Australian Bullion coins are composed of Gold, Silver or Platinum. These are released every year with a different design making them one of the few bullion type coins to change design each year.
They are of a specimen or uncirculated quality. They are known as bullion or specimen coins. In other words they are not finished to the polished mirror like finish you will find in proof coins but are of a better quality than coins issued for circulation.
These specimen bullion coins cover the Kookaburra, Koala and Lunar releases. They have relatively high mintage numbers and are released worldwide. They come in capsules with no Certificate of Authenticity (COA) or packaging box. The mint last year also released a new type of bullion coin that comes in a tube, similar to the US Eagle coins. The first design been a saltwater crocodile.
Although seemingly large quantities of these coins are minted, for example 500,000 Kookaburra coins every year, the figures are tiny when compared to other bullion coins such as the American eagle, which has mintage numbers in the millions.
The precious metal bullion coins offer a great place to start a collection with the coins always worth at least the silver price and of course potentially a lot more. They are really a cross between bullion bars and collectible commemorative type coins.
The advantage is they tend to somewhat track the price of bullion and are recognized worldwide and are easily saleable at consistent prices.
Prices of bullion coins can be quite sensitive to the price of bullion especially the later releases. However the lunar series can sell at a hefty premium to the bullion price.
The Government certifies these coins as legal tender thereby guaranteeing quality, weight and purity of the coins. A nominal value is therefore assigned to the coins which is why you see so many Bullion coins with the legal tender value of $1.
It is just a mechanism so the Government can monitor its guarantee of weight and purity over the coins.
The 1 oz silver coins are the most popular but they are available in many different weights.
Bullion coins can be purchased direct from the mint and many bullion dealers including Perth Bullion, ABC Bullion and many more. You can also purchase through online sites such as eBay, Bonanza and Private sites.