Printer Friendly

WORLD'S LARGEST PLATINUM BULLION COIN (ONE KILOGRAM) INTRODUCED BY AUSTRALIANS

 WORLD'S LARGEST PLATINUM BULLION COIN (ONE KILOGRAM)
 INTRODUCED BY AUSTRALIANS
 NEW YORK, Oct. 5 /PRNewswire/ -- Australia officially launched today in London the world's largest platinum coin containing a massive one kilogram of platinum (32.151 ounces). A ten ounce and two ounce platinum coin from the same series were also introduced, all featuring as their design a Koala, a well-known symbol of Australia.
 These platinum Koala coins mark the third issue of GoldCorp Australia's Large Bullion Investment Coin Series which began in 1991 with the introduction of the Australian Kangaroo Nugget coins. This was then followed in early 1992 with the launch of the silver Kookaburra series.
 Don Mackay-Coghill, managing director of GoldCorp Australia, the operator of Australia's Perth Mint which issues the coins by arrangement with the Australian government, predicted that the relative value and security of the new coin would be very attractive for precious metal investors.
 Mr. Mackay-Coghill explained, "Previously, bullion coins have been an ideal means of investment for small platinum investors, but the premiums on coins to cover minting and marketing costs have made them less attractive to larger platinum investors. However, the new large bullion coins will be sold at the lowest premiums of any platinum bullion coin. It is expected that the kilo coin will retail with a premium as low as 2 percent.
 "In fact, these premiums will make Australia's large bullion coins the first platinum bullion coins to be truly competitive in price with bullion bars. But unlike bars, they offer the large scale investor the investment security normally associated with only with the higher priced bullion coins. This comprises what amounts to a government guarantee of the weight and purity of the metal the coins contain."
 In addition to the platinum Large Bullion Coin series introduced today, Australia already produces Australia Koala platinum bullion coins in five sizes containing from one ounce of platinum to 1/20th of an ounce. These coins have been the world's leading platinum bullion coins since their release in September 1988.
 All the coins are legal tender, but are traded for the value of the precious metal they contain, rather than for their nominal face values.
 Distributors for the Large Bullion Coin series are: A-Mark Precious Metals, Inc., Los Angeles; Falconwood Corporation, New York; MTB Banking Corporation, New York; PandaAmerica, Torrance, Calif.; Republic National Bank, New York, and Rhode Island Hospital Trust, Providence.
 Australia introduced its gold Large Bullion Investment Coin Series in 1991 and surpassed Canada's Maple Leaf gold bullion coin as the market leader. It also propelled Australia's share of the gold bullion coin market from 15 percent to 35 percent that year.
 And in April 1992, Australia launched the silver Large Investment Coin Series which sold at a rate of more than one ton a day for several weeks.
 For more information, contact GoldCorp Australia, 1119 Colorado Avenue, Suite No. 104, Santa Monica, Calif. 90401, 213-394-5339.
 -0- 10/5/92
 /CONTACT: Donna Tasso or Lisa Lindberg of GoldCorp, 212-685-1222/ CO: GoldCorp Australia ST: IN: MNG SU: PDT


LD-PS -- NY001 -- 6361 10/05/92 07:31 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 5, 1992
Words:514
Previous Article:COMPAQ SHAKES UP PC SERVER MARKET, INTRODUCES AGGRESSIVELY-PRICED MAINSTREAM PC SERVER AND WORLD'S FASTEST PC SERVER
Next Article:STUDY REVEALS WHY CITIES FAIL TO ATTRACT NEW JOBS PLUS ASSETS ESSENTIAL TO KEEP THEM
Topics:


Related Articles
AUSTRALIA ATTAINS NUMBER ONE POSITION IN GOLD BULLION MARKET
First-Ever Platinum Coins Introduced by The United States Mint
Metalor to Mint Patriotic 1 and 10 oz. Gold Investment Bars.
Royal Canadian Mint Unveils 25th Anniversary Gold Maple Leaf Design at A.N.A. World's Fair of Money.
Royal Canadian Mint introduces three new products.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters