Dear fellows,
Welcome to the next post for the #silvergoldstackers community. This time, instead of sharing a particular coin, I have prepared a semi-long selective overview of one of the most known mints in the world which I am a huge fan of and a devoted collector of their silver coins - Australian Perth Mint.
The Perth Mint, a globally renowned Australian institution, stands as a testament to the country's rich history of gold mining and precious metal craftsmanship. For over a century, it has contributed significantly to Australia's economy, producing some of the world's most recognized and sought-after gold, silver, and platinum coins. Let's learn together more about this interesting institution.
Designed by George Temple Poole, the mint's original building is one of Perth’s most impressive colonial-era monuments.
Source: perthmint.com
History of the Perth Mint
The origins of the Perth Mint trace back to the late 19th century. Established in 1899 as a branch of Britain's Royal Mint, its primary goal was to refine gold from the Western Australian gold rushes and to mint gold sovereigns and half sovereigns for the British Empire.
Foundation stone from 1896 laid by Sir John Forrest - a founding father of the Royal Mint.
Source: perthmint.com
Photo of a gold sovereign minted by the Royal Mint and used throughout the British Empire.
Source: perthmint.com
After abandoning the gold standard in Britain in 1931, the refinery focused on making fine gold bullion bars. Between 1940-1964, the refinery was heavily occupied by minting copper Australian pennies coins. This was the first time featuring a famous Australian kangaroo design.
Source: perthmint.com
The mint remained under British control until 1970 when it was transferred to the Western Australian government. Despite the transition, the Perth Mint continued its operations, refining and coining precious metals. It was during this period that it gained a reputation for producing some of the highest quality and most beautiful gold bars and coins in the world.
In 1987, the Western Australian government established Gold Corporation and mandated it to operate the Perth Mint. Since then, the Perth Mint has expanded its operations to include the production of a wide range of gold, silver, and platinum coins, along with other precious metal products and services.
Current activity overview
Today, the Perth Mint is one of the premier mints in the world, offering a variety of services and products related to precious metals. It refines a significant portion of the world's gold, and its products are popular with investors and collectors alike.
Refining: The Perth Mint operates one of the largest and most efficient refineries globally, accredited by all five of the world's major gold exchanges. It processes a significant portion of the world's gold output annually.
Bullion: The mint produces a wide range of bullion bars and coins in gold, silver, and platinum. These are sold to investors through a network of distributors worldwide and directly through the mint's website.
Numismatic Coins: The mint is also a leading producer of collectible coins, with numerous series that are sought after by collectors around the world.
Depository: The Perth Mint offers a depository service, allowing individuals to invest in gold and other precious metals without the need to take physical delivery.
Jewellery, Gifts, and Other Products: In addition to bullion and coins, the mint produces a range of other products, including jewelry, precious metal gifts, and coin-related products.
Tours and Exhibitions: The Perth Mint is also a popular tourist destination, offering tours of its historic premises and exhibitions of its gold products.
A live show of gold pouring is one of the attractions awaiting the Perth Mint visitors.
Source: perthmint.com
Notable coin series
The Perth Mint has released a number of notable coin series that have gained international recognition for their design and craftsmanship.
I. Australian Kangaroo silver, gold, and platinum bullion coin: One of the most recognized bullion coins in the world. Made of silver, gold, or platinum available in different sizes are attractive options for all precious metals stackers and investors.
Source: perthmint.com
1 troy-ounce Australian Kangaroo silver coin from my private collection.
II. Australian Kookaburra Series: Introduced in 1990, the Australian Kookaburra silver coin series is another annual series featuring a new image of the native Australian bird each year.
1 troy-ounce 2015 Kookaburra silver coin from my private collection.
III. Australian Lunar Series: This series, introduced in 1995, features designs based on the Chinese Lunar Calendar. Each year's coin showcases the animal that corresponds to the Chinese zodiac for that year.
Source: ebay.com
IV. Australian Koala Series: Launched in 2007, this series features annual designs of the beloved Australian marsupial in silver
1 troy-ounce 2016 Koala silver coin from my private collection.
Some interesting facts about the Perth Mint
1. The one-tonne Australian Kangaroo gold coin: Perhaps one of the most captivating facts about the Perth Mint is the creation of the one-tonne Australian Kangaroo gold coin. This colossal coin, made in 2011, holds the Guinness World Record as the largest and most valuable gold bullion coin in the world. It weighs a staggering one tonne (1,000 kg) and is made of 99.99% pure gold. The coin, which measures 80 cm in diameter and over 12 cm in thickness, features a red kangaroo design by Dr. Stuart Devlin AO CMG, goldsmith, and jeweler to Her Majesty Queen Elizabeth II. Its face value is AUD $1 million, but due to the sheer volume of gold, it's worth well over AUD $50 million based on current gold prices.
Source: perthmint.com
2. 99.99% Purity: The Perth Mint prides itself on the purity of its gold. It was the first mint in the world to achieve an incredible 999.999 parts of gold per thousand (five nines) in the pure gold produced. It's still one of the only mints globally that guarantees this level of purity.
3. Nugget collection: The Perth Mint is home to Australia’s largest natural nugget collection. King Henry and The Karratha Queen are two exceptional gold nuggets housed at the Perth Mint.
The 'King Henry' is one of the most significant gold nuggets on display at the Perth Mint. Weighing approximately 93.7 kilograms, it was found in 2010 at the Sons of Gwalia mine near Leonora in Western Australia. The nugget is renowned for its high purity, containing around 1400 ounces (45 kilograms) of gold. Due to its impressive size and purity, the 'King Henry' nugget is a major attraction at the Perth Mint.
Source: perthmint.com
Discovered near Karratha in the Pilbara region of Western Australia, the Karratha Queen nugget is another incredible specimen in the Perth Mint's collection. Weighing in at about 145 kilograms and containing about 3520 ounces of silver, it is a notable example of the large nuggets that can be found in Western Australia. The silver nugget's natural beauty and impressive size make it a highlight of the Mint's exhibits.
Source: perthmint.com
4. The Perth Mint swindle: In 1982, the Mint was the victim of one of the biggest gold thefts in history. Gold worth AUD $653,000 was stolen, leading to an intricate police investigation. The gold was never recovered, and the case remains one of Australia's most infamous unsolved crimes.
5. Depository Program: The Perth Mint’s Depository Program is one of the largest in the world, storing more than AUD $5 billion in precious metals for clients located in over 130 countries.
6. Green refining: The Perth Mint is committed to environmentally responsible precious metal refining, with a focus on recycling and reducing emissions. It uses state-of-the-art refining techniques to minimize its environmental impact, making it a leader in sustainable refining practices.
Summary
Visiting the Perth Mint is one of my bucket list points. This is a remarkable institution, linking Australia’s golden past with its precious metals present. Its rich history, varied products, and impressive coin series make it a fascinating subject for coin enthusiasts, stackers, and investors. I hope you've enjoyed this post and learned something new.
Stay tuned for more!