Made from almost 8 pounds of gold and some 6,426 diamonds, a new coin honoring the life of Queen Elizabeth II may be

In fact, the creator of this one-off luxury object has valued it at

Unveiled on Monday, days before the first anniversary of Queen Elizabeth's death, the commemorative coin as a whole is not considered legal tender in the UK (although the denominations of coins contained within the design are). It was produced by the East India Company, a luxury lifestyle brand with rights to the name of the corporation that once controlled large swathes of Britain's empire.

Dubbed , in a press release, the company described its creation as an

The coin has a diameter of over 9.6 inches, making it wider than an NBA-regulation basketball and its design comprises almost a dozen 24-carat gold coins nestled in beds of diamonds.

The center coin weighs over 2 pounds, while the smaller ones around it each weigh 1 ounce and feature either portraits of the late monarch or depictions of virtues including truth, justice and courage.

On one side, thousands of diamonds have been arranged to resemble the UK's flag, while the setting of the reverse was inspired by the late queen's tiaras.

The original East India Company operated for almost 300 years before its dissolution in 1874. Indian-born businessman Sanjiv Mehta acquired the rights to name - and the accompanying coat of arms - in 2005 before relaunching it as a lifestyle brand five years later.

His modern reincarnation sells luxury products including jewelry, homeware and commemorative coins that according to the company's website.

To read the complete article, see:
Elizabeth II honored with basketball-sized gold coin worth 'around $23 million'(https://www.cnn.com/style/queen-elizabeth-coin-east-india-company/index.html)