This is the 1988 One Ounce Gold Nugget as issued by Australia's Perth Mint.
This is an example of the early Perth Mint bullion nugget coins, which featured a famous gold nuggets on their reverse designs. This coin celebrates the Welcome Stranger nugget; the largest nugget of gold ever found.
The coin is struck in 9999 (24 carat) fineness and contains one troy ounce of gold. It has a face value of $100 AUD.
The Welcome Stranger gold nugget weighed 3,123 troy ounces and was discovered in a small town in Victoria, Australia back in 1869. It measured approximately 24" by 12". It is the largest gold nugget to have been disovered.
The kangaroo coins originally featured famous gold nuggets on their reverse designs. In 1989, 2 designs were released; one featuring a nugget, the other showing a kangaroo. The Perth Mint decided to stick with the kangaroo designs, and so from 1989 onwards, the coins no longer feature gold nuggets. For this reason the coins are often referred to as 'kangaroos', 'roos' or 'nuggets'.
The obverse bears the Raphael Maklouf portrait of Queen Elizabeth II. The text reads:
AUSTRALIA · 100 DOLLARS · ELIZABETH II
Designed by Dr Stuart Devlin, the reverse features the famous 'Welcome Stranger' nugget in the centre of the design.
The text reads:
THE AUSTRALIAN NUGGET 1 OZ. 9999 GOLD 1988
|Weight / Size||1 Ounce|
|Gold Weight Troy Ounces||1|
|Fineness / Carat||0.9999 / 24|
|Obverse Designer||Raphael Maklouf|
|Reverse Designer||Dr Stuart Devlin|
|Mint / Brand||Perth Mint|
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Bullion coins are provided as is and on occasion may have some minor scratches or edge knocks. These are not regarded as faulty or damaged goods as their precious metal content and value as a bullion coin is not affected. Any coin sold for a value less than a 180% intrinsic is considered a bullion coin.
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