2 Dollars - Elizabeth II 4th Portrait - Dove - Silver Bullion - High Relief

The Perth Mint's high-relief bullion program expanded aggressively in the mid-2010s as competition with the Royal Canadian Mint and U.S. Mint for the premium collector-bullion market intensified. High-relief strikes require multiple die passes at reduced production speeds, which kept mintages for this type well below standard bullion runs. The .9999 fineness — four nines — was itself a marketing differentiator; most sovereign mints were still producing bullion at .999 at the time Australia committed to the higher purity across much of its silver program.

Ian Rank-Broadley's fourth portrait of Elizabeth II, used here, was already being phased toward retirement by 2018, adding a quiet transitional note to the issue.