Australian Platinum Koala facts for kids
The Platinum Koala is a special platinum coin from Australia. It was made by the Perth Mint between 1988 and 2000. These coins are called "bullion coins," which means they are made from valuable metal like platinum and are bought for their metal content, not just their face value. Even though they have a value printed on them, they are usually sold for much more, based on the current price of platinum. In Australia, the Platinum Koala is considered officially legal tender, meaning it can be used as a legal way to pay for things, though most people buy them as an investment.
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How the Platinum Koala Started
In 1987, the Australian Government decided to create platinum and silver coins. They had already seen how popular their gold coins were, which started a year earlier. So, they thought platinum coins would be a good idea too! The very first Platinum Koala coins were made in September 1988 in a city called Perth.
To make the coins even more popular, in 1991, they started making them in bigger sizes. These included coins weighing 2 ounces, 10 ounces, and even 1 kilogram. At that time, the 1-kilogram coins were the heaviest bullion coins in the world! However, the production of the Platinum Koala stopped in 2000. This was because not many people were buying them anymore. For example, in 2000, only about 2,000 coins were made, even though they could have made 100,000.
What the Coin Looks Like
Each Platinum Koala coin has two sides. The front side, called the obverse, shows a picture of the Queen of Australia, Elizabeth II. The back side, called the reverse, features an image of a koala, which is a famous Australian animal.
Most of the coins have the initials "JB" on the koala side. These are the initials of James Brown, who designed that part of the coin. Other artists who designed different versions of the coin over the years include Raphael Maklouf, Miranda Cornell, and Darryl Bellotti. The coins were made in many different sizes, from very small (1/20 of an ounce) to very large (1 kilogram).
Coin Sizes and Values
Here is a table showing the different sizes of Platinum Koala coins and their official face values, along with their thickness and diameter:
| Weight | 1/20 oz | 1/10 oz | 1/4 oz | 1/2 oz | 1 oz | 2 oz | 10 oz | 1 kg |
|---|---|---|---|---|---|---|---|---|
| Face value, $ | 5 | 10 | 25 | 50 | 100 | 200 | 1,000 | 3,000 |
| Thickness, mm | 1.32 | 1.40 | 1.90 | 2.03 | 2.7 | 3.8 | 7.9 | 13.9 |
| Diameter, mm | 14.1 | 16.1 | 20.1 | 25.1 | 32.1 | 40.60 | 60.30 | 75.30 |
Why it's Special
The Platinum Koala never became as famous as some other platinum coins, like the American Platinum Eagle. This was mainly because it wasn't advertised much in the United States.
Like most platinum coins made for investment, Platinum Koalas are kept safe in a clear plastic case. When these coins are sold, their price depends on how much platinum is worth at that moment, not the small face value printed on the coin. Since 1986, the Perth Mint has used over 18,000 kilograms of platinum to make coins. About 85% of these coins were sold to other countries. This made the Gold Corporation, which owns the Perth Mint, one of Australia's top 30 companies for earning money from exports.
See also
- American Platinum Eagle
- Australian Silver Kangaroo (bullion)
- Australian Silver Koala
- Australian Silver Kookaburra
- Platinum as an investment
- Canadian Platinum Maple Leaf
- Platinum Panda
