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100 Dollars - Elizabeth II 3rd Portrait - Koala - Platinum
| Issuer | Perth Mint |
|---|---|
| Year | 1989-1990 |
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| Reference(s) | KM#126 |
| Obverse description | The third-portrait effigy of Queen Elizabeth II, engraved by Raphael Maklouf, is depicted in right-facing profile occupying the central field. The Queen wears the George IV State Diadem and is adorned with a drop earring and chain necklace, rendered in high relief with fine detail. The legend ELIZABETH II arcs along the upper left periphery and AUSTRALIA along the upper right, separated by a small dot. The denomination 100 DOLLARS appears in two lines along the lower arc. A continuous border of raised beads encircles the entire design, and the engraver's initials RDM appear incuse on the truncation. |
|---|---|
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| Reverse script | Latin |
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| Additional information |
Australia's platinum koala series launched in 1988, making these 1989–1990 issues second-year strikes in what was then a fiercely competitive market for platinum bullion coins. The Soviet Union's Palladium Ballerina and Canada's Maple Leaf were the dominant players; Perth was deliberately targeting collectors who wanted an alternative to the Maple Leaf's comparatively plain bullion aesthetic. The koala design changed annually — a calculated move to drive collector demand beyond pure spot value.
KM#126 corresponds to the one-troy-ounce denomination, the flagship of a four-coin annual set that also included fractional sizes down to 1/20 oz.