Australian Gold
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Australian Gold
What Are Australian Gold Nugget Coins?
Potential gold investors will want to know what are Australian gold nugget coins? At this time, gold is rising in price and more people are looking to invest in gold and learn about gold buying options. This type of Australian gold coin was first issued in 1986 and initially one side of the coin had an image of a famous Australian gold nugget. This image was replaced with that of a kangaroo in 1989. Nuggets, the image first carried by these coins, are becoming rarer to locate. It has been said that a five-carat diamond is easier to find than a nugget of one ounce of gold today. In addition, each nugget is unique. They also sell for a higher price as they are viewed as the equivalent of gemstones. What many do not realize is that most gold coins are made from melted gold dust, which is far more common than nuggets. A limited amount of the Australian gold nugget coins was minted in the early years, so they might be even more valuable today. For instance, the year 1987 only had 15,000 of each type of coin produced. These coins are produced in different weights and in fractions of an ounce.
While the American Buffalo gold coin is the most popular amongst gold investors who buy coins, the Australian gold nugget coins are also very popular, because they have a distinguishing feature that is rare. The Perth Mint, a subsidiary of the Royal Australian Mint mints these coins. The coins should not be confused with the lunar gold bullion coins and they cannot be confused as they have different images printed on them. The latter carry different animal images from the Chinese lunar calendar; and the former now carry different images of kangaroos.
Why There Is Growing Interest In Gold As An Asset For Investment
Investors fearing the loss of the value of their due to inflation caused by the printing of money by governments desperate to avert the downside of the Great Recession are flocking to gold as a hedge. These are the less informed investors who missed what a leading official of the leading gold mining company (Barrick) recently noted that global gold production is falling because there is less gold available. This was revealed in an article published in the British newspaper the Daily Telegraph on November 13, 2009. The newspaper quoted Aaron Regent, the president of the Canadian mining company, who said at a gold conference held in London that global output has declined by approximately 1m ounces a year since the beginning of this decade. Total supply he further said had dropped by 10 percent with erosion of quality as well. Hence, gold is becoming dearer and its value will rise regardless of what will be caused by the paper-printing machine of governments.
A Little History About Australian Gold Coins
As investors are aware, gold coins tend to hold their value. The one-ounce size, because of convenience and relative value is a popular size. In this category, the South African Krugerrand was a market opener in 1967. Krugerrands were minted in fractional sizes of a half-ounce, a quarter ounce, and a tenth of an ounce from 1980 onwards. The Panda gold coins minted by the Republic of China created solid demand a changing the design every year after their introduction in the early 1980s. Australians appear to have followed with pattern with the changing image feature of the new coin series.
Australia has issued gold coins since 1852 In 1986, gold coins in convenient weights became originally available in four different weights, from one ounce to one tenth of an ounce. A twentieth ounce size was introduced in 1989; and in 1991 larger sizes, ranging from two ounces to 10 ounce and one kilo were introduced. Annually, the coins are produced in the following weights: 350,000 at 1oz, 100,000 at 1/2oz, 150,000 at 1/4oz, 200,000 at 1/10oz, and 200,000 at 1/20oz coins Distinguishing features of these coins are: annual design changes; a government guarantee of purity and weight; an official legal tender status and a high quality finish, with a delicate frosting within its central design area.
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To read more about gold nugget coins, or you can buy gold nugget coins through The Precious Metal Shop