A Middle Eastern executive paid $8.15 million for a Rolls-Royce Phantom Solid Gold that was upgraded with the precious metal. The substitution of bullion took 18 months to complete. The logo "RR"s on the wheels also are made of gold.
The precious metal notched a record high of nearly $1,673 per troy ounce on Wednesday afternoon and at those prices, the car holds more than $7.09-million-worth of the precious metal. Stuart Hughes, a company based in the U.K. that also covers iPads and additional contraptions with owners' choice precious metals, completed the work on the luxury vehicle.
Consisting of 18 karat gold, which is more resistant to scratches than 24 karat gold, the car can repel hand grenades, according to Eurocash, a Switzerland-based coach builder. The upgraded luxury vehicle also is resistant to attack by some sniper rifles and machine guns.
Bloomberg reports the precious metal was driving toward another record high on Thursday morning, propelled by investors' pursuit of more secure currencies while the central bank of the U.S. contemplates economy-spurring moves.
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