Key Takeaways
- For most Australian investors, the 1 oz Perth Mint Kangaroo is the default choice: 99.99% gold, A$100 face value, made locally and recognised by dealers worldwide.
- It was also cheap to buy: on 3 October 2026, one Australian dealer listed the 1 oz Kangaroo at 3.6% over spot.
- Imported 99.99% coins are solid alternatives: the Maple Leaf, Britannia, Philharmonic and Buffalo all meet the ATO’s 99.5% fineness test for GST-free precious metal.
- 22 carat coins are different in Australia: the Krugerrand and American Gold Eagle are 91.67% gold, below the GST line, so check whether GST is included.
- Size matters more than design: at the same dealer, a 1/10 oz Kangaroo cost 15.8% over spot, more than four times the premium of the 1 oz coin.
What are the best gold coins to buy in Australia? If you are investing rather than collecting, the answer is simpler than the shelves of a coin shop suggest. The best investment coins carry a low premium over the gold price, are easy to sell and come from a trusted government mint. Rarity and beautiful packaging matter much less.
In this guide, we compare the most popular bullion coins sold by Australian dealers, using real listings from our gold coin price comparison, mint specifications and the ATO’s GST rules. You will find a specification table, real premiums, the pros and cons of each coin and a short FAQ at the end.
What Makes a Gold Coin a Good Investment?
An investment gold coin, also called a bullion coin, is valued mainly for the gold it contains, not for its rarity. Before you look at designs, check these five things:
- Premium over spot: how much you pay above the value of the gold. Lower is better.
- Recognition: how quickly any dealer will buy it back at a fair price.
- Issuer: a sovereign mint guarantees weight and purity.
- Purity and GST: in Australia, gold of at least 99.5% fineness in investment form is GST-free “precious metal”.
- Size: 1 oz coins usually have the lowest premium per ounce; fractional coins cost more per gram.
Does higher purity mean more gold? No, a 1 oz coin always contains one troy ounce of fine gold. A 22 carat coin is simply heavier because copper or silver is added. Purity matters in Australia mainly because of GST.
The Best Gold Coins for Australian Investors
These are the coins you will find most often at Australian bullion dealers. All of them contain one troy ounce of gold in the 1 oz size.
| Coin (1 oz) | Mint | Fineness | Face value | Diameter | First issued |
|---|---|---|---|---|---|
| Australian Kangaroo | The Perth Mint | 99.99% | A$100 | 32.60 mm | 1986 (as the Nugget) |
| Australian Lunar Series III | The Perth Mint | 99.99% | A$100 | 32.60 mm | New animal each year |
| Canadian Gold Maple Leaf | Royal Canadian Mint | 99.99% | C$50 | 30.00 mm | 1979 |
| British Gold Britannia | The Royal Mint | 99.99% (since 2013) | £100 | 32.69 mm | 1987 |
| Vienna Philharmonic | Austrian Mint | 99.99% | €100 | 37.00 mm | 1989 |
| American Gold Buffalo | United States Mint | 99.99% | US$50 | 32.70 mm | 2006 |
| South African Krugerrand | Rand Refinery / SA Mint | 91.67% (22 ct) | None stated | 32.77 mm | 1967 |
| American Gold Eagle | United States Mint | 91.67% (22 ct) | US$50 | 32.70 mm | 1986 |
| Chinese Gold Panda | China Gold Coin Inc. | 99.9% | 500 yuan (30 g) | 32.00 mm | 1982 |
1. Australian Kangaroo (The Perth Mint)
The Kangaroo is Australia’s flagship gold bullion coin. It started in 1986 as the Australian Nugget, with a gold nugget on the reverse, and has shown a kangaroo since 1989. According to The Perth Mint, the 2026 1 oz coin contains one troy ounce of 99.99% gold, has an A$100 face value, a minimum gross weight of 31.107 g and an unlimited mintage. It also carries a micro-laser engraved security mark visible under magnification.
The Perth Mint links the coin’s popularity to quality control. Its General Manager Minted Products said in 2021:
“While steps are constantly being made to improve manufacturing efficiency, our focus on quality remains paramount, because this is one of the key criteria behind the popularity of the official Australian Bullion Coin Program.”
Neil Vance, General Manager Minted Products, The Perth Mint, media release “Huge demand confirms worldwide appetite for Perth Mint investor coins”, July 2021
- Why buy it: made in Australia, legal tender here, widely stocked and, in our data, the cheapest 1 oz coin.
- Watch out for: special editions with privy marks or colour, which cost more than standard bullion.
Compare Kangaroo gold coin prices and learn how to spot a fake Gold Kangaroo.
2. Australian Lunar Series III (The Perth Mint)
The Lunar series features a different animal from the Chinese zodiac every year. Its specification matches the Kangaroo: 99.99% gold, A$100 face value. The difference is mintage. The 2026 Year of the Horse 1 oz gold coin has a maximum mintage of 30,000, according to The Perth Mint.
- Why buy it: popular with buyers in Australia and Asia, and the limited mintage appeals to collectors as well as investors.
- Watch out for: higher premiums than the Kangaroo, especially in the release year, and prices that can vary by animal.
See Lunar Series III gold coin prices.
3. Canadian Gold Maple Leaf (Royal Canadian Mint)
Launched in 1979, the Maple Leaf has been struck in 99.99% gold since 1982 (early coins were 99.9%). Modern Maple Leafs carry radial lines on the background and a micro-engraved security mark with the year of issue, visible only under magnification.
- Why buy it: one of the most recognised gold coins in the world, with strong anti-counterfeiting features.
- Watch out for: soft 99.99% gold scratches easily, so keep it in its capsule.
Compare Maple Leaf gold coin prices.
4. British Gold Britannia (The Royal Mint)
The Britannia has been 99.99% fine since 2013 (earlier coins were 22 carat). Recent issues include several security features, such as a latent image and micro-text. In the UK it has tax advantages as legal tender, but those UