Australia Mints its Most Valuable Coin -2018

Australia Mints its Most Valuable Coin -2018

Australia’s Perth Mint on Tuesday presented a gold coin encrusted with rare pink diamonds worth 2.48 million Australian dollars ($1.8 million, €1.65 million) to meet growing demand for high-end collectibles .

The 2-kilogram treasure, which depicts a sailing ship, a gold prospector and boab trees found in Western Australia (WA), is considered legal tender and will be sold to the highest bidder.

‘Rags-to-riches tale’

It was “released in response to the distinct increase in demand for exclusive luxury items,” said Perth Mint Chief Executive Richard Hayes.

“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.”

Called “Discovery,” it was modeled after the “Holey Dollar,” one of Australia’s first coins, which  fetched 495,000 Australian Dollars in 2013.