The Perth Mint just released its 2017-dated Australian Kangaroo Silver Bullion Coin. Sales of the one-ounce, 99.99% pure silver coin started on Monday, Nov. 7.
Annually issued but only introduced in 2016, demand for the new issue is expected to be strong as it is appealing to investors and collectors. The Perth Mint thought last year’s coin would reach 5 million in sales. Instead, it topped 11 million.
"With sales in excess of 11 million, factors behind its success included an iconic design, micro-engraved security feature, and extremely competitive pricing," the Perth Mint said.
The Mint is predicting sales in excess of 12 million for this coming year.
Found on the coin’s reverse or tails side is Stuart Devlin’s depiction of a red kangaroo, surrounded by a radiating design. The words AUSTRALIAN KANGAROO, 2017, 1oz 9999 SILVER and the Mint’s ‘P’ mint mark are inscribed in an outer ring. Like its immediate predecessor, there is also a micro-laser engraved ‘A’ within the first A of AUSTRALIAN. It shows up under magnification and helps in verifying the coin’s authenticity.
Obverses offer the Ian Rank-Broadley effigy of Her Majesty along with inscriptions of ELIZABETH II, AUSTRALIA, and 1 DOLLAR.
The surrounding rings of both sides feature a pattern of wavy lines.
Perth Mint-provided specifications include:
- Face value: 1 dollar
- Precious Metal Content (troy oz): 1.000
- Fineness: 99.99% purity
- Weight (g): 31.107
- Diameter (mm): 40.600
- Thickness (mm): 4.00
- Edge: serrated
Bullion coin and precious metals dealers from around the world are now pre-selling the Kangaroo coin for about $3 to $5 over spot with discounts offered at larger quantities.
They are also sold from perthmintbullion.com where they are available in tubes of 25 coins or in mini-monster boxes with 250 coins.
The Perth Mint made a few of these new bullion coins dated 2015, but didn’t release them to the public till 2016. They carry a higher premium.
I got my hands on a stack of the 2016 release. Beautiful bullion coins. I will buy more.