Lyla Lindsey
Silver has been used in coinage for thousands of years, dating back to at least 269 BC when the Romans used silver in their currency. Australian silver coins have undergone several changes in composition over the years. Before 1946, Australian silver coins contained 92.5% silver, but this was reduced to 50% silver alloy until decimalisation in 1966. The original 50-cent coin contained 80% silver, but due to the rising value of silver, the public began melting the coins and selling the raw materials for a higher price than the coins' face value. As a result, the 50-cent coin was changed to a 12-sided shape in 1969, and its silver content was reduced. Today, Australian silver coins, such as the Silver Kookaburras and Silver Kangaroos, are primarily sought-after by collectors and investors for their bullion value and attractive designs.
| Characteristics | Values |
|---|---|
| Composition | 75% copper and 25% nickel |
| Silver | |
| Gold | |
| Aluminium bronze | |
| Bi-metal | |
| Platinum | |
| Copper and zinc alloy | |
| Kookaburra design | Yes |
| Lunar series | Yes |
| Anti-counterfeiting measure | Micro-engraved "A" in the word Australia |
| Size | 1 ounce, 2 ounce, 10 ounce, kilogram |
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What You'll Learn
Australian silver coins pre-1946
Australian silver coins are made from various metals, including aluminium bronze, silver, gold, and bimetal. The composition of Australian coins has changed over time, with the introduction of decimal currency in 1966 and fluctuations in the value of metals.
Before 1946, Australian silver coins were primarily made of sterling silver, with a purity of 92.5%. These pre-1946 coins are now scarce and historically significant. They include denominations such as florins, shillings, sixpences, and threepences. Some bags of these coins may also contain occasional British coins and coins from British colonies.
In 1946, the Australian Commonwealth government reduced the silver content in circulating silver coins from 92.5% to 50%. These “post” 1946 silver coins were struck between 1946 and 1964 and include threepences, sixpences, shillings, and florins.
The original 50c coin, introduced after the announcement of the Australian Dollar in 1963, contained 80% silver and 20% copper. However, due to the rising value of silver, this coin was only produced for one year and then withdrawn from circulation. The value of the silver in the coin exceeded its face value, leading to people melting the coins and selling the raw materials for profit.
Today, Australian coins, such as the 5c, 10c, and 20c pieces, are referred to as "silver" but are actually made of 75% copper and 25% nickel.
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50c coins
The 50-cent coin, first introduced in Australia in 1966, was originally made from 80% silver and 20% copper. However, as the value of silver rose, the coin's bullion value became more than its face value, so it was withdrawn from circulation in 1968. The coin was then reissued in 1969 with a new composition of cupronickel (copper and nickel alloy) and a distinctive dodecagonal (12-sided) shape. This new shape not only helped to distinguish it from the 20-cent coin but also became a unique symbol of Australian numismatics.
The 50-cent coin is the third-highest denomination coin of the Australian dollar and is the largest and heaviest coin in circulation in the country. It weighs 15.55 grams and measures 31.51mm across. The front side of the coin features a kangaroo and an emu on opposite sides of the Australian coat of arms, while the backside displays the ruler of Australia, Queen Elizabeth II.
Over the years, the 50-cent coin has featured different portraits of Queen Elizabeth II, with five different designs in total. The first portrait, used from 1966 to 1984, was designed by Arnold Machin, followed by Raphael Maklouf's design from 1985 to 1998. From 1999 to 2019, the coin featured a portrait by Ian Rank-Broadley, and since 2019, the coin has borne a portrait by Jody Clark.
The 50-cent coin has also been used to commemorate various Australian milestones, events, and cultural heritage. For example, in 1970, it featured a variation of the reverse design to commemorate the bicentennial of Lieutenant James Cook's landing in Australia. Other commemorative designs include the 2000 Millennium 50c coin and the 2016 Decimal Changeover coin. Rare issues, such as the original round 50c coin from 1966 and coins with production errors, are particularly prized by collectors.
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Kookaburras and Lunar series
Australian silver coins are made from various metals, including aluminium bronze, silver, gold, and bi-metal. The Royal Australian Mint has produced coins with different compositions over the years, and the specific metal composition of Australian silver coins has varied depending on the coin denomination and the year of minting.
Now, let's focus on the Kookaburras and Lunar series:
The Australian Silver Kookaburra coin, minted by the Perth Mint, is one of the longest-running silver bullion coin series from Australia. It was first introduced in 1990 and has continued annually since then, making it one of the few coins to deal with mintage maximums on its primary 1-ounce silver coin. The Kookaburra coin is known for its annual design changes, with the obverse side depicting the reigning monarch and the reverse side featuring a kookaburra, a bird native to Australia. The purity of the Kookaburra coins was .999 fine silver until 2018 when it increased to .9999 silver. These coins are minted in four sizes: 1000 grams, 10, 2, and 1 troy ounces, with the one troy-ounce coin having a capped maximum mintage. The Kookaburra series has gained popularity among collectors due to its yearly design changes and limited production of the one-ounce coins, making them highly collectible.
