Log In

Reset Password

Diamond Standard Bar’s $75m initial offering gets green light

Diamond Standard has received regulatory approval from the Bermuda Monetary Authority to launch the $75 million initial offering of the Diamond Standard Bar.

Offered at $67,200, the price changes weekly with the market value of the diamond commodities, and will continue until $75 million worth is sold.

The Diamond Standard bar is the world's second regulator-approved, exchange tradable, fungible diamond commodity, after the Diamond Standard coin, which launched last year.

The company said that offering was oversubscribed with $40 million in orders, versus a regulatory limit of $25 million.

Since the launch of the coin, their value has appreciated by 34 per cent, and like gold, new coins are sold at the market price, the company said.

The initial offering of the bar is a one-time event. Proceeds from the sale are used to purchase a statistical sample of natural diamonds to discover their value along the earth's "yield curve" of carat weight, colour and clarity.

Diamond Standard said this will establish the permanent index of the content to be contained in every bar ever made. The diamonds will range from 0.76 to 2.05 carats each, to create bars worth 10 times a coin, which contains 0.18 to 0.75 carat stones.

"Investors hold at least 15 per cent of the above-ground supply of each precious metal," said Cormac Kinney, founder of Diamond Standard.

"Now that they are available as a fungible coin and bar, we expect that to become true for natural diamonds as well. By participating early, you can 'Invest Brilliantly'."

Precious commodities: Cormac Kinney with examples of the diamond bar and diamond coin (Photograph by Duncan Hall)

You must be Registered or to post comment or to vote.

Published March 09, 2022 at 7:40 am (Updated March 09, 2022 at 7:40 am)

Diamond Standard Bar’s $75m initial offering gets green light

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon