Barack Obama denies claim he is to buy rare £20,000 rhodium ring for his wife to say 'thanks for your support'

By Mail Foreign Service
Updated:

Barack Obama has denied his wife Michelle is to receive this £20,000 thank you for her support during the election.

The Harmony ring is made of rhodium - the world's most expensive metal - and encrusted with diamonds.

A spokesman at Italian designer Giovanni Bosco said Mr Obama had asked their American agent about the ring because he wanted it as present for Michelle to thank  her for helping over the last two years.

Enlarge   £20,000 ring made of black gold or rhodium

Diamond encrusted thanks: Barack Obama was said to be buying his wife this £20,000 ring made of black gold or rhodium

It was said to be being hastily made by the top Italian designer in time for January's inauguration ceremony.

But Dan Pfeiffer, communications aide for Obama's transition to the Presidency, flatly denied the story in an email to an American political website.

The report is 'not true,' said Pfeiffer in the message to Politico.

Only about 25 tons of rhodium are mined each year, mostly in South Africa, and as a result its price is typically around £5,000 an ounce.

Bosco is based at Valenza Po near Alessandria. The top designer counts a select list of VIPs and celebrities as his clients.

The Giovanni Bosco spokesman said: 'Our American distributor has contacted us and has asked us to provide details on the Harmony ring.

'It is our top of the range piece and made from rhodium and encrusted with diamonds.

'Our agent in the United States was asked by Mr Barack Obama about the ring because he wants it as a thank you gift for his wife Michelle for her support the last two years.

Obama

Love: Barack Obama kisses Michelle on election night

'We have a select number of clients both in the United States, Europe, Russia and the Middle East and our prices as a result reflect the wealth of our customers.

'For obvious privacy reasons I cannot reveal the cost of the ring but bearing in mind it is made from rhodium or black gold and encrusted with diamonds you can be sure it will cost thousands of pounds.'

Rhodium is a very select precious metal. Because of its value and association with wealth, rhodium was chosen as the material for the disc presented to Beatle Paul McCartney for being history's all-time best-selling songwriter and recording artist.

Several luxury items such as the world's 'Most Expensive Pen' or 'Most Expensive Board Game' also contain rhodium while the Crown Jewels worn by the Queen are also rhodium plated.

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