Australian Gold Nugget

The Australian Gold Nugget is the major gold bullion of Australia. The coins are produced by the Perth Mint, a branch of the Royal Australian Mint. The first coins were minted in 1986 by the Gold Corporation, a government owned company of Western Australia. The original issue possessed two unique features which gave them competitive advantage over other coin series. Firstly, each coin was individually packed in hard plastic cases. Secondly, the two tone frosted effect was applied to their design.

The coins are produced in denominations of 1/20, 1/10, 1/4, 1/2, 1, 2, and 10 ounces. In addition, they are available as 10 kg bullion of 24 karat gold. The 10 kg coin has a diameter of 74.5 mm and a face value of $3000. The smallest coin of 1/20 ounce is 14.1 mm in diameter, having a face value of just $5. The large-sized coins are also manufactured from silver and platinum. In general, these coins are rare and in high demand by the collectors. Between 1986 and 1989, the coins featured a diverse array of gold nuggets. The proof edition of 1989 marked a considerable change in the design. The new coins featured the kangaroo: one of the best known symbols of Australia. The ‘kangaroo’ coin is one of the few legal tender issues that change their design each year. The upper corner of the reverse side displays the arc inscription ‘Australian Kangaroo’. The weight in troy ounces and the gold purity are shown on the reverse side. For instance, the coin may hold the inscription ’10 oz .9999 GOLD’. The obverse side of the coin features the portrait of Queen Elizabeth II. This side also displays the date of issue and the denomination in Australian dollars.

The Australian Gold Nugget differs from the Australian Lunar Gold Bullion which displays various animals from the Chinese calendar.

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