Kangaroo / Nugget

The Kangaroo - known until 1989 under the name Australian Gold Nugget - is one of the most significant bullion coins in the world. Issued by the Perth Mint, one of the oldest and most renowned mints in the world, this coin appeals to investors and collectors alike. The current gold price always forms the basis for its valuation.

History and naming

The coin was introduced in 1986 as the Australian Gold Nugget. It was named after the legendary Australian gold nuggets of the 19th century - among them the "Welcome Stranger" (1869), the largest lump of gold ever found in history. From the 1989 issue onwards, the leaping kangaroo replaced the previous nugget motif on the reverse, which is why the name "Kangaroo" became established in general usage. The official name to this day is Australian Kangaroo Gold Coin.

Technical features at a glance

The annual motif change is a deliberate feature - it makes each issue a potential collector's item and at the same time protects against counterfeiting, since current security features are always integrated. The melt value of the one-ounce coin corresponds almost exactly to that of a troy ounce of gold.

Fineness and coin weight

Fine weight (1 oz) = 31.1035 g x 0.9999 ~ 31.1004 g fine gold
Gross weight       = 31.1035 g (exactly 1 troy ounce)

With a fineness of 999.9/1000 the Kangaroo surpasses other classic bullion coins such as the Krugerrand (916.7/1000). The gross weight corresponds exactly to the troy ounce, which simplifies the calculation of the material value.

VAT and tax aspects

Under EU rules the Kangaroo qualifies as investment gold and is therefore VAT-exempt, provided it meets the criteria of the EU VAT Directive (2006/112/EC): coins with a fineness of at least 900/1000, minted after 1800 and legal tender. In Malta, no capital gains tax is levied on the private disposal of movable assets such as gold coins - Maltese CGT applies only to specific assets (immovable property, securities, business interests). This is, however, not tax or investment advice, and individual situations should be clarified with a tax adviser.

Investor and collector aspects

The Kangaroo combines two markets:

• Bullion investors value the globally recognised 999.9 fineness, high liquidity and the competitive premium structure relative to the spot price.
• Collectors benefit from the annual motif change: vintages with particularly popular designs or limited editions can achieve premiums above the pure metal value.

Thanks to its various denominations (from 1/20 oz to 1 kg), the coin is suited both to small savings plans and to larger one-off investments.

Authenticity checking

The Perth Mint relies on multi-layered security features. Buyers can verify coins with the coin weight checker and the authenticity checker. The following are checked:

1. Weight (exactly 31.1035 g for the 1 oz issue)
2. Diameter (32.60 mm) and thickness (2.65 mm)
3. Sound characteristic (ping test)
4. Density (Archimedes method, target value ~ 19.3 g/cm3)

Key takeaway

The Kangaroo is one of the few bullion coins that combine investor and collector value with an annually changing motif, the highest fineness (999.9) and global legal tender status. As a product of the Perth Mint, it stands for Australian minting craftsmanship at the top international level.