink, onepurple-pink and one violet - from Rio Tinto's Argyle mine in Western Australia.The Perth Mint created the coins together with diamantaire JohnGlajz, an authorized partner of Argyle Pink Diamonds - meaning he is permittedto sell stones from the iconic mine. The collaboration has also seen thecreation of several limited-edition gold-and-pink-diamond bars and coins duringthe 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 thishigh end of the luxury market," Glajz commented. "The coveted AustralianTrilogy speaks the language of exclusivity, desirability and collectability." The Argyle mine produces the vast majority of the world'ssupply 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 tolast until 2020.