COMMODITY FETISH 

The mint's one-kilogram platinum coin fetches more than $1.2 million at auction


OTTAWA — A one-kilogram platinum coin encrusted with hundreds of diamonds fetched more than $1.2 million at auction.



The Heffel Fine Art Auction House says an anonymous buyer took the Royal Canadian Mint's "The Ultimate" piece after heated bidding Tuesday.

Heffel says the price, which includes auction house fees, exceeded the pre-sale estimate of between $700,000 and $900,000 to set a new record for a coin offered at auction in Canada.

"The Ultimate" has a face value of $2,500 is made of 99.95 per cent pure platinum and has a rose-gold-plated rim.

The piece is engraved with a cherry blossom design by Canadian artist Derek Wicks.

A total of 462 pink diamonds embellish the petals of dozens of flowers that converge into a central bloom.

This report by The Canadian Press was first published June 1, 2022.