Australian Gold Coins

Australian Kangaroo Gold Coins are Australia's basic 1-oz gold bullion coins. Initially introduced in 1987, they were called Gold Nuggets because they carried on their reverse an image of the largest gold nugget ever found, the 2,284-oz Welcome Stranger nugget, which was found in Western Australia in 1869.

However, in 1990 the Welcome Stranger image was replaced with kangaroo images, which the Perth Mint changes every year. Still, the word "Nugget" was stamped on the obverse (front) of the coins until 2008, and the coins were often called "Kangaroo-Nuggets." Now, though, the coins are mostly known as Australian Kangaroo Gold Coins.

With the kangaroo images changing every year, the coins have uniqueness not found on other gold bullion coins, such as the American Gold Eagles, Canadian Gold Maple Leafs, South African Krugerrands and Austrian Gold Philharmonics. On these four coins, only the dates, not the designs, change from year to year.

The obverse of the Australian Kangaroo Gold Coins carries an image of Queen Elizabeth II, as do most Australian gold coins.

Kangaroo Gold Coins: pure gold coins

As are most modern Australian gold coins, Kangaroo Gold Coins are .9999 fine (24 karat) and come individually capsulated in protective plastic covers, which do an excellent job of keeping the coins from being scratched or damaged. By comparison, Canada's Gold Maple Leafs, which also are .9999 fine, come ten coins to a tube and are notorious for being easily scratched or damaged when removed from their tubes.

Austrian Gold Philharmonics, although also pure gold and also packaged ten coins to a tube, are not easily scratched or damaged when taken from their tubes. Investors who prefer pure gold coins should choose between Australian gold coins or Austrian Philharmonic gold coins. The resale market for Canadian Maple Leafs often is very weak.

Although the capsules protect Kangaroo gold coins, they require greater storage space. Maple Leafs and Gold Philharmonics store compactly and are more suitable for investors making large investments.

Gold Buffalos, the US Mint's pure gold coins

The US Mint's pure gold coins are the Gold Buffalos. However, the Mint has not disclosed when it will produce Gold Buffalos in 2010. In 2009, they were not minted until October and only 200,000 were sold, most of which were "slabbed" for promotions by telemarketers.

Investors are cautioned against paying high premiums for Gold Buffalo coins. The telemarketers' stories about the scarcity of Gold Buffalos may be true, but slabbed modern bullion coins rarely, if ever, hold the premiums at which they are sold.

The "slabbing" of modern bullion coins has now been going on for more than a half a decade, and the results have been disastrous for buyers. For an expose on the abuses of "slabbing" modern bullion coins, read PCGS, NGC Coin Grading Scam Alert.

Kangaroo gold coins: five sizes

Although the Kangaroo gold coins come in five sizes, only the 1-oz coins are readily available. Investors wanting fractional-ounce gold coins should consider the fractional-ounce Gold Eagles, which are the most popular small gold coins in the US.

The one-ounce gold Kangaroo contains one ounce .9999 pure gold and carries a nominal face value of $100 Australian. Each coin comes in a hard plastic case, shipped from the Perth Mint shrink-wrapped 20 coins together. Diameter is 32.1mm, with a thickness of 2.8 mm.

The half-ounce Kangaroo gold coin contains .50 ounce .9999 pure gold, with a face value of A$50. Each coin is individually packed in a round plastic capsule, and shrink-wrapped together in groups of 20 coins at the Perth Mint. Diameter is 25.1mm, thickness 2.4mm.

The quarter-ounce coin is .25 ounce .9999 pure gold, with a face value of A$25. Each coin is shipped from the Perth Mint in a round plastic capsule, and shrink-wrapped 20 coins together. Diameter is 20.1 mm, thickness 2mm.

The tenth-ounce coin is .1 ounce .9999 pure gold, with a face value of A$15. Individually encapsulated, 20 coins are shrink-wrapped together for shipment from the Perth Mint. Diameter is 16.1mm, thickness is 1.5 mm.

The twentieth-ounce is .05 ounce of .9999 pure gold, with a face value of A$5. Individually encapsulated, 20 coins are shrink-wrapped together at the Perth Mint. Diameter is 14.1mm, thickness is 1.4mm.

If you would like to discuss investing in Australian gold coins, or would like to discuss buying and selling gold coins with CMI Gold & Silver Inc, call us at 800-528-1380. We take calls 7:00 a.m. to 5:00 p.m. MST, Mondays through Fridays.