Everything You Need to Know About Koala Silver Coins (2023 Update)
Introduction
Upon the initial encounter of European settlers with koalas in Australia, they mistakenly identified the arboreal creatures as either monkeys or bears. Despite the lingering usage of the term "koala bears" by some individuals, koalas are, in fact, marsupials, belonging to the same group as kangaroos and wombats.
Koalas are one of Australia's most beloved animals, and for decades, they have been immortalized on silver coins. Koala silver coins are a popular investment choice for both collectors and investors alike. In this article, we'll explore everything you need to know about these silver koala coins, from their history to their value in today's market.
History of Koala Silver Coins
The Perth Mint has a long history of creating commemorative and investment-grade coins featuring various iconic Australian animals, and the koala is among the most popular choices.
The first koala coin was minted in the 1980s by the Perth Mint in Western Australia, marking the beginning of the Australian Koala series. It wasn't until 2007 however, that the Perth Mint launched the Australian silver koala coins. Since then, koala silver coins have been minted annually in various sizes of this beautiful coin, including 1 oz, 2 oz,5 oz, 10 oz, and even 1 kilo.
The obverse side of the earliest Silver Koala coin displayed an effigy of Queen Elizabeth II, the fourth-generation portrait Ian Rank-Broadley designed, a standard feature on Australian coins.
The reverse side of the 2007 Silver Koala coin depicted a single koala, with its arms wrapped around a eucalyptus tree branch, emphasizing the natural habitat of this iconic Australian marsupial. The design aimed to capture the charm and characteristic features of the koala.
Design & Characteristics of Koala Silver Coins
The designs on the koala silver coins typically depict a koala in its natural habitat, perched on a eucalyptus tree branch, munching on eucalyptus leaves, or in other characteristic poses. Koala silver coins are made of .9999 pure silver.
One unique feature of the silver koala coin is the alternating design on the reverse side that changes every year, making each edition unique and highly sought after by collectors. Alongside the depiction, you will find the inscriptions 'KOALA' and the 'P' mintmark representing The Perth Mint. Additionally, the reverse side also features the coin's weight, purity, and the year of its minting.
The obverse side of the coin often features the face value (i.e. one dollar), Australia, and an effigy of Queen Elizabeth II, as Australia is a constitutional monarchy. As the obverse features the reigning monarch's effigy, the change on the coin's obverse is less frequent. In some cases, coins minted in years when the obverse side was changed could be highly sought after.
An example is the 2023 Australian Koala silver coin, where the Perth Mint released the Queen Elizabeth II Memorial Obverse on collectable and investment coins following the passing of Her Majesty Queen Elizabeth II in 2022. The memorial obverse of the 2023 Australian Koala silver coin features British engraver Jody Clark’s portrait of Queen Elizabeth II and the culminating years of her reign from 1952-2022.
The coin's obverse also features the engravings of the face value (i.e. one dollar), as well as Australia and Elizabeth II.
The koala designs are highly detailed and are a testament to the Perth Mint's craftsmanship.
Unique Features of the 2023 Silver Koala Coin
The 2023 Silver Koala contains certain key features that make specifically this year's coin unique.
The 2023 koala silver coin commemorates the reign of Queen Elizabeth II and honors her legacy. The Australian Koala coin is different from the Britannia coin, since the Britannia coin produced by the Royal Mint only bears the year 2023 on it and also features King Charles III, whereas the 2023 koala coin incorporated the 70 years that she was Queen. It is also to be expected that like the Britannia coin, the Koalas will presumably feature King Charles III in 2024; making this coin an unicum for coin collectors.
Why collect Koala Silver Coins?
Koala silver coins are highly collectible due to their distinctive designs, variety of mintage, and global popularity. Being produced by the Perth Mint, these coins also have legal tender in Australia, meaning that these coins are backed by the Australian government. Collectors value the coins for their beauty and rarity all over the world, while investors appreciate their potential for profit.
Investing in Koala Silver Coins
Investing in koala silver coins can be a wise decision for those looking to diversify their investment portfolio. The value of silver coins is directly tied to the price of silver, making them a stable investment choice. Koala silver coins have the added benefit of limited mintage and high collectibility, making them a potentially valuable addition to any investment portfolio.
Types of Koala Silver Coins
Australian silver coins have a variety of different editions and mints, which can make it hard to differentiate the value, rarity and characteristics of each individual coin. It is, therefore, all the more important to inform yourself on the different features and editions of these coins to ensure you pay the appropriate price for these coins. These coins have a face value of 1AUD for the one-ounce coins and increase depending on the weight of the coin.
Bullion Coins
Silver koala bullion coins have a matte, frosted finish and are produced in bulk in comparison to other mints. The 2023 silver koala bullion coin has around 300,000 mintages. The 99.99% silver coins contain a face value of 1 AUD(1 oz.). The dimensions of the bullion coin are around 40.9 mm in diameter and 3.5 mm in thickness. These bullion coins appeal to investors and collectors more interested in the value of the precious metal that the coin contains, rather than its rarity. As previously mentioned, rarity could be a factor with the 2023 coin.
