Australian Gold Nugget
The Australian Gold Nugget
is an Australian 24-karat gold coin
produced by the Perth Mint. Changing their design each year, these coins have legal status and are minted in different denominations from 1 kg to 1/20 oz. The limited mintage of the Australian Gold Nugget, together with its changing design, increases its numismatic value.
Introduced by the Gold Corporation in 1986, the series had two unique features. Each coin was offered with a hard plastic encapsulation and a two-tone frosted design. The protective wrapper serves to protect the delicate surface of the gold coin. Notably, the Nugget took a unique market niche because of these two features.
The coin has a fineness of .9999, and its actual content of gold is equal to 31.103 grams or one troy ounce. Its diameter is 32.1 mm and the face value is $100. The Australian Gold Nugget or the Kangaroo is also offered as a kilo-sized coin with a weight of 32.15 ounces. The reverse side of the coin features the famous marsupial, which gave the name of the coin. The obverse side of the Kangaroo depicts Queen Elizabeth II of Great Britain. Each coin is stuck with its face value, weight, and purity. Coins are valued by collectors for their artistic workmanship and top quality finish.
The reverse side of the Australian Gold Nugget originally featured Australian gold nuggets, depicted with a different design for each size. In 1989, the design was changed to depict Australias most recognizable animal. This is why, the coin is known as both the Kangaroo and the Australian Nugget. Proof coins are offered with a new design every year, and the design is used for minting gold bullion coins
. Among the designs have been: two hopping kangaroos, kangaroo looking sideways, kangaroo in grass, drinking kangaroos, red kangaroo jumping, nail-tailed wallaby, and many others.
The reverse design was created in 2005 by Stuart Devlin. Ian Rank-Broadly created the obverse design, featuring Elizabeth II, in 1999. The 1/20 oz coin has a face value of $5, thickness of 1.4 mm, and a diameter of 14.1 mm. The one ounce coin is offered with a face value of $100, thickness of 2.65 mm, and a diameter of 32.1 mm. In addition, there are 2 ounce coins, 10 ounce coins, and 1 kilo coins. The face value of the latter is in the range of $10,000 to $30,000, and their weight is 1,000 kg. The 10 ounce and 1 kg coins were produced in an effort to keep premiums low and are among the largest coins ever produced. The reverse design is kept the same every year, unlike those of lower denominations. The coins feature the same red kangaroo reverse design.
The Kangaroo coins should not be taken for another series, the Australian Lunar Gold coins. While they both have purity of .9999 and are produced by the Perth Mint, the Lunar Gold coins feature animals used in the Chinese calendar.
The Australian Gold Nugget series enjoys wide popularity with investors
and numismatists outside of Australia. The economic and political stability of the country explains the high demand for these coins globally. Moreover, the care taken to mint these coins is different to the quality of other specimen offered by the Perth Mint. However, the small numismatic market and the relatively higher price often means that the Australian Gold Nugget is a single purchase.
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