July 21, 21
(IDEX On-line) – The preliminary providing of the world’s first fungible diamond commodity providing – a sealed plastic coin of round 4.5 carats – was 50 per cent over-subscribed, says the corporate that launched them.
New York-based Diamond Normal says it has offered the primary batch of 5,000 cash to traders, and will now make an extra $50m of cash out there.
Every coin (pictured) comprises “a set of licensed pure diamonds with similar geological shortage” throughout a variety – D to L colour, flawless to SI2 readability, VG to EX GIA lower scale, from 0.21-carats to 0.75-carats.
The cash are traded as the primary regulator-approved diamond commodity and their value fluctuates.
The second providing of cash is capped at $50m. These offered within the first of 5 $10m sequence will probably be priced at $5,750. Subsequent sequence will probably be priced based on prevailing diamond values.