Wednesday, 7th April 2004 (2622 views)

The world's largest collection of gold bars for investment has been given a permanent home in Australia.

The collection, which features gold pigs, jewellery and a smuggler's vest, has been relocated from Singapore to the Perth Mint.

The total collection, owned by the bank NM Rothschild and Sons, features more than 700 items from 30 countries, including more than 120 gold bars from around the globe worth more than $1 million. It has been touring the world for the past ten years, the Melbourne Herald Sun reports.

Collection curator Nigel Desebrock explained that no tours are planned for the entire collection at present, but the intention is to tour smaller, more portable shows.

The collection also includes intricate 22-carat Indian wedding jewellery, which was made in Calcutta. Mr Desebrock said it was difficult to place a value on the jewellery, but revealed it was worth more than $20,000 in a Western market.

Gold nuggets, coins and industrial items are also on display along with an array of gold bars shaped into a variety of designs, such as gold leaf bars from Vietnam, which were smuggled out of the country during the late seventies in packets of cigarettes or the lining of clothing.

Globally, it is estimated that every year 2700 tonnes of gold is used in the manufacture of more than a billion items of jewellery worth about $45 billion.

 

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