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.
The Mint says about this coin:
"Featuring a supremely detailed design by internationally renowned coin engraver John M. Mercanti, this extraordinary high relief silver coin celebrates Nike, the Greek mythological goddess of victory.
In Greek mythology, Nike was invited to live on Mount Olympus by Zeus, the king of the gods, as a reward for being his charioteer during the Titan War. Guiding Zeus’s horses through the battlefields, she is said to have bestowed fame and glory in the form of laurel wreaths on his victorious army. Since classical times, artists have often portrayed Nike as a winged figure symbolising victory in both war and peaceful competition." | 
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