The Perth Mint also introduces special editions within the Kookaburras series, such as privy-marked, coloured, and gilded versions. The Kookaburra coins are shipped in individual plastic capsules, while the one-ounce coins are shrink-wrapped in rolls of 20, with five rolls per box, totalling 100 coins. The Kookaburra series has played a significant role in the silver bullion market, attracting investors and collectors alike.
In addition to the Kookaburras series, the Perth Mint also offers the Australian Lunar series, which celebrates the Chinese zodiac and features various designs representing the animal signs of the lunar calendar. These coins are also made of silver and are popular among collectors due to their limited mintages and unique designs. The Australian Lunar series provides another avenue for collectors and investors interested in silver bullion coins with cultural significance.
The Kookaburras and Lunar series have contributed to the diversity and collectability of Australian silver coins, attracting both local and international enthusiasts. The intricate designs, limited editions, and high purity of these coins have made them sought-after items in the numismatic world.
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Composition of 10c, 20c, and 50c coins
The 10c, 20c, and 50c Australian coins are made up of the same material. The 20c coin is made from 75% copper and 25% nickel (cupronickel). It is 28.52mm in diameter and weighs 11.31 grams. The standard circulation design is the platypus by Stuart Devlin and was first issued in 1966 at Australia's changeover to decimal currency.
The 50c coin was first introduced with decimal currency on 14 February 1966. The original design featured the Commonwealth Coat of Arms struck on a coin made from 80% silver. However, as the silver price rose above the face value of the coin, the Mint suspended striking it in March 1968. Although it was rumoured that the Mint lost money striking the fifty cent, all the metal used in the manufacture of the 36.5 million coins produced was purchased before the price rise.
The 10c coin is also made of cupronickel, like the 50c and 20c coins.
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Silver production in Australia
Australia is the world's eighth-largest producer of silver. In 2022, approximately 1.4 thousand metric tons of silver were mined across the country, a slight increase from the previous year, which saw around 1.36 thousand metric tons mined. Australia accounts for 4% of global production, with the largest producers being Mexico, China, Peru, and Chile.
The leading silver producers in Australia are South32, Glencore, BHP, and Evolution Mining. During 2020-2021, South32's output decreased by 14%, while Glencore's output decreased by 25%. In contrast, output from BHP increased by 4%. The Cannington Mine, owned by South32, is the largest silver mine in Australia by production. It is an underground mine located in Queensland that produced an estimated 11.18 million ounces of silver in 2023. The Mount Isa Zinc Mine, owned by Glencore Plc, is another significant producer, generating an estimated 3.84 million ounces of silver in 2023.
Silver has been used in Australian coinage, most notably in the original 50-cent coin, which contained 80% silver and 20% copper. However, due to the rising value of silver, this coin was only produced for one year and then withdrawn from circulation. The metal in the coin became worth more than its face value, leading to people melting their coins and selling the raw materials for profit.
Today, Australian coins are made from various metals, including aluminium bronze, silver, gold, and bi-metal compositions. The current 50-cent coin is dodecagonal (12-sided) and primarily composed of copper (75%) and nickel (25%). The one-dollar and two-dollar coins, introduced in the 1980s, have a content of 2% nickel, 6% aluminium, and 92% copper.
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Frequently asked questions
Australian coins are made from a variety of metals, including aluminium bronze, silver, gold, and bi-metal. The composition of Australian coins has changed over time. For example, the original 50c coin contained 80% silver and 20% copper, but it was replaced by a 12-sided coin made of 75% copper and 25% nickel.
Australian silver coins issued by the Perth Mint, such as the Silver Kookaburras and the Silver Kangaroo Coins, are typically made of 99.99% pure silver. Pre-decimal Australian silver coins, on the other hand, carried 92.5% silver before 1946 and were debased to a 50% silver alloy until the decimal change in 1966.
The original 50c coin, which contained 80% silver, was withdrawn from circulation because the value of the metal exceeded its currency value. The public had started to melt their coins and sell the raw materials for more than the coins were worth.
Yes, Australia has also minted "gold" one-dollar and two-dollar coins in the 1980s, which are made of 2% nickel, 6% aluminium, and 92% copper. Additionally, there were previously one-cent and two-cent coins made of an alloy of copper and zinc, but they were discontinued in 1991 due to the cost of production.
