Perth Mint unveils world-first $1 million coin

Perth Mint unveils world-first $1 million coin

A WORLD first coin unveiled at Perth Mint today could be yours for a cool $1 million.

The Kimberly Treasure coin, the first to feature a 0.54 carat red diamond from the Argyle diamond mine, was crafted from 1kg of 99.99 per cent pure gold.

The design portrays a circular pattern of stylised sunbeams surrounding a red kangaroo holding the scarlet gemstone between its paws.

It also features Her Majesty Queen Elizabeth II, confirming its status as legal tender.

Premier Colin Barnett said at the unveiling the collectable item would make a great gift.

“I don’t know who will buy it, someone will buy it; it will make a lovely gift,” he said.

Mr Barnett weighed in on the state of the gold and mining industries.

“Late in 2015 I made the comment that in my view this upcoming year 2016 would be a year of consolidation in the WA economy and particularly the mining industry, which has been through a huge high and then a low,” he said.

“I think I can now say that’s proven to be correct.

“The mining industry has (recently) been a lot more stable.

“Oil and gas prices are looking fairly stable and gold is having a resurgence.”

He said last year produced 193 tonnes of gold worth $9.6 billion.

Perth Mint chief executive Richard Hayes said the coin was the pinnacle of the eight-year collaboration between Argyle Pink Diamonds and Perth Mint

“Argyle Pink diamonds were so rare that an entire year’s worth will literally fit into the palm of your hand,” he said.

The coin will be on display until late August.