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.
Discovered during the 1890s, the Golden Mile near Kalgoorlie was thought to be the richest square mile of gold reserves in the world. Most of its original workings were swallowed up during the 20th century with the creation of an enormous open cast pit, now measuring some 3.5 kilometres long, 1.5 kilometres wide and more than 600 metres deep. To this day, the Super Pit continues to produce remarkable quantities of gold. |