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50 Dollars - Elizabeth II 3rd Portrait - Koala - Platinum
| Issuer | Perth Mint |
|---|---|
| Year | 1988-1989 |
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| Shape | Round |
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| Obverse description | Right-facing crowned effigy of Queen Elizabeth II after the third portrait by Raphael Maklouf, depicting the Queen wearing the George IV State Diadem, a drop earring, and a pearl necklace. The legend ELIZABETH II arcs across the upper left field and AUSTRALIA across the upper right, with the denomination 50 DOLLARS inscribed along the lower arc. The design is framed by a fine beaded border encircling the entire obverse field. |
|---|---|
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| Obverse lettering | ELIZABETH II AUSTRALIA 50 DOLLARS RDM |
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| Additional information |
Australia's platinum Koala series launched in 1987 as a direct challenge to the dominant Canadian Maple Leaf in the international bullion market. Perth Mint positioned the fractional and one-ounce denominations to attract European investors who were already comfortable with platinum as a monetary-adjacent asset — a calculation that proved largely correct, with strong early uptake in West Germany and Switzerland.
The third portrait of Elizabeth II, by Raphael Maklouf, was adopted across Australian coinage from 1985 following the standard Commonwealth rotation schedule coordinated through the Royal Mint in London.