Several countries have issued 1oz investment gold coins that are sold based on the market price of gold and at very low brokerage. The “Nugget” is the Australian version of this coin and it is produced by the Perth Mint.
Nuggets are among the most popular investment coins in the world, because their quality level is extremely high and the price level favourable. The quality and purity of Nuggets is guaranteed by the Australian government.
History of Nuggets
Golden Nuggets were first introduced in 1987 by Gold Corporation (a company that is mostly owned by the Western Australian government). Quite from the beginning, the coins had two unique qualities: a double shaded matte design effect and a plastic capsule for each coin. These extra qualities were unheard of among standard priced gold coins and they provided the Nuggets with a significant amount of added value compared to other similar coins. Originally, the coins carried an image of two gold nuggets. In 1989, a new design was introduced, featuring a kangaroo – a more commonly known symbol of Australia.
The Nugget coin family
The coins are produced in sizes of 1/20 oz, 1/10 oz, 1/4 oz, 1/2 oz, 1 oz, 2 oz, 10 oz and 1 kg. All coins are made of 99.99% pure gold. The small coining quantity, the high quality package and the exceptionally fine finish are well reckoned throughout the world. The quality of Nuggets exceeds the quality of coins made in several other countries, including the USA and Canada. All coins have the status of Australian legal tender and they are among the few operative gold coins with annually changing design (the other is the Chinese Panda). This as well as the limited production increases the numismatic value of Nuggets above the mere value of gold.
Design
All Nugget coins are legal tender in Australia, which is why their front sides carry an image of Queen Elizabeth II, a nominal value and the name of the country of origin.
The reverse side features a kangaroo that is changed every year, the year of issue of the coin as well as the weight and proof of gold.
The design of the larger Nuggets (2 oz, 10 oz and 1 kg) features the Australian red kangaroo and it is not changed each year. Only the year of issue of the coins varies.
TECHNICAL SPECIFICATIONS
| Size |
Face value |
Diameter
mm |
Coin weight
in grams |
Proof |
Gold weight
in grams |
Gold weight in
Troy ounces (oz) |
| 1 kg |
3000 AUD |
75.3 |
1000.1 |
999.9 |
1000.00788 |
32.151 |
| 10 oz |
1000 AUD |
60.3 |
311.067 |
999.9 |
311.034768 |
10 |
| 2 oz |
200 AUD |
40.6 |
62.215 |
999.9 |
62.20695 |
2 |
| 1 oz |
100 AUD |
32.1 |
31.107 |
999.9 |
31.1034768 |
1 |
| 1/2 oz |
50 AUD |
25.1 |
15.554 |
999.9 |
15,5517 |
0.5 |
| 1/4 oz |
25 AUD |
20.1 |
7.777 |
999.9 |
7,775869 |
0.25 |
| 1/10 oz |
15 AUD |
16.1 |
3.111 |
999.9 |
3,11034768 |
0.1 |
| 1/20 oz |
5 AUD |
14.1 |
1.556 |
999.9 |
1.55517 |
0.05 |
Produced in limited quantities
Only a strictly limited quantity of the Nuggets is produced every year in order to allow their numismatic value to increase over time in addition to the value of the precious metal. This quality increases the value of Nugget coins among collectors compared to other coins.
Production limits:
| Size |
Pieces |
| 1 Kilo |
Unlimited |
| 10 oz |
Unlimited |
| 2 oz |
Unlimited |
| 1 oz |
30 000 |
| 1/2 oz |
40 000 |
| 1/4 oz |
60 000 |
| 1/10 oz |
80 000 |
| 1/20 oz |
100 000 |
|
999.9
1 kg; 2 oz; 1 oz; 1 oz; 1/2 oz; 1/4 oz; 1/10 oz; 1/20 oz
