The De Beers-owned International Institute of Diamond Grading & Research (IIDGR) announced on Tuesday that it will provide diamond verification services for an investment diamond product called Diamond Bullion from the Singapore Diamond Mint (SDM). Diamond Bullion is listed on the Singapore Diamond Investment Exchange (SDiX).
The SDM, which was established just this year, produces the Diamond Bullion, a credit card-sized package of ‘investment-grade’ polished diamonds in a tamper-resistant sintered zirconia case. The investment product is available in two case colours of Silver and Gold of standard denominations of approximate values of $100,000 and $200,000 respectively, which SDM says global accredited and expert investors can trade on the SDiX.
The IIDGR said it will use its proprietary diamond inscription technology to inscribe a unique identification number on the tables of each diamond used in the Diamond Bullion, which will confirm the natural origin of each diamond sealed in the bullion.
Once inscribed, the diamonds are transferred into the bullion by SDM and verified by IIDGR via a master report that confirms the bullion meets with SDiX’s product specifications, prior to it being traded on the SDiX.
IIDGR President Jonathan Kendall said, “We’re delighted to be providing our diamond verification and proprietary inscription services for this exciting new initiative.”
Alain Vandenborre, Founder and Executive Chairman of SDiX, and Director of SDM, said, “The unique inscription that IIDGR places on every diamond inside the Diamond Bullion allows all of the diamonds to be tracked and verified, providing investors with the highest level of confidence in this revolutionary new diamond investment product.”