An Australian gold coin
PA Perth The Western Australian Government has won approval from the Federal Government to issue gold bullion coins at the Perth Mint. Plans for the coin’s production are being advanced because of growing international market resistance to the South African Krugerrand, in the wake of the crisis in that country. These latest developments in the state Government’s plans to upgrade the Perth Mint were disclosed in Kalgoorlie by the Premier, Mr Burke, at the official opening of Pancontinental Mining’s $34 million
Paddington gold project, 35km north of Kalgoorlie. “Initially we will be seeking about 10 per cent of the world market in bullion coins,” Mr Burke said. “That would mean producing between 200,000 and 500,000 coins, which would require an additional 10 tonnes of gold a year,” he said.
It was also proposed that the Australian coins be legal tender with a value based on the prevailing market price for gold. The Paddington project is the fourth major gold mine to be opened in Western Australia this year.
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Press, 12 August 1985, Page 35
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172An Australian gold coin Press, 12 August 1985, Page 35
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