The main purpose of the new mint was to refine the gold mined in the newly discovered mines and create bullion and Sovereigns from it for use in Australia and throughout the British Empire.
By now, the Perth Mint has become the world leader in the precious metal investment product market. Investors and collectors have complete confidence that the Perth Mint creates the highest quality gold and silver, as well as the finest coins and bars. The Mint also offers precious metal custody services and a range of investment solutions to clients in over 130 countries.
The Perth Mint is also one of the few global refineries accredited to all five major gold exchanges: LAUTM, the New York Mercantile Exchange, the Dubai Metals and Commodities Centre, the Shanghai Gold Exchange, and the Tokyo Commodity Exchange. These certificates show that the Perth Mint’s branded bars and coins are recognized and traded around the world, furthering its reputation as a market leader in precious metal products.
Using a unique combination of innovation, state-of-the-art manufacturing techniques and artistic taste, these stunning products are in high demand by collectors and investors around the world. From investment products to commemorative issues, the Perth Mint creates stunning designs with amazing Australian flavor.
Among the products of the Mint, which are in the greatest demand, it is necessary to single out investment coins. One of the most popular bullion coins in the world is the Kangaroo coin minted at the Perth Mint. Each coin has legal tender status under the Australian Currency Act 1965, which guarantees its weight and fineness. The range of coins starts at 1/20 ounce and ends at 10 kg. The images on the reverses change annually. Some editions are limited edition. All this allows investors to find a coin to their liking and affordability.
In 1987, the Perth Mint opened up the global gold bullion market to Australia with the Australian gold bullion coin, the Nugget. Since then, the program has evolved to include a series of gold, silver and platinum Kangaroo coins, silver Kookaburra coins, silver Koala coins, and gold and silver Lunar Calendar (Lunar) coins.
The Perth Mint still operates in the original premises, which are a magnificent reminder of the “golden” beginning of the history of Western Australia.
Perth Mint Products and Services
The Mint’s product range includes gold, silver and platinum coins, along with gold and silver bars. The company also provides services for the safe storage of precious metals.
The Perth Mint manufactures and distributes gold, silver and platinum Kangaroo coins, gold and silver Lunar coins, and silver Kookaburra and Koala coins.
The bar features recognizable symbols of the Australian fauna: a majestic swan with a special seal from the Perth Mint and stylized images of a kangaroo on the reverse.
Gold, silver and platinum bullion coins from the Kangaroo series
The kangaroo is Australia’s best known symbol of wildlife and is the inspiration for Perth’s most important bullion coin series. The Australian Kangaroo series includes coins of various weights (1, ½, ¼, 1/10 oz), 1 kg coin, 1 oz silver and platinum coins.
In order to make the program distinctly Australian for international buyers, the decision was made to change the image on the main coin.
In 1990, the series of gold bullion coins was relaunched featuring Australia’s most famous animal, the kangaroo. As with the Nugget, the image for “Kangaroo” was created by Devlin.
The 1kg Australian Kangaroo Gold Coin is the most representative example of the Australian bullion coin program. In honor of Dr. Devlin, this edition retains his classic 1989 design of a red kangaroo surrounded by beams of sunlight. The lighter weight gold coins in this series were issued each year with a new image, thus increasing the demand for them from collectors and investors around the world.
First editions of Lunars
In 1995, the Mint released the first gold bullion coin program inspired by the Chinese zodiac, the Australian Lunar (Lunar Calendar) gold coin series. This series is dedicated to folk legends and the adoration of gold among many peoples of Asia.
Taxes can be partially paid with cryptocurrency in the coming years, suggested Tom Tate. In his opinion, the use of digital assets will send an innovative “signal” to young taxpayers.
The city council could accept 95% of the bill in Australian dollars and the remaining 5% in crypto, Blockchain Australia chairman Adam Poulton said.
“We are happy to risk the other five percent, keep it and see how we can use it in the future,” admitted Poulton.
In his opinion, the underlying technology provides “many opportunities”, but the main problem for its development so far is the difficulty of incorporation into bureaucratic organizations, such as local governments.
Promsvyazbank in the first half of this year, the bank will take part in piloting a platform with real digital rubles, Maxim Khrustalev, director of the PSB Digital Financial Assets Center, told RBC-Crypto. According to him, PSB carried out operations with test digital rubles at the beginning of 2022.
The project to develop a digital national currency has been going on for several years. According to the plan published on the Central Bank website, at the end of 2021, a prototype of the digital ruble platform was created. During 2022, legislation was being developed to introduce a new form of currency and testing of the system began.
This year, it is planned to start testing operations on a real digital ruble, first in a limited circle of clients. In the meantime, testing of the platform, in which 15 banks participate, continues.
Testing at the PSB is taking place in accordance with the schedule of the Central Bank, Khrustalev said. “In the near future, digital rubles will become the same familiar payment instrument as non-cash and cash money,” he said.
He added that all the possibilities for working with digital currency will be provided to customers in the existing mobile application.
In the future, new financial services will appear, including government ones, related to the use of smart contracts for settlements in digital rubles, for example, when registering real estate transactions, Khrustalev said. According to him, the task of banks in this process will be to provide customers with the necessary infrastructure for safe and convenient work with a new form of national currency.