The Australian one ounce silver piece (abbreviated as 1 oz and designated with Ag for "silver") is a bullion and commemorative 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 silver bullion coin by the Perth Mint is part of a series of coins featuring the Super Pit, issued since 2019.
The Super Pit, situated adjacent to the historic mining town of Kalgoorlie some 600 kilometres inland from Perth, is one of the world’s greatest open cast gold mines. The original diggings, which started back in 1893, sparked the Western Australian gold rush and provided the impetus for the opening of The Perth Mint. Still contributing large quantities of gold, this massive mine is 3.5 kilometres long, 1.5 kilometres wide and more than 600 metres deep - and is continuing to expand.
Portraying an artistic impression of the mine’s deep chasm, this coin is struck from 1oz of pure silver. |