HOME
The Info List - Perth Mint


--- Advertisement ---



The Perth Mint
Perth Mint
is Australia's official bullion mint and wholly owned by the Government of Western Australia.[2] Established on 20 June 1899, two years before Australia's Federation in 1901, the Perth Mint was the last of three Australian colonial branches of the United Kingdom's Royal Mint
Royal Mint
(after the now-defunct Sydney Mint
Sydney Mint
and Melbourne Mint) intended to refine gold from the gold rushes and to mint gold sovereigns and half-sovereigns for the British Empire.[3] Along with the Royal Australian Mint, which produces coins of the Australian dollar for circulation, the Perth Mint
Perth Mint
is the older of the two mints issuing coins that are legal tender in Australia.

Contents

1 History 2 Cryptocurrency 3 See also 4 References 5 External links

History[edit] After the foundation stone was laid in 1896 by Sir John Forrest, the Mint opened on 20 June 1899. At that time, Western Australia's population was growing rapidly (23,000 in 1869 and 180,000 in 1900) due largely to the discovery of rich gold deposits in Coolgardie, Kalgoorlie and Murchison areas of the colony. As there was very little money available in Perth for which miners could exchange gold to pay for goods, the Diggers who flocked to the then colony of Western Australia
Western Australia
in huge numbers from other parts of Australia
Australia
and from around the world, deposited their raw gold at the Perth Mint
Perth Mint
where it was minted into gold coins. Although Federation occurred in 1901, the Mint remained under the jurisdiction of Great Britain until 1 July 1970, when it became a statutory authority of the Government of Western Australia. Between 1899 and 1931, the Perth Mint
Perth Mint
struck more than 106 million gold sovereigns and nearly 735,000 half-sovereigns for use as currency in Australia
Australia
and throughout the British Empire. The Mint stopped making gold sovereigns when Britain abandoned the gold standard in 1931. Nevertheless, the refinery remained busy as staff turned their skills to making fine gold bullion bars. But it was not long before the Mint was involved again in the production of coins. During World War II, the Perth Mint
Perth Mint
began minting the Australian coinage from base metals. Up until the end of 1983, the Perth Mint
Perth Mint
also manufactured much of Australia's lower-denomination coin currency.[4] The Perth Mint
Perth Mint
achieved "arguably the purest of all gold" in 1957 when the mint produced a 13-troy-ounce (400 g) proof plate of six nines - 999.999 parts of gold per thousand.[1]:58 The Royal Mint
Royal Mint
was so impressed that it ordered some of the gold as the benchmark for its own standards.[5] The Mint's new direction was formalised in 1987 with the creation of Gold Corporation by a State Act of Parliament.[6] Under a unique agreement with the Commonwealth of Australia's Department of the Treasury, the Mint's new operator was empowered to mint and market gold, silver and platinum Australian legal tender coinage to investors and collectors worldwide. Prime Minister Bob Hawke
Bob Hawke
launched the Australian Nugget
Australian Nugget
Gold Coins Series in 1987. The first day's trading yielded sales of 155,000 ounces of gold worth $103 million, well above the sales target of 130,000 ounces to the end of June. Today, the Perth Mint
Perth Mint
is a member of an elite group of world mints whose pure gold, silver and platinum legal tender coins are trusted without question. Like the Australian Nugget, its Australian Kookaburra Silver Coin
Coin
Series and Australian Lunar Gold and Silver Coin
Coin
Series are extensively sought after by bullion investors worldwide. Up to 2000, the Mint's refined gold output totalled 4,500 tonnes, representing 3.25% of the total weight of gold produced by humankind. This is about the current holdings of gold bullion in the United States Treasury's Fort Knox Bullion
Bullion
Depository.[4] In 2003, the Perth Mint
Perth Mint
officially opened an 8,400 square metre state-of-the-art manufacturing facility next door to its original limestone building. Dominating the Mint's heritage precinct, these two important buildings are powerful symbols of more than 100 years of minting excellence in Western Australia. In October 2011, the Perth Mint
Perth Mint
created the world's largest, heaviest and most valuable gold coin, breaking the record previously held by the Royal Canadian Mint.[7] The coin is approximately 80 centimetres (31 in) in diameter and 12 centimetres (4.7 in) thick, and made of 1,012 kilograms (2,231 lb) of 99.99% pure gold.[8] It features, on the obverse side, the effigy of Elizabeth II, and a red kangaroo on the reverse side. It is legal tender in Australia
Australia
with face value A$1 million, but at the time of minting it was valued at A$53.5 million.[9] Today, the Mint continues to provide refining and other services to the gold industry and manufactures many coin related numismatic items for investors and coin collectors. It is responsible for manufacturing and marketing most of Australia's legal tender precious metal coins, including proof quality Australian Nugget
Australian Nugget
gold coins, Australian Platinum Koala
Platinum Koala
coins, Australian Silver Kookaburra coins and bullion. Cryptocurrency[edit] In January 2018, the Perth Mint
Perth Mint
announced it would produce a blockchain based cryptocurrency backed by its own bullion (a digital gold currency) in approximately the next 12 to 18 months.[10] See also[edit]

