(IDEX Online) - The company behind the first regulator-approved diamond commodity is now offering investors a higher-value diamond bar, in addition to the coins it launched last year.
New York-based Diamond Standard says it has received regulatory approval for the 70mm by 35mm transparent bar containing "a set of certified natural diamonds with identical geological scarcity".
They each have an initial value of $67,200 and their price will fluctuate with the markets. Diamond Standard is selling $75m of bars.
Each bar contains a selection of diamonds from 0.76 to 2.05 carats each. They have a launch value of 10 times the Diamond Standard coin, which contains 0.18 to 0.75 carat stones.
The coins have appreciated by 34 per cent since since the $25m IPO in March 2021.
Diamonds in the bars are bought from 150 vendors worldwide and are graded by GIA.
Diamond Standard bids on millions of varieties of diamonds using an automated market-making system, raising bids until statistically valid samples of diamonds are purchased-forcing price discovery.
Pic shows a diamond bar and coin