Fun Facts 12 Mar 2018
Serving as a hedge against a country’s currency inflation, gold has always been a fail-safe that the people and investors of the world rely on. However, as civilians/gold enthusiasts, we aren't always aware of all the nuances involving this precious metal, and what we really need is a trustworthy and reliable source for our gold.
It is for this reason that the Governments of the world produce and distribute gold coins and bullion with salient security features that boast of the highest level of purity and guarantee the quality being delivered, while simultaneously placating any concerns that buyers might have about the legitimacy of the transaction.
22 nations in the world produce and distribute gold bullion, including India and Australia. Apart from gold bullion, both India and Australia also share a penchant for cricket and yoga. Over the years, the two countries have enjoyed a prosperous relationship, to the point where India is now the largest buyer of Australian gold in the world.
India has some of the highest demand for gold on this planet, and with expectations of the finest purity of the precious metal. Hence, it is no surprise that one of India’s biggest suppliers of gold - Australia - produces some of the finest bullion on this planet. The Perth Mint in Australia, produces the Australian Gold Nugget - or sometimes referred to as the Gold Kangaroo. This is the Australian Government’s version of the gold coin and is maintained as a legal tender in the country. The Gold Nugget is made of 24k gold and is .9999 fine. This makes the Gold Nugget one of the purest gold coins in the world, only to be bettered by the Canadian Maple Leaf that boasts a fineness of .99999.
The Gold Nugget was introduced in 1986 and has a unique design, in that it has a two-tone effect on either side of the coin. This two-tone design was unusual for standard bullion, at the time, and helped the Australian Gold Nugget achieve a market niche in its early days. According to official Perth Mint shop, the Gold Nugget comes in a range of different sizes from the smallest being 1/20th of an ounce, and the largest being 1kg. All the coins feature Queen Elizabeth the 2nd on one side of the coin, with a Kangaroo hopping on the other side. In 2011, the Perth Mint achieved an incredible achievement in successfully casting the world’s largest gold bullion coin, which weighed in at a staggering 1000 kilograms and was 80 centimeters in diameter and 3 centimeters in thickness.
The spot market is a present delivery market where fiscal instruments, such as commodities and securities, are traded at 'spot prices' for immediate delivery. Delivery is the exchange of cash for the financial instrument.
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