Platinum Australian Kangaroo Coins

The Australian Kangaroo platinum coin offers a platinum bullion product that is of interest for both its investment value and collectible value. The Perth Mint’s platinum version builds on a tradition of visually stunning and valuable coins from this mint’s kangaroo series.

The Platinum Kangaroo is available in a 1 troy ounce denomination. This coin not only offers 99.95% pure platinum but is also legal tender backed by the Australian government. The Platinum Kangaroo is popular both with those looking to buy platinum as a bullion investment and with collectors drawn in by the attractive design of this coin.

History

The Perth Mint first issued what would be the precursor to the series of Kangaroo coins back in 1986. The first release was a gold nugget coin, created to honor the famous Australian gold nuggets. When this version of the coin did not sell well internationally, the Perth Mint redesigned the series around the kangaroo, an animal recognized across the globe as an icon of the ‘Land Down Under.’ In 1990, the Perth Mint released the first gold kangaroo coin series.

This first Kangaroo coin was a gold version, but the Perth Mint later expanded to offer this popular design in other metals. After first introducing silver proof coins in 1993, the mint expanded production to silver bullion coins in 2016. This 2016 Silver Kangaroo coin is a beautiful uncirculated silver coin. The Perth Mint then issued the first platinum version of the Kangaroo coin in 2018. The Kangaroo platinum coin replaced the Platypus coin, which was the Mint’s first platinum offering.

The Australian Kangaroo Series from the Perth Mint now includes:

The Kangaroo series as a whole now brings collectors and investors some of the most popular coins available from the Perth Mint. The coins are so popular around the world thanks in large part to the recognizable image of the red kangaroo, Australia’s national animal [1]. The red kangaroo is the world’s largest living marsupial.

About the Perth Mint

The Perth Mint produces the Platinum Kangaroo coin as well as the other coins in this series. This mint also offers a range of coin and bullion products and is renowned worldwide for minting and refining.

The Perth Mint opened in 1899 after gold was discovered in Coolgardie and Kalgoorlie. At the time, the Perth Mint became the third branch of Britain’s Royal Mint, joining the Melbourne Mint and the Sydney Mint. While the Melbourne and Sydney mints closed, the Perth location remained under British jurisdiction until 1970. The Government of Western Australia gained ownership of the mint at that time. A State Act of Parliament in 1987 gave the Perth Mint the ability to mint and market Australian legal tender coinage in gold, silver and platinum to collectors and investors across the globe [2].

Today, the Perth Mint is well-known around the world for making beautiful and interesting coins. Australian coins are often available at a lower cost than comparable government issue coins, as well.

Value

The Platinum Kangaroo coin contains one troy ounce of 99.95% pure platinum [3].

The Australian government guarantees the weight and purity of the platinum Kangaroo coin, as these coins are considered legal tender. The coin has a $100 AUD face value, which is one of the highest denominations available for a 1-ounce coin.

Uncirculating coins are considered legal tender in Australia. The Perth Mint is one of two bodies that have the authority to produce uncirculating coins (the other is the Royal Australian Mint) [4].

These factors come together to make the Platinum Kangaroo coin a valuable investment, regardless of your investing goals:

  • The Perth Mint mints the Platinum Kangaroo coin and guarantees its weight and purity, which means this coin is recognized as a world standard.
  • The coin’s legal tender status adds to its overall value as this means the coin is guaranteed by a sovereign country.
  • The Perth Mint produces a significant number of bullion coins, keeping the ‘premium over spot’ price low for those who look to the coin only as a bullion investment.

Design

The stunning platinum coins feature the red kangaroo design that you will find on a number of Australian coins, including:

  • Australian Silver Kangaroo
  • 1-kilo Gold Kangaroo coins
  • Previous circulation coins

This symbolic image on the Australian Platinum Kangaroo coin depicts Australia’s national animal leaping in the Outback on the reverse side of the coin. The kangaroo leaps from right to left, and sunburst rays surround the animal along the design field’s outer rim. Late coin designer Stuart Devlin create the iconic red kangaroo design, which the Perth Mint has used on its products since 1990 [5].

As legal tender, the Kangaroo platinum coin must showcase an approved effigy of Her Majesty Queen Elizabeth II on its obverse side [4]. The image of Queen Elizabeth II on the Platinum Kangaroo coin comes from a Jody Clark design of the Queen in right-profile relief.

Why Buy Platinum?

Platinum coins provide advantages over other precious metals. Though platinum may have a shorter history in the financial sector compared to gold or silver, it still has an intrinsic value that protects against inflation and currency devaluation.

Platinum is incredibly rare, and it has various uses in addition to its use in jewelry. For example, platinum is used as a catalyst for industrial purposes like oil refining. Platinum is also used in catalytic converters for automobiles. As demand for these critical applications is poised to continue, so too is platinum likely to experience ongoing demand that maintains its value. This rare precious metal also has a constricted supply, with most platinum used worldwide coming from South Africa [6].

Though the Platinum Kangaroo coin has legal tender status, it offers even more value thanks to its metal content and government backing.


Article Sources

1. Britannica. ‘National And State Emblems of Australia,’ https://www.britannica.com/place/Australia/National-and-state-emblems-of-Australia. Accessed September 18, 2020.

2. The Perth Mint. ‘History,’ https://www.perthmint.com/visit_the_mint_the_perth_mint_history.aspx. Accessed September 18, 2020.

3. The Perth Mint. ‘Latest Platinum Coins,’ https://www.perthmint.com/catalogue/latest-platinum-coins.aspx. Accessed September 18, 2020.

4. The Perth Mint. ‘Guidelines for Australian coins,’ https://www.perthmint.com/minting_services_guidelines_australian_coins.aspx. Accessed September 18, 2020.

5. Perth Mint Bullion Blog. ‘The Perth Mint saddened by death of Stuart Devlin,’ http://www.perthmintbullion.com/us/blog/blog/18-04-20/The_Perth_Mint_saddened_by_death_of_Stuart_Devlin.aspx. Accessed September 18, 2020.

6. Statista. ‘Platinum metal reserves worldwide as of 2019, by country (in metric tons)*,’ https://www.statista.com/statistics/273624/platinum-metal-reserves-by-country/. Accessed October 2, 2020.