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

The Australian Kookaburra series began in 1990 as the Perth Mint's answer to the dominant silver bullion programs of Canada and the United States. Each year's design is legally required to change — a deliberate strategy to drive collector demand alongside bullion demand, ensuring that no two annual issues are interchangeable. The 2012 ten-ounce piece falls within a run of particularly strong secondary-market premiums driven by Asian buying pressure that peaked roughly 2011–2013.

KM#1693 is the ten-ounce denomination within a release year that also included fractional and one-kilogram versions struck to the same .999 fineness.