Hopefully, everything you need to know about Australian gold nuggets and kangaroos.
One Ounce of Gold
Many countries now issue a one ounce bullion coin, to be sold at a very low premium over the intrinsic gold value. The Australian version is the Nugget or Kangaroo.
Obverse & Reverse of 1986 Proof One Ounce Gold Nugget
Krugerrands versus Nuggets
Because krugerrands were the first one ounce gold bullion coins to be issued, it is worth comparing gold nuggets with krugers.
Krugerrands were first issued in 1967, as one ounce bullion coins. From 1980, they were also produced in fractional sizes of half ounce, quarter ounce, and tenth ounce. Nuggets were introduced in 1986.
Four Different Designs and Dates of One Ounce Proof Nuggets
The Nugget Family
During the first few years of their issue, the design on the reverse of the Australian Nuggets was, somewhat originally, Australian natural gold nuggets. Each of the four sizes carried a picture of a different famous gold nugget.
For more information about the designs on different sizes and dates of Nuggets, please see our Nuggets Designs page.
Gold Nuggets were originally available in four different sizes and weights, from one ounce to one tenth of an ounce, as detailed below. A twentieth ounce size was introduced in 1989.
Larger sizes, from two ounces to one kilo were introduced starting in 1991.
Sets of Both Kangaroo & Nugget Design in all 5 Normal Sizes
Nuggets and Kangaroos - New Designs
The obverse bears a portrait of H.M. Queen Elizabeth II.
The reverse designs of Australian gold nuggets feature individual themes.
Low Premium Over Gold Content
As with most one ounce gold bullion coins, they are made available to world bullion dealers at a 3% premium over the current gold fix, so that after distribution costs, the coins would be available to investors in quantity at about 4% to 5% over intrinsic gold values, and possibly 10% premium for single pieces.
Higher Premium on Smaller Sizes
The fractional sizes were issued at higher premiums to bullion dealers of 5%, 7%, and 9% respectively. The fractional coins have never been as popular as the full one ounce coins, usually only being purchased as singles, so that in practice, it would usually cost 10% to 15% premium for the half and quarter ounce, and from 20% to 50% premium for the tenth ounce, most of which seem to have been used in jewellery. Most bullion houses do not want the bother of handling small quantities of low value coins.
Family Portrait of all Eight Sizes
VAT Free From January 2000
In Britain and the rest of the EU. investment gold coins became VAT free from January 1st 2000.
Chard have maintained a dealing service for both collectors and investors in bullion and numismatic coins since 1964, and are UK prime distributors for the Perth Mint, who produce the gold nugget series.
The following table summarises the specifications of all the sizes.
If this table fails to display properly, it is because eBay do not allow us to use html table formatting, sorry!
Size Value Diameter Weight Fineness Gold Content Gold Content
mms. Grams /1.000 Grams Troy Ounces
One Kilo (1991) 10,000 Dollars 74.50 1000.10 .9999 1000 32.1507
One Kilo (1992-) 3,000 Dollars 74.50 1000.1 .9999 1000 32.1507
Ten Ounce (1991) 2,500 Dollars 59.70 311.62 .9999 311.04 10.0000
(1992-) 1,000 Dollars 59.70 311.62 .9999 311.04 10.0000
Two Ounce (1991) 500 Dollars 40.40 62.324 .9999 62.207 2.0000
Two Ounce (1992-) 200 Dollars 40.40 62.324 .9999 62.207 2.0000
One Ounce 100 Dollars 32.10 31.162 .9999 31.104 1.0000
Half 50 Dollars 25.10 15.594 .9999 15.552 0.5000
Quarter 25 Dollars 20.10 7.807 .9999 7.776 0.2500
Tenth 15 Dollars 16.10 3.133 .9999 3.110 0.1000
Twentieth 5 Dollars 13.70 1.555 .9999 1.555 0.0500
Author & Copyright Notice
Any images shown are our own copyright images. Our text and description is also copyright, Lawrence Chard of Chard Coins.
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