Perth Mint: Australian Nugget 1 oz Gold 1987

The 1987 Australian Nugget 1 oz Gold Coin was the first one-ounce bullion coin issued by the Perth Mint in Australia. It launched a prestigious series that originally featured famous Australian gold nuggets on the reverse, rather than kangaroos as in later years. The 1987 issue is notable for its depiction of the legendary “Welcome Stranger” nugget and its innovative matte-gloss finish. Struck in pure gold of 999.9 fineness (24 karats), it contains exactly one troy ounce of gold and was minted in a quantity of 131,264 pieces. Each coin was originally sealed in a protective plastic capsule, which was uncommon for bullion coins at the time.

Obverse features the portrait of Queen Elizabeth II by Raphael Maklouf, along with the inscription “ELIZABETH II AUSTRALIA” and the face value “100 DOLLARS”.

Reverse displays the famous “Welcome Stranger” nugget from 1869, surrounded by rays and inscriptions including “THE AUSTRALIAN NUGGET”, the year of issue, weight, and gold purity. The reverse was designed by Dr. Stuart Devlin.