One of the largest gold nuggets ever discovered has gone on display at The Perth Mint.

Newmont Mining Corporation’s Normandy Nugget, which was found in a dry stream bed near Kalgoorlie, Western Australia in 1995, can now be seen up close in the Mint’s fascinating Gold Exhibition. Weighing in at 25.5 kilograms, it is the second largest nugget in the world today having escaped being melted down, and is the 26th largest gold nugget ever discovered.

Information published by the University of Southern California, where the 40 million year-old nugget was examined in 1999, showed it to be 80 to 90% highpurity gold. That gives the nugget an intrinsic value of approximately AU$800,000 at today’s gold price, but its uniqueness and historical significance means it would doubtless fetch much more.

Perth Mint Chief Executive Officer Ed Harbuz said the Mint was delighted to be able to put Newmont’s Normandy Nugget on display. “It is a coup for the 100,000- plus people who visit our Gold Exhibition annually to be able to see this important cultural and heritage asset symbolising almost 160 years of gold discoveries in Australia,” he said.

Normandy Mining, now part of Newmont Australia, purchased the nugget in 2000 after the Commonwealth Government objected to attempts by its finder to sell the culturally significant object overseas. It was brought home with the aim of ensuring it remained in Australia for all to see and admire.

Since then, it has been displayed at museums around the world including Denver and Tokyo before Newmont agreed to a long-term loan to the historic Perth Mint. Newmont Mining Corporation (www.newmont.com) was founded in 1921 and is headquartered in Denver, Colorado. It has operations in the United States, Australia, Peru, Indonesia and Ghana, and in 2007, it became the first gold company selected to be part of the Dow Jones Sustainability World Index. In Australia, Newmont owns the Tanami gold mine in the Northern Territory, the Boddington and Jundee gold mines in Western Australia, and is also a joint owner of the Super Pit in Kalgoorlie.
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Recognised throughout the world for their superior quality, superb artistry and Government guarantee of weight and purity, the Perth Mint has unveiled it’s 2010 Australian Bullion Coin Program. These pure gold and silver coins are actives sought after by both investors and collectors.

The comprehensive line-up for 2010 includes two designs for gold bullion coins ranging from 1/20oz up to 10 kilos and three designs for Silver bullion coins from 1/2oz up to 10 kilos.

Gold & Silver Bullion Coins
Struck by The Perth Mint from 99.99% pure gold, each coin is issued as legal tender under the Australian Currency Act 1965, the undisputed guarantee of its weight and purity. Portraying creative new reverse artistry, every 2010 gold bullion coin also features The Perth Mint’s historic ‘P’ mintmark, a traditional symbol of quality trusted by investors worldwide. Uniquely, many of these releases are restricted by mintage, a feature that creates an exciting potential for even greater investment return in the form of a numismatic premium.

AUSTRALIAN KANGAROO GOLD BULLION COINS : 1 kilo, 1oz, 1/2oz, 1/4oz, 1/10oz
A kangaroo is the most instantly recognisable wildlife symbol of Australia. In 2010, The Perth Mint is releasing four small gold bullion coins portraying two kangaroos ‘boxing’ in the outback. In addition, a large 1 kilo Australian Kangaroo coin is available with a classic kangaroo design by Dr Stuart Devlin, AO CMG goldsmith and jeweller to Her Majesty Queen Elizabeth II.

No more than 350,000 1oz coins, 100,000 1/2oz coins, 150,000 1/4oz coins and 200,000 1/10oz coins will be produced in 2010.
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The Perth Mint has announced that it will resume taking orders for a popular range of gold and silver bullion coins from 12 January 2009.

The announcement follows an earlier Perth Mint communication advising clients that as a result of unprecedented worldwide demand, it had been forced to close its new order book for gold and silver bullion coins, except its 1oz Kangaroo gold bullion coin. Orders for popular numismatic products and Depository/Certificate products were, and continue to be, unaffected.

Due to its reputation and extensive connections in the bullion market, the Western Australian State-owned Mint continues to have no problem sourcing wholesale gold and silver. The decision to temporarily suspend taking new orders for gold and silver bullion coins was purely a result of the 100 per cent utilisation of its production capacity.

As of 12 January, the Mint will be resuming orders for a streamlined range of 1oz and 1kg Australian Koala, Australian Kookaburra and Australian Lunar silver bullion coins, as well as 1oz Lunar gold bullion coins.

By limiting the range to these coins and the 1oz Kangaroo gold bullion coin, the Mint expects to be able to increase production volumes from existing production capacity. (more…)