New diamond-studded Canadian coin comes with $128,000 price tag

Canada has released an ultra-rare coin studded with diamonds, and it costs as much as a down payment on a home.

The new coin is part of the Opulence Collection, a pair of luxury designs available in Canada and features rare precious metals such as platinum and yellow gold. But while the design is certainly impressive, it's the price of the most expensive design that would make the average Canadian do a double-take.

According to the Royal Canadian Mint, the Brilliance 10 oz Pure Platinum Coin costs an eye-watering $127,999.95. For perspective, the Financial Consumer Agency of Canada states that the minimum down payment for a home that costs around $1.5 million is 10 per cent, or around $150,000.

Photo: Royal Canadian Mint.

If you can't quite manage the full amount, don't worry — you can buy the coin in six-month installments for $21,333.33 per month.

So, what justifies the $127,999.95 price tag?

Photo: Royal Canadian Mint.

The coin features a gold-plated Canada lily, which is bejewelled with 23 yellow diamonds: 14 pear cut and nine round cut, with a minimum total carat weight of 6.13. The rare diamonds are sourced from the Ekati Diamond Mine, owned and operated by Burgundy Diamond Mines, in Canada's Northwest Territories.

The coin is made with 99.95 per cent pure platinum and features a laser-engraved design. The coin has a face value of $1,250. And with only 10 of these coins available, you can be sure that it's a truly rare collector's item.

However, if your budget for precious coins is perhaps a little closer to the cost of a luxury vehicle, there's the Radiance 1 oz Pure Gold Coin, which costs $38,999.95.

The coin also features the Canada lily that's adorned with six marquise-cut fancy yellow diamonds with a minimum total carat weight of 1.14. The coin has a face value of $200, and only 30 of these coins will be available.

With their extremely low mintage, you might want to buy one soon before you miss the chance. As for the rest of us, we'll stick to collecting spare change.