Australia's lunar bullion series began in 1996, with Perth Mint cycling through the twelve-year zodiac calendar and then starting again — this snake issue belongs to the second full cycle. The second series introduced a modified reverse design approach and the $15 face value denomination, which replaced the earlier $10 pieces for the fractional gold format. Perth's bullion output during this period was tightly tied to Asian export markets, where lunar year coins commanded consistent premiums well above melt.
The dual KM references reflect a cataloging inconsistency between editions of the Krause Standard Catalog rather than any genuine die or issue variant.
Australia's lunar bullion series began in 1996, with Perth Mint cycling through the twelve-year zodiac calendar and then starting again — this snake issue belongs to the second full cycle. The second series introduced a modified reverse design approach and the $15 face value denomination, which replaced the earlier $10 pieces for the fractional gold format. Perth's bullion output during this period was tightly tied to Asian export markets, where lunar year coins commanded consistent premiums well above melt.
The dual KM references reflect a cataloging inconsistency between editions of the Krause Standard Catalog rather than any genuine die or issue variant.