Hints to Prospectors and Owners of Treatment Plants Perth Mint
Perth Mint
Certificate Program Perth Mint
Perth Mint
Swindle History of Western Australia

References[edit]

^ a b c Thomas, Athol. 90 Golden Years, The story of the Perth Mint. Gold Corporation.  ^ "Group Structure The Perth Mint". www.perthmint.com.au. Retrieved 2016-09-12.  ^ "Attractions in Perth Western Australia". Perth Tourist Centre. January 2010.  ^ a b "The Perth Mint". Gold-Net Australia
Australia
Online. September 2002. Retrieved 2010-01-03.  ^ "History". The Perth Mint. Retrieved 2017-10-21.  ^ Gold Corporation Act 1987 ^ Australia
Australia
unveils world's largest gold coin in Perth ^ "Perth mint unveils $53m coin". The Australian. 27 October 2011. Archived from the original on 19 March 2014.  ^ "World's biggest gold coin worth $53m". The Sydney Morning Herald. 27 October 2011. Retrieved 21 August 2017.  ^ Cryptocurrency
Cryptocurrency
backed by gold being developed by Perth Mint
Perth Mint
to entice investors back to precious metals, Australian Broadcasting Corporation, 24 January 2018, retrieved 2 February 2018 

External links[edit]

Wikimedia Commons has media related to Perth Mint.

Official Perth Mint
Perth Mint
website Perth Mint
Perth Mint
Bullion
Bullion
website A Comprehensive Guide to the Perth Mint
Perth Mint
1oz Bar State Heritage record

Coordinates: 31°57′26″S 115°52′09″E / 31.957105°S 115.869284°E / -31.957105; 115.869284

v t e

Australian currency

Decimal coins

1c 2c 5c 10c 20c 50c (round) $1 $2 Coins of the $ Commemorative coins

Decimal notes

$1 $2 $5 $10 $20 $50 $100 Banknotes of the $

Pre-decimal coins

​1⁄2d 1d 3d 6d 1s 2s 5s Pre-£ coins Coins of the £

Pre-decimal notes

5s 10s £1 £5 £10 £20 £50 £100 £1000

Mints

Sydney Mint
Sydney Mint
(1855–1926) Melbourne Mint
Melbourne Mint
(1872–1967) Perth Mint
Perth Mint
(1899–) Royal Australian Mint
Royal Australian Mint
(1965–)

Topics

Australian dollar Australian pound
Australian pound
(obsolete) Banknotes of the Australian pound
Australian pound
(obsolete) Note Printing Australia Pound sterling
Pound sterling
(obsolete) Reserve

.