Gold Ounce 1987 Australian Nugget - Poseidon, Coin from Australia - detailed information

The Australian one-ounce gold piece (abbreviated as 1 oz and designated with Au for "gold") is a bullion coin format. Uniquely, in Australia there are two mints authorised to strike legal tender: the Royal Australian Mint (which also makes the country's circulating coinage) and the Perth Mint which only makes collector and bullion coins, as well as other bullion products.

Both mints endeavour to create coins with attractive designs, and to introduce new designs and themes often, in order to raise the numismatic value of the coins over the value of previous metal used.

This gold coin is part of The Australian Nugget bullion series, and features the Poseidon natural gold nugget.

Named after the horse that had won the Melbourne Cup that year, the Poseidon Nugget (discovered in 1906 near Tarnagulla, Victoria, Australia) is one of the world's most renowned gold nuggets, weighing approximately 953 ounces (around 27 kilograms). Its remarkable size and significance sparked a gold rush in the region and symbolised the allure of wealth during the Australian gold rush era. The nugget remains a historical icon of Australia's gold mining heritage.