Description
1987 1oz Gold Nugget – Poseidon Nugget
Country: Australia
Manufacturer: The Perth Mint
Diameter: 32.69 mm
Purity: 99.99%
Weight: 1 troy oz (31.1035 grams)
This 1987 1 oz Australian Gold Nugget – Poseidon is a .9999 fine gold proof coin issued by The Perth Mint. It marks the very first release in the Australian Nugget series, which later evolved into the well-known Gold Kangaroo series.
The reverse design showcases the famous Poseidon Nugget, one of Australia’s most celebrated gold discoveries, unearthed in Victoria in 1906 and weighing an astounding 953 ounces. The intricate design is the work of artist Dr. Stuart Devlin, with the nugget name and discovery date engraved as part of the detail.
The obverse features the third coinage portrait of Her Majesty Queen Elizabeth II, designed by Raphael Maklouf, with inscriptions denoting the issuing country, face value, and year of issue.
Struck in .9999 pure gold with a proof finish, this coin was issued only in proof format, making it especially desirable for collectors. The total mintage is limited to 12,524 coins worldwide, with just 1,522 sold individually and the remainder issued as part of four-coin proof sets.
Key Highlights:
- Contains 1 troy ounce of 99.99% pure gold
- Proof-only release (no bullion version was issued for 1987)
- First coin in the Perth Mint’s Australian Nugget series
- Obverse: Portrait of Queen Elizabeth II by Raphael Maklouf
- Reverse: The Poseidon Nugget design by Stuart Devlin
- Face value of $100 AUD, issued as legal tender under the Australian Currency Act 1965
- Extremely limited mintage of 12,524 coins
This iconic proof coin represents the beginning of one of Australia’s most prestigious bullion coin programs, making it a prized addition to any gold coin collection.
Note: Stock may include coins purchased from the secondary market in good condition.
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