Australian Prospector Gold Coin

In 2001 Australia introduced a ‘Prospector’ series of proof gold nugget coins, marking the 150th anniversary of Australia’a first major gold find in 1851. The Australian Prospector Gold Coin eminently captures the zealous spirit of the gold rush in Australia from such places as Bendigo and Ballarat in Victoria, Australia.

This series will run for five years, ending in 2004.

This particular coin is a one troy ounce gold coin of 99.99% pure gold with a proof finish and a frosted colored design on a glossy background. It features the ‘Dry Blowing Design’ which is a scene of two prospectors using the “dry blowing” process to separate gold.

The “dry blowing” process worked in the very dry regions of Australia, where prospectors relied on the wind to blow lighter materials, such as sand and gravel, away from the higher density gold held in their pans. Along with smaller pans, the dry blowing process worked with larger loads using a dry blow machine, which used a rocking motion in the wind to separate the gold bullion.

This is the second design in the Australian Prospector five year companion series or Proof Nugget coins. Other designs include the kangaroo drinking from a billabong.

Each coin has the historic ‘P’ mint mark of the Perth Mint, while the obverse depicts the well-known Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II.

The coin is legal tender in Australia with a monetary denomination of $100 Australian Dollars. Although legal tender the Perth Mint limited the number minted to 1500 coins. This limited number commands a higher premium from collectors because of the rarity.

Other features collectors are interested in is the certificate of authenticity, which originally came with each coin. In addition to the certificate, each coin is housed in a beautiful Jarrah, a type of Australian hardwood, display case featuring a decorative tile inserted in the lid.

The Australian Prospector Gold Coin is most likely a collectors’ item for most, yet some investors might interested in the coin as bullion as well.

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