The Perth Mint struck a hit with their 2017 Australian Silver Swan 1oz Bullion Coin. The 99.99% fine silver product launched in early April and promptly sold out. It’s now realizing secondary market prices ranging from nearly 3x to about 9x melt value.
Padding the bullion coin’s appeal is its limited 25,000 mintage, its attractive design, and its role as the first release in an expected series to feature annually changing swan designs.
"Such was the strength of demand that a number of would-be buyers were left disappointed by its rapid take up, The Perth Mint said. "On a positive note for those that missed out, prospects for a 2018 release are currently being firmed up."
With a reverse proof-like appearance, their quality is remarkable when compared against many other world coins.
To date, PCGS has certified 695 of them at the top MS70 grade. These realize the highest prices with examples scoring around $150 apiece. MS69’s are moving for roughly $100. Ungraded coins are selling from about $42 to $52.
The coin’s reverse (tails side) shows the graceful bird in its wetland habitat. In classic profile — similar to the Perth Mint’s logo, the portrayal displays the swans long neck with broad wings tucked together on its back. Inscriptions include THE 1OZ 9999 SILVER AUSTRALIAN SILVER SWAN and The Perth Mint’s ‘P" mintmark.
As Australian legal tender, obverses offer the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II with surrounding inscriptions of ELIZABETH II, AUSTRALIA, 2017, and 1 DOLLAR.
Each coin weighs 31.107 grams, has a diameter of 40.600 millimeters, a thickness of 4.000 millimeters, and a reeded edge.