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Australian Coin Dons Rare Red Diamond

Any article that contains “red diamond” catches our eye. Not only is it a stunning gem to behold but its very rare. (According to reports, red diamonds will become even more rare and and their price is expected to double in the next couple of years.)

Known as The Kimberley Treasure and for sale at AU$1 million, the breath-taking collectable has been crafted from one kilogram of 99.99% fine gold, and features a radiant cut 0.54 carat red diamond unearthed from Rio Tinto’s Argyle Diamond Mine in the east Kimberley region of Western Australia.

Unveiled by the Premier of Western Australia, the Honourable Colin Barnett MLA, The Kimberley Treasure is issued as legal tender under the Australian Currency Act 1965.

Simon Trott, managing director of Rio Tinto’s diamonds business said “We are delighted to collaborate with The Perth Mint on the exclusive release of this distinctive investment piece. It is a beautiful symbol of the unique treasures of Western Australia and sets a new benchmark in limited edition craftsmanship.”

The Argyle Diamond Mine produces a very small proportion of rare pink diamonds and an even smaller proportion of rare red diamonds. On average one carat of rare red diamonds a year is produced from the Argyle mine.