Gold & Silver Forum - Australian Nugget questions

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Australian Nugget questions

Hi all -

I just picked up a couple of 1/2 oz Australian Nuggets, 1986 and 1987. I've since learned that 1986 was the first year they were made, and they had different pictures of nuggets on them for 1986, 1987, and 1988, then they switched to pictures of Kangaroos - also different each year. (So I found out they are now often called "Kangaroos" instead of "Nuggets," even though they still say "The Australian Nugget" on them.) They are made by the Perth Mint and (like all their stuff) they are very pretty - they have a proof-like mirror finish.

A couple of questions to those who know more than me:

(1) Is there any semi-numismatic value to these coins, since the designs differ each year and I have the first year of issue?

(2) Now that I think about it, is it possible these coins are proof? Or are the regular strikes "proof-like" as well? Mine have mirrored backgrounds and frosted designs.

Any other info? I'm glad I picked them up - interesting and pretty coins. They're also my first 24K coins (.9999 fine). :clap2:

Re: Australian Nugget questions

"Is there any semi-numismatic value to these coins"

Not really, they sell in the GAE, Maple range. Very nice coins though.

Re: Australian Nugget questions

nuggets are usually $15-$20 over spot for buying....not sure what dealers pay for them though in relation to spot.

Re: Australian Nugget questions

Quote:

Originally Posted by furious_pete (Post 634865)

Only proof coins were manufactured in 1986. The proof designs were then reused for the next years business strike coins. The cycle was then repeated until last year. Any 1986 gold nugget is a proof. It should be fairly obvious to tell the proofs from the business strike coins, especially in the earlier years when nuggets were still on the coins and the business strikes were not really reverse proofs.

Thanks for the info ... turns out they ARE both proof (the more I looked at them, the more I thought they were, and a little more research confirmed it based on the designs, now that you told me what to look for). Like you said, the 1986 coins were ONLY made in proof, mintages of 15,000 per size. The 1987 business strikes used the same 1986 design, while the 1987 proof used a different design (mine is different). Plus, they both have the mirrored fields and frosted designs.

I was very happy with my purchase, now I am VERY very happy! Very cool coins! And thanks again for the info! :coolbeer:

Anyone have any idea how much the proofs would sell for?