Times of India (May 31, 2012)
LONDON: An Indian-origin entrepreneur has produced for sale what is
billed as the "most precious" creation to mark the Diamond Jubilee of
Queen Elizabeth's reign, as Britons prepared to celebrate the milestone
with unique events over the extended weekend.
Sanjiv Mehta, who acquired the iconic East India Company from 33
shareholders in 2005 and went on to re-launch the company as a luxury
brand by investing 20 million pounds in 2010, has produced 60 limited
edition gold and silver coins for sale at his store in Mayfair.
The 24-carat gold coin, weighing 1 kg, is priced at 1,25,000 pounds
plus VAT (approx Rs 1.05 crore), while the silver coin, also weighing 1
kg, is priced at 25,000 pounds plus VAT (approx Rs 21.25 lakh).
The Diamond Jubilee marks 60 years of Queen Elizabeth's reign, and is
billed as one of two major events of 2012 to showcase the best of
Britain, the other being the Olympics.
A unique flotilla on River Thames on Sunday is one of several events
planned over the weekend.
The East India Company first entered the bullion market and was given
the right to mint its own currency by Charles II in 1677.
It has now commissioned The Royal Mint to strike the collectors coins,
encrusted with over a hundred handset diamonds.
Each coin is said to represent over 1,000 hours of craftsmanship and
features the likeness of Queen Elizabeth wearing a tiara, necklace and
brooch.
Each gold coin has been expertly set with 'Hearts and Arrows' cut
diamonds, bursting with reflections of white and blushed flickers,
creating a fascinating play of light.
Mumbai-origin Mehta said: "Queen Elizabeth I founded the East India
Company in 1600 by Royal Charter. The company was instrumental in
building the British Empire with its legacy still visible today in what
we know as the Commonwealth Nations"
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