Perth Mint Releases Rare Coin Worth $2.5 Million

Published September 5th, 2018 - 03:00 GMT
Discovery' is the most exclusive and notable coin (Twitter)
Discovery' is the most exclusive and notable coin (Twitter)

A rare one-of-a-kind coin that is worth close to $2.5million has been released by The Perth Mint.

'Discovery' is the most exclusive and notable coin released by the mint to date.

The collectable coin, valued at $2.48million, was a collaboration with Argyle Pink Diamonds' partner, John Glajz, who is based in Singapore.

The coin tells the story of two of Australia's natural riches.

Western Australia's Minister for Mines and Petroleum unveiled the coin earlier today.



Bill Johnston said: 'It gives me great pleasure to unveil an Australian coin which showcases our country's prized treasures and the talents of our craftsmen and women who have transformed them to form a collectors' item of such significance.'

The coin was inspired by the holey dollar, which was Australia's first official currency in 1814, and tells the story of Australia's early prospectors search for gold and Discovery's outer-coin has a sailing ship and a rowboat being ferried to shore as well as a man panning for gold outside of a miner's tent.

The coin has two beautiful pink diamonds on it, along with the Kimberley region and a boab tree and kangaroos

While the inner coin, otherwise known as the heart, has two more pink diamonds which marks the location of Ophir, where gold was first found, and the Argyle Diamond Mine.

Discovery is made of 99.99 per cent pure gold and weighs a whopping two kilograms.

The diamonds are worth $1.7million and two of the stones are from the Argyle Pink Diamond Signature Tender, the largest diamond is 1.02 carats.

There were seven versions of the coin before the Perth Mint settled on the current version.

Perth Mint chief executive Richard Hayes said that the coin was released in response to the demand for exclusive items.
He said: 'Discovery is just that, a collectors' item of distinction.

'The coin showcases rare pink stones handset in the most famed of precious metals, telling the inspirational rags to riches tales of mining for these prized resources.'

The coin has been issued as legal tender of Australia.

Discovery will remain at the Mint until September 28 - unless it is sold before then.

The coin is expected to go to a buyer in Asia or the Middle East, according to the ABC.


This article has been adapted from its original source.

© Associated Newspapers Ltd.

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