Coin Spotlight Series: Australia Gold Nugget

7
Oct

Coin Spotlight Series: Australia Gold Nugget

The Australian Gold Nugget is a gold bullion coin produced by the Perth Mint.  The coin is made in the following weights 1/20 oz1/10 oz1/4 oz1/2 oz1 oz2 oz10 oz, and 1 kg of 24 carat gold. The coin has legal tender status in Australia and is one of the rare few legal tender bullion gold coins in the world to change their design annually, another being the Chinese Gold Panda.  Because of this and their limited annual mintage  it is possible the value of some years could have numismatic value over the value of gold value.

Diameter: 32.10 mm
Thickness: 2.65 mm
Weight: 1.0001 troy oz (31.10 g)
Face value: $100

The coin series was started 1986 by Gold Corporation, which is owned by the Government of Western Australia, also known by most as The Perth Mint. The coins have two unique features: a frosted design effect, and plastic encapsulation of each coin.  When introduced these features were unusual for a standard bullion coin and gave the coin a unique market niche.

Years 1986 to 1989, saw the reverse of these coins picture various Australian gold nuggets. But with the 1989 proof edition, the design was changed to feature different kangaroos. The coins are today sometimes referred to as “gold kangaroos”.

The Australian Gold Nugget coins should not be mistaken for The Australian Lunar Gold Bullion coins. Both coins are minted by Perth Mint and have .9999 purity, but Lunar coins use images of different animals from the Chinese calendar instead of the kangaroo.

Stay tuned for more more feature coins brought to you by Aaron Buys Gold.

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