Sales of the 2016-dated Australian Kookaburra 1-Ounce Silver Bullion Coin officially kicked off on Monday, Nov. 2, 2015.
Struck by the Perth Mint to a brilliant uncirculated finish in 99.9% pure silver, the new coin has a mintage limit of 500,000. That matches last year’s issue which sold out. In fact, the 1-ounce size has sold out every year since 2008. The bullion series now marks its 26th year, debuting in 1990.
Companion 10-ounce and 1-kilo sizes "will be issued shortly," the Perth Mint said on Monday, adding:
"Production of both the kilo and 10oz versions has been temporarily delayed due to exceptionally high demand for Perth Mint bullion products."
The two larger coins have mintages based on demand.
Coins of the series offer annually changing reverses featuring the bird native to Australia. This year’s design presents a kookaburra perched on a fence post with barbed wire wrapped around it. Inscriptions include AUSTRALIAN KOOKABURRA, the Perth Mint’s ‘P’ mintmark, the coin’s year of issue 2016, and the weight, purity, and metal content of 1oz 999 SILVER.
Issued as Australian legal tender, the obverses bear the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II. Engravings include ELIZABETH II, AUSTRALIA and 1 DOLLAR.
Other Australian 2016 bullion coins have already been released. The Perth Mint has a five-month launch strategy for its range of investor coins. Series and release dates include:
- 2016 Australian Kangaroo 1oz Silver Bullion Coin – 21 September 2015
- 2016 Australian Kangaroo Gold Bullion Coin Series – 21 September 2015
- 2016 Year of the Monkey Gold Bullion Coin Series – 5 October 2015
- 2016 Year of the Monkey Silver Bullion Coin Series – 5 October 2015
- 2016 Australian Kookaburra Silver Bullion Coin Series – 2 November 2015
- 2016 Australian Koala Silver Bullion Coin Series – 4 January 2016
Bullion coin and precious metals dealers around the world are now pre-selling the Kookaburra silver coin for about $5.50 to $8 over spot with discounts offered at larger quantities.