In comparison to other silver coins, the Australian silver coin has a large variety of proof coins.
Proof / Gilded Coins
Proof Gilded coins describe coins with the characteristics of proof coins, that are also gilded, or covered, in another form of precious metal, usually 24-carat gold. These coins are created for special occasions like celebrating the anniversary of the koala coin series.
Similar to other proof coins, these proof coins are characterized by a matt, frosted foreground (the koala and the branch), and a shiny, mirror-like background. The gilding simply implies that these silver coins are covered in a thin layer of another precious metal like gold, to give the coin a unique, limited-edition look and increase its value of the coin. Proof gilded coins are produced in very low quantities, making them a very expensive and attractive collector's item.
Proof / High-relief coins
Proof high-relief coins have been struck with a design that has a significant amount of depth or projection from the surface. This technique gives the coin a three-dimensional appearance and enhances the level of detail in the design. High-relief coins require more pressure and multiple strikes during the minting process to achieve the desired depth, resulting in a more pronounced and visually striking design. These coins are often highly sought after by collectors due to their intricate craftsmanship and artistic appeal.
Proof /Gilded / High-relief
Similar to the proof / gilded coins, these coins also contain 99.99% of silver and are covered in a thin layer of other precious metals like rose gold. In addition to these key characteristics, they also contain a high relief feature, meaning that they also have the three dimensional appearance of the key elements.
High-relief / Antique
These coins contain limited-edition coins like the sleepy Australian koala; that have the three-dimensional effect to add detail to the collector coin.
Silver colored coins
The Perth Mint also offers silver coins, struck with 1 oz. of silver, featuring colorful designs that are usually created for exclusive events to showcase these coins as a symbol of Australia.
How to Buy Koala Silver Coins
Koala silver coins can be purchased from a variety of sources, including coin dealers, online retailers, and auction houses. When purchasing koala silver coins, it is important to buy from a reputable dealer to ensure the coins' authenticity and quality.
Proper care and storage are essential for maintaining the value of your koala silver coins. Store your coins in a cool, dry place, and handle them with care to prevent scratches and other damage. It is also important to avoid cleaning your coins, as this can cause damage and reduce their value.
Security Features for the Koala Silver Coins
The red circle on the top highlights the privy mark of the 2018 silver Koala coin. The red circle on the bottom represents the mintmark for the coin, having been produced by Perth Mint
Mintmark
Similar to other silver coin series, the Koala silver coin series includes a mintmark from the Perth Mint with a "P" on the reverse side of the coin. Depending on the year, the mintmark is placed on different areas of the reverse side, depending on where there is space that does not interfere with the new design. Make sure that the coins contain a "P" mintmark when buying Australian Koala silver bullion coins.
Privy Mark
Privy marks were originally created to identify the moneyer that made the coin or the artist that designed it. Privy marks are now used for marketing purposes and make coins more unique. These marks are only produced in certain years and always contain a different animal or object. Privy marks are not on every Koala silver coin. In 2018 for example, Perth Mint produced around 166 thousand Koala bullion coins, of which only 9,200 were given a privy mark; making up merely 18% of the total coins produced. These marks can however still help identify if the coin does have the correct privy mark. When buying silver koala coins that have a privy mark, make sure that the mark has the appropriate image for that year. These objects can vary from Chinese lettering (2013/4) all the way to a Kangaroo or Rooster (2017).
Koala Silver Coins vs Other Silver Coins
Koala silver coins are just one of many types of silver coins available to collectors and investors. Other popular silver coins include American Silver Eagles, Canadian Silver Maple Leafs, and Chinese Silver Pandas. Each coin has its own unique design and characteristics, and the value of each coin is influenced by different factors, such as mintage, rarity, and design.
Another difference between the Koala silver coins and other bullion coins is the coins' packaging. Unlike other bullion coins that are often packed and sealed in 500-pieces 'monster boxes', Koala silver coins are shipped in boxes of 100 pieces. The coins are plastic wrapped in five rolls of 20 pieces within each box. Each coin is also kept in its own plastic coin capsule.
Conclusion
Koala silver coins are a beautiful and valuable addition to any investment portfolio or coin collection. With their variety of designs, limited mintage, and potential for appreciation, koala silver coins are a popular choice for both collectors and investors alike. Proper care and storage are essential for maintaining the value of your coins, and it is important to buy from a reputable dealer to ensure the authenticity and quality of your purchase.
FAQs
1. What is the purity of koala silver coins?
Koala silver coins are made of .999 pure silver.
2. How often are koala silver coins minted?
Koala silver coins are minted annually by the Perth Mint in Western Australia.
3. Can I clean my koala silver coins?
It is not recommended to clean your koala silver coins, as this can cause damage and reduce their value.
4. What factors influence the value of koala silver coins?
The value of koala silver coins is influenced by factors such as the current price of silver, the mintage year, the rarity of the coin, and the condition of the coin.
5. Where can I buy koala silver coins?
Koala silver coins can be purchased from coin dealers, online retailers, and auction houses. It is important to buy from a reputable dealer to ensure the authenticity and quality of your purchase.