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September 20, 2007

Australian Gold Nugget

Filed under: Gold Bullion Coins — metals market @ 5:48 pm
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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 kilo 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.

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 have image of different animals from Chinese calendar instead of 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 (3.1103 g)
Face value: $15
1/4 troy oz coin
Diameter: 20.10 mm
Thickness: 1.80 mm
Weight: 0.2500 troy oz (7.7758 g)
Face value: $25
1/2 troy oz coin
Diameter: 25.10 mm
Thickness: 2.20 mm
Weight: 0.5001 troy oz (15.5515 g)
Face value: $50
1 troy oz coin
Diameter: 32.10 mm
Thickness: 2.65 mm
Weight: 1.0001 troy oz (31.1030 g)
Face value: $100
2 troy oz coin
Diameter: 40.40 mm
Thickness: 3.35 mm
Weight: 2.0002 troy oz (62.2132 g)
Face value: $500 (1991)
$200 (1992- )
10 troy oz coin
Diameter: 59.70 mm
Thickness: 7.65 mm
Weight: 10.0010 troy oz (311.0659 g)
Face value: $2500 (1991)
$1000 (1992- )
1 kilo coin
Diameter: 74.50 mm
Thickness: 15.80 mm
Weight: 32.1540 troy oz (1000.1000 g)
Face value: $10,000 (1991)
$3000 (1992- )

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Spur Ryal Gold Bullion Coin

Filed under: Gold Bullion Coins — metals market @ 5:41 pm
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The Spur Ryal was an extremely rare  English Gold Coin issued in the reign of King James I. The coin is a development of the earlier Rose Noble or Ryalwhich was worth ten shillings when issued by Kings Edward IV and Henry VII, and fifteen shillings when issued by Queens Mary and Elizabeth I.

The Spur Ryal, so called because the sun and rose on the reverse resemble a spur, was introduced during James I’s second coinage (1604-1619) when it initially had a value of fifteen shillings (15/-), but in line with all gold coins its value was raised by 10% in 1612, to sixteen shillings and sixpence (16/6). The design of this first issue shows on the obverse the king in a ship holding a sword and shield, surrounded by the legend IACOBUS DG MAG BRIT FRAN ET HIB REXJames by the grace of God King of Great Britain France and Ireland. The reverse shows a rose over a radiant star, with a lion and crown in each quarter surrounded by the legend A. DNO FACTUM EST ISTUD ET EST MIRABILEThis is the Lord’s doing and it is marvellous (in our eyes).

During James’ third coinage (1619-1625) a new-style lighter spur ryal was issued with the value and weight reduced to fifteen shillings (15/-). On the obverse is a lion holding a sceptre over the royal shield which divides the value “XV” for fifteen shillings, surrounded by the legend IACOBUS DG MAG BRIT FRA ET HI REXJames by the grace of God King of Great Britain France and Ireland. The reverse shows, as before, a rose over a radiant star, with a lion and crown in each quarter surrounded by the legend A. DNO FACTUM EST ISTUD ET EST MIRABILEThis is the Lord’s doing and it is marvellous (in our eyes).

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