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50 Dollars - Elizabeth II 3rd Portrait - Australian Nugget - Gold Bullion Coin
| Issuer | Perth Mint, Australia |
|---|---|
| Year | 1988 |
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| Composition | Gold (.9999) |
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| Obverse description | The third effigy of Her Majesty Queen Elizabeth II, designed by Raphael Maklouf, depicted in right-facing profile wearing the King George IV State Diadem, with earrings and a necklace visible. The legend reads ELIZABETH II AUSTRALIA 50 DOLLARS around the upper periphery, with the designer's initials RDM appearing below the truncation. A beaded border frames the entire design. |
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| Obverse lettering | ELIZABETH II AUSTRALIA 50 DOLLARS RDM |
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| Additional information |
The Australian Nugget series launched in 1986 as a direct challenge to the South African Krugerrand's dominance of the global gold bullion market — a market that had cracked open for competitors when anti-apartheid sanctions made Krugerrand imports illegal in the United States, United Kingdom, and Australia itself. The Perth Mint, dormant as a bullion producer for decades, was revived specifically for this purpose.
The 1988 issue depicts the Welcome Stranger nugget, the largest alluvial gold nugget ever found — unearthed in Victoria in 1869 at a depth of just three centimeters below the surface.