The Perth Mint has revealed the world's first pavé-set, Argyle pink diamond gold coin at the prestigious 47th World Money Fair held in Berlin last week.

Each 99.99 per cent pure gold coin, known as the Jewelled Phoenix, has been inset with purplish, pink Argyle diamonds and was priced at $188,000.

And with only eight coins produced, that makes it one of the rarest collectable coins in the world.

"We sourced the diamonds from the Argyle mine and of course they're very rare so it adds to the prestige and the rarity of this set," group manager of Minted Products, Neil Vance, said.

"The phoenix is made of 16 carat rose gold [and] we put in 89 fancy purplish, pink diamonds [with] approximately 1.22 carats on each coin.

"We certainly managed to find some new collectors for the coins because of the diamonds but we also love the fact that we're working with two prestigious West Australian brands that go very well together."

Mr Vance said with more than 15,000 collectors coming through the World Money Fair, bidding for eight Jewelled Phoenix coins had been highly competitive.

"We have five of them sold and we have three very serious enquiries so we believe we might have sold all eight," he said.

"The phoenix has always been regarded as the immortal king of all birds and is meant to bring happiness and prosperity, so from that point of view it's very popular in Chinese culture."

Apart from its status as a one-off collectors' item, the coin is also legal tender in Australia.

The Kimberley Treasure weighs one kilogram and is made of 99.99 per cent pure gold with a 0.54 carat red Argyle diamond worth about $950,000. ( ABC News: Andrew O'Connor )

It's the fourth year the Perth Mint has worked with Argyle Diamond Company to produce a collectable coin, a partnership most famous for producing the Kimberley Treasure — a coin depicting a red kangaroo holding a 0.54 carat red Argyle diamond worth about $950,000.

And as global demand for Chinese themed precious metal coins continues to soar, the Perth Mint also released Australia's first rectangular Dragon bullion coins at the World Money Fair.

Loading

"We have large exports into Asia, through Singapore, Hong Kong, China, Taiwan and Japan and we've been doing the Chinese lunar calendar theme since 1995," Mr Vance said.

"[But] we wanted to do something different in the bullion coin market this year, so we decided to come up with a rectangle coin and we released a one-ounce gold and one-ounce silver in Berlin and both so far are selling very well.

"We've only released 500,000 silver and 25,000 gold coins, which is a pretty small mintage for a gold coin on the world bullion market."

The Perth Mint exports in excess of $18 billion worth of bullion bars and coins to institutional and private investors in more than 130 countries each year.

It is the largest Australian exporter of gold coins to Germany, with big markets in the USA and throughout South-East Asia.

With the coins taking two years to design and produce, the collections for the 2019 World Trade Fair are already underway.