Precious Metals

Perth Mint’s swan silver bullion takes flight fast

The Perth Mint’s newest limited mintage silver bullion coin, a 2017 Swan 1-ounce coin, sold out its 25,000-coin mintage in less than 48 hours.

Images courtesy of Perth Mint.

Swans can fly as fast as 50 miles per hour, but a silver Swan can fly off the shelves at an equally impressive rate.

The Perth Mint’s new Swan 1-ounce silver bullion coin went on sale April 2, and all 25,000 coins sold out within less than 48 hours. The Perth Mint announced the coin’s availability on social media, sending out a tweet at the same time the media was informed of the release.

The $1 coin features a swan on the reverse, the first time the Perth Mint (whose logo also is a stylized swan) has featured this design showcasing one of the world’s most distinct and unique species.

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The Perth Mint’s operations are situated in the heart of Perth, the capital and largest city of Western Australia. The city is located on the shores of the Swan River, where one of the first colonies in the territory, originally called Swan River Colony, was founded in 1829. The swan became the symbol of Western Australia.

The obverse features the Ian Rank-Broadley likeness of Queen Elizabeth II, the monetary denomination and the 2017 year-date.

The reverse design features a beautiful swan swimming on a watery surface. The water in the design fills the bottom third of the design area, extending to the rim, appearing to run behind and beyond the smooth circular border that contains the inscription THE 1OZ 9999 AUSTRALIAN SILVER SWAN. The Perth Mint’s P Mint mark is in the field above and behind the swan.

The .9999 fine silver coin design shows the graceful bird in its classic profile, displaying the swan’s long neck, which enables it to forage for food on the river bed, and its broad wings, which can span up to two meters, tucked together on its back.

The coin is the first in what’s expected to be an annual series of 1-ounce limited mintage Swan silver bullion coins with designs varying each year, much like the heralded Koala and Kookaburra coin series from the Perth Mint.

The coins measure 40.6 millimeters in diameter, the same size as the Kookaburra and Koala 1-ounce silver coins. 

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The Swan coins are packaged individually in a plastic capsule and were sold in rolls of 20 coins, with five rolls sealed in a 100-ounce box.

Since the sellout, the coins are trading online at prices from $55 to $60 each, about three times their precious metal value. 

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