Improving platinum market conditions have prompted the Czech mint to increase the price of its unique medal crafted from the precious metal, it has been confirmed.

Ceska mincovna, which is a former subsidiary of glass and jewellery group Jablonex, has already made 60 of the medals, with a further 60 now ready for minting.

Although the half-kilogram offerings were listed at Kc590,000 (£19,610) when they were initially launched last autumn, this price has now been raised, the Czech News Agency reports.

"Owing to rising prices of platinum, we had to increase its price to Kc640,000," Libor Krapka of Ceska mincovna told the news provider.

"In total, we are prepared to issue 150 of these medals."

The mint also revealed that its overall sales increased by over a third to Kc620 million, with profits leaping to Kc65 million - both of which were record performances.

Designed by Daniela Kartakova, the medals were launched to mark Pope Benedict XVI's visit to the Czech Republic in September 2009.

Source:

Czech Mint ups sales, profit last year (26/01/10)

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