When it comes to physical gold, coins are perhaps the most versatile. Coins are equally suited to investment and non-investment purposes, and the wide range of coinage ensures that there is something for everyone.
Depending on the particular specimen, a coin’s value may be based either on the gold content and the current market price of gold, or the scarcity and rarity of the coin, or a combination of both. In the world of gold coins, the Australian Kangaroo is one of the most in-demand with investors and collectors alike.
Background
First minted in 1987 by the Gold Corporation, more commonly known as the Perth Mint, the Gold Kangaroo is the official gold coin of the Australian continent and backed by the government of Western Australia. The Australian Kangaroo is a uniquely beautiful coin with a luster that stands the test of time. The hallmark of the Kangaroo is its two-tone gold design that gives its signature sheen.
As with most other types of coins, the Australian Kangaroo demands higher over spot prices than bars, ingots and rounds. For the investor, this add-on cost may be offset by the resale value of the coin. The Australian Gold Kangaroo is legal tender with a face value of $100, but, since it’s made with fine gold instead of a more robust alloy, handling them extensively is discouraged.
Like the Chinese Panda, the Kangaroo’s design changes every year and makes them an excellent series to collect for non-investment purposes. The obverse of the coin depicts an iconic image of Queen Elizabeth II and the reverse features a new design of the kangaroo each year.
The Obverse of the Australian Gold Kangaroo
The Reverse of the Australian Gold Kangaroo
The reverse of the coin is inscribed with the symbolic “P” mark, signifying the Perth Mint. Also inscribed is the year, along with the name of the coin, “Australian Kangaroo” and “9999 Gold,” to signify purity. Formerly known as “Kangaroo Nuggets,” the coins arrive sparkling in high-quality original casings to protect it from the elements.
The coins’ limited annual mintage and pure bullion content raises the numismatic (and retail) value of the coins significantly over the intrinsic value of the gold. For 2012, mintage was limited to 350,000 pieces. Each year collectors from all over the world eagerly anticipate the release of the latest design, to add to their collection.
Sizes
All Gold Kangaroos are minted with 24-karat, 0.9999 fine gold, and are available in five sizes:
- 1 Troy Ounce
- 1/2 Troy Ounce
- 1/4 Troy Ounce
- 1/10 Troy Ounce
- 1/20 Troy Ounce
The Perth Mint occasionally mints larger Kangaroos in 2 ounce, 10 ounce and 32.5 ounce sizes. These larger Kangaroos are rare, but collectable proofs and smaller sized Kangaroos (like the 2011 ½ gram ‘Mini-Roo’ gift card) can easily be found for purchase.
The Perth Mint also offers Silver Kangaroos in similar sizes. If you’re looking for a platinum Kangaroo, you won’t find one, but don’t despair: the Perth Mint offers a 0.9995 fine platinum Koala, and Emus are available for palladium bullion admirers. Both the Koala and Emu are similar in size to the Kangaroo.
Red Kangaroo
Did you know that the Perth Mint created a one ton Gold ‘Red Kangaroo’ worth over $53 million? Minted in 2011 this massive coin stole the record for ‘World’s Largest Coin’ from the Royal Canadian Mint and was given a legal denomination of $1 million. The front of the coin featured a massive red kangaroo, while the reverse paid homage to Australia’s history as an ex-British colony with a portrait of Queen Elizabeth II.