Rio Tinto announced the existence of the world’s first coin which features a rare red diamond from the Argyle Diamond Mine. The coin is known as the Kimberley Treasure and is being put up on sale for AUD$1million.

The 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 Kimberley Treasure is available for sale from The Perth Mint.