10 Dollars - Elizabeth II 4th Portrait - Australian Kookaburra - Silver Bullion Coin

The Australian Kookaburra series began in 1990 as Perth Mint's answer to the dominant Maple Leaf and American Eagle bullion programs, with the deliberate marketing hook of an annually changing reverse design — a strategy borrowed from the Chinese Panda series and intended to drive collector demand alongside pure bullion buyers. The 10-dollar, 10-troy-ounce denomination sits at the practical ceiling of the series' standard annual releases, above which Perth produced limited kilo and multi-kilo formats.

Ian Rank-Broadley's fourth portrait of Elizabeth II, adopted by Australian coinage in 1999, appears here in its mid-series run before the fifth portrait transition of 2012.