Silver Kookaburra or the Australian Silver Kookaburras are famously produced in Pert Mint. They are composed of .999% silver, and this remains to be the few series to have various designs annually. The producers tend to change the design yearly so that the others will become scarce.
The kookaburras meet the Internal Revenue’s Standards when it comes to minimum purity requirements for IRA investing. If you want to add this into your IRA as a hedge against inflation or as a diversification tool, it’s best if you could visit sites like https://www.metal-res.com/gold-ira/australian-kookaburra-coins/ for more information on how you could obtain them. Here’s a guide about their design and history that may help you out.
Introduction to the Coins
The first silver bullion and coins depicting the laughing kookaburra bird appeared in 1990. This was the same year that the Gold Kangaroos became popular, and these are some of the few that changed their designs to increase their overall value.
Most of the coins in Australia usually bear the image of their fauna, and the “kingfisher” is one of them. This is a bird species that is unique to the continent and is very adept at hunting. Most of them are extremely loud, and this is where their laughing calls became popular. They also have magnificent and fantastic feathers.
Since the release of the kookaburra bullion, it quickly rose to popularity because so many people loved it. At its initial release, the Perth Mint only produced the one troy ounce silver coins, but later on, they added larger denominations and weight.
The Perth Mint is very strict when it comes to putting a cap on the yearly production of the 1-ounce coin. From the year 1990 to 2010, there was a limit of 300,000 on each individual currency, but this was raised to 500,000 because of its greater global demand. The other sizes except for the 1-ounce don’t have any set caps and are available upon request.
Physical Characteristics of the Australian Kookaburra
The coin’s design has an image of Queen Elizabeth II on the front side of the obverse. Her Royal Highness usually shows this side, but the age will vary according to the year of the coin’s production or mintage. Read more about the history of the royals appearing on coins on this page here.
Earlier ones in the 1990s depicted a younger-looking queen, but most of the coins in Australia were later minted with the mature version of the queen that looks less serious. There’s the wrapping around the image of the queen where the words 1 DOLLAR, AUSTRALIA, and ELIZABETH II are shown.
The reverse or rear side carries the images of these unique kookaburra birds. They have different variations according to the year when they were released. At the bottom of the image, you can see the words “THE AUSTRALIAN KOOKABURRA” running along the edges, as well as the year of the mintage. There’s a space somewhere that shows a tiny script that includes the coin’s metal purity and weight denomination.
Throughout the entire history of the mintage of the Kookaburra, some versions were released during special occasions, and others went to private collectors and investors. There’s also a one-time production of the Dragon Privy Silver Kookaburra, where only 80,000 of them became available worldwide.
The bullion comes in four different weights and diameters. Unlike the offerings of other silver coins, most of the kookaburras don’t come with infractions like a half-ounce variety or ¼ ounce. Instead, you can get it at 1, 2, 10 troy ounces as well as 1 kilogram. The face value can range from $1, $2, $10, and $40. The diameters are 40.60 mm, 53.30 mm, 75.50 mm, and 101.00 mm, respectively.
An added protective layer is usually present upon the coins’ shipment. Bulk purchases will require them to be put into a display box, while individual buyers may get a hardened plastic casing.
The face value is different from the actual market value of this coin. The face value is the transactional amount set by Australian law when you use the Kookaburra as a form of currency. While they are considered legal tender in the Australian government, the prices are symbolic, and the rare kookaburras are worth more than their face value.
The intrinsic value and face value of the silver bullion are entirely separate from each other. The value is determined by the current spot price of the silver and the rarity of the coin. Since the fluctuation usually happens daily, the market will also change without prior notice. It’s best if you could get live metal pricing when you begin trading for the Kookaburra, so you’ll be up-to-date with the latest news about them.
One-ounce coins have a unique mintage yearly, and they come in limited supplies. This is when investors are usually making money out of them, but others choose to place them in a self-directed individual retirement account.
When you place physical assets like genuine silver into your IRA, this can act as a diversification tool for your portfolio. Know that the spot price of silver is generally lower than gold, but this is a more affordable investment for people who are just starting out. This is when you can get a feel about the market involving precious metals, and the IRS usually allows you to carry this into your IRA to observe how they perform.
The Australian Kookaburra meets the minimum purity requirements of the IRS, and it’s best if you could start looking for a depository if you’re interested in purchasing these rare coins.