100 Dollars - Charles III 1st Portrait - Dragon - Gold Proof

Perth Mint's dragon bullion series has run long enough to develop a genuine collector following, but the 2025 issue marks the first year Charles III's effigy appears on the series — Ian Rank-Broadley's portrait of Elizabeth II having anchored the obverse for the better part of three decades. The transition was not instantaneous; Australian coin production used a transitional Jody Clark portrait before settling on the definitive first portrait attribution now applied across the commemorative range.

One troy ounce of four-nines gold. The proof finish on this denomination is struck at significantly lower mintage than the bullion equivalent, though Perth rarely publishes hard mintage caps in advance.