- Australian Gold Nugget
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Gold Nugget (Australia) Edge: Reeded Composition: 99.99% Au Years of Minting: 1986–present Obverse Design: Elizabeth II Designer: Ian Rank-Broadley Design Date: 1999 Reverse Design: Kangaroo Designer: Stuart Devlin Design Date: 2006 The Australian Gold Nugget is a gold bullion coin minted by the Perth Mint. The coins have been minted in denominations of 1/20 oz, 1/10 oz, 1/4 oz, 1/2 oz, 1 oz, 2 oz, 10 oz, and 1 kg of 24 carat gold. They have legal tender status in Australia and are one of few legal tender bullion gold coins to change their design every year, another being the Chinese Gold Panda. This and their limited annual mintage may, unlike for many other bullion coins, raise their numismatic value over the value of gold used.
The Gold Nugget series was introduced in 1986 by the Gold Corporation, a company wholly owned by the government of Western Australia. This issue of coins had two unique features: a "two-tone" frosted design effect, and individual hard plastic encapsulation of each coin. These features were unusual for a standard bullion coin and gave the Nugget a unique market niche.
From 1986 to 1989, the reverse of these coins pictured various Australian gold nuggets. With the 1989 proof edition, the design was changed to feature different Kangaroos, a more world-recognized symbol of Australia. The coins are today sometimes referred to as "gold kangaroos".
In 1991, 2 oz, 10 oz, and 1 kilogram sizes were introduced. These were created with the intention of using economies of scale to keep premiums low, and are some of the largest gold coins ever minted. In 1992, the face values on these large coins were lowered to keep them proportional to the 1 oz coin. The reverse of these coins does not change annually like the lower denominations; the same "red kangaroo" design is used every year.
In October 2011, the Perth Mint created a one tonne gold coin, breaking the record for the biggest and most valuable gold coin, previously held by the Royal Canadian Mint.[1] The coin is approximately 80 centimetres (31 in) in diameter and 12 centimetres (4.7 in) thick. It features a red kangaroo on the front of the coin and a portrait of Queen Elizabeth II on the reverse. The face value of the coin is A$1 million, but at the time of minting it was valued at over A$53 million.[2]
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.
Specifications
1/20 troy oz coin Diameter: 14.10 mm Thickness: 1.40 mm Weight: 0.0500 troy oz (1.5552 g) Face value: $5 1/10 troy oz coin Diameter: 16.10 mm Thickness: 1.30 mm Weight: 0.1000 troy oz (3.11 g) Face value: $15 1/4 troy oz coin Diameter: 20.10 mm Thickness: 1.80 mm Weight: 0.2500 troy oz (7.78 g) Face value: $25 1/2 troy oz coin Diameter: 25.10 mm Thickness: 2.20 mm Weight: 0.5001 troy oz (15.55 g) Face value: $50 1 troy oz coin Diameter: 32.10 mm Thickness: 2.65 mm Weight: 1.0001 troy oz (31.10 g) Face value: $100 2 troy oz coin Diameter: 40.40 mm Thickness: 3.35 mm Weight: 2.000 troy oz (62.21 g) Face value: $500 (1991)
$200 (1992- )10 troy oz coin Diameter: 59.70 mm Thickness: 7.65 mm Weight: 10.00 troy oz (311.0 g) Face value: $2500 (1991)
$1000 (1992- )1 kilo coin Diameter: 74.50 mm Thickness: 15.80 mm Weight: 32.154 troy oz (1000 g) Face value: $10,000 (1991)
$3000 (1992- )1 tonne coin Diameter: approx 800 mm Thickness: approx 120 mm Weight: 1,012 kilograms (35,700 oz) Face value: A$1,000,000 References
External links
Categories:- Gold coins
- Coins of Australia
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