The Perth Mint

 

The Perth Mint is Australia’s official bullion mint and is owned by the government of West Australia. Alongside the Royal Australian Mint, the Perth Mint is the older of the two and issues coins that are considered legal tender in Australia. It was the last of three Australian colonial branches of the United Kingdom’s Royal Mint and was intended to refine gold from the gold rushes and to mint gold sovereigns and half-sovereigns for the British Empire.

The Perth Mint was established on June 20, 1899, Two years before Australia’s Federation in 1901. Due largely to the discovery of rich gold deposits, West Australia’s population was growing very fast. It was used by large numbers of miners who came from all over to use the mint as a way of depositing their mined gold to be minted into gold pieces that could then be used. This was because at the time, there was very little money in Perth that could successfully be exchanged for the gold that the miners had. Although Federation of Australia occurred in 1901, it remained under the control of the United Kingdom until 1970. It achieved arguably the purest of all gold in 1954 when it was able to produce a 13 troy ounce proof plate of six nines. The Royal Mint was actually so impressed that it ended up ordering a quantity of the gold so that it could serve as a benchmark for its own standards of minting gold.

Today, the Perth Mint is part of an elite number of world mints whose pure gold, silver and platinum legal tender coins are trusted without question. Like the historical Australian Nugget, the Australian Lunar Gold and Silver Coin Series and the Australian Kookaburra Silver Coin Series are extremely and extensively sought out after by bullion investors from all around the world. Up to 2000, The Perth Mint stood on par with the mint in the United States by consistently having a refined gold output of about 45,000 tons, which made up 3.25% of the total weight of gold produced by humankind.

In October of 2011, The Perth Mint broke the record that was previously held by The Royal Canadian Mint for the heaviest, largest and most valuable gold coin. The coin is approximately 80 centimetres in diameter and 12 centimetres thick, and made of 2,231 pounds of 99.99% pure gold. It is legal tender in Australia with a face value of A$1 million but at the time that it was minted it was valued at A$53.5 million.

As of today, the mint continues to provide refining and other services to the gold industry and manufactures as well as many coin related numismatic items for investors and coin collectors. The Perth Mint still remains responsible for manufacturing and marketing most of Australia's legal tender and precious metal coins, including proof quality Australian Nugget gold coins, Australian Platinum Koala coins, Australian Silver Kookaburra coins, Swan series coins and bullion and it doesn't look like it's going to stop anytime soon.