The Australian Gold Nugget bullion coin represents one of the Australian government’s best known gold coins in modern times. This coin has been produced and continues to be manufactured in multiple sizes, and saw its first production in the mid 1980s.
Australian Gold Nugget Characteristics
First minted in 1986, the Gold Nugget has been produced in multiple weight sizes ranging from 1/20 of a troy ounce to a whopping 1 kg coin. Each size is produced with a 24 carat quality of gold content. While the Gold Nuggets actually have a recognized government value as a currency coin, they are worth far more just for their gold content. Because the coin’s stamp changes each year, older years can also develop a collector’s value as earlier years had limited runs. The harder they become to find, the more their value is bumped up by a collector’s premium. The Nugget coins come with an extremely high content of gold, measuring at 0.9999 percent purity.
The larger sizes of the coin measuring 2 ounces, 10 ounces, and 1 Kg were not produced at first. They appeared in 1991. Unlike the smaller coins, the large coins stuck with the same kangaroo design and did not change annually.
Australian Gold Nugget History
Started by the province government of Western Australia through a government corporation, the Gold Nugget was first minted in 1986. It was unique in that the coin wasn’t just metal. It was also fabricated with a durable plastic cover. As a result, it made the coin stand out versus other bullion coins produced by Australia or other governments.
The first Nugget coin had an actual nugget profile on one side and a profile of Queen Elizabeth II on the other. However, this approach began to change annually. This lasted for three years.
In 1989 the kangaroo version appeared. This first coin has been the most chased after of the Nugget series in terms of popularity. It’s not the rarest of the bunch but the kangaroo version is definitely one of the most known. This started the trend of the coin’s collection as each year following had a different style and animal.
A bout of governmental one-upmanship on other bullion producers, the Perth Mint came out with a “one tonne” version of the Australian bullion Nugget. This coin, released in 2011, out did a large size coin made by the Canadians, with the new one valuing at over $53 million at the time of production.
Where to Buy the Gold Nugget
Obviously, one of the primary sources of the Australian Nugget today is from its source, the Australian Perth Mint. Other sources include good vendors include GovMint.com and the London Mint Office. These stores have serviced thousands of customers for years, providing a dependable record of consistency, reliability, and quality in coins sold. You can also go to your local coin or jewelry store and ask for these gold coins. In some countries, banks also sell gold bullion coins. However, buying online is a smart decision since prices tend to be cheaper than at local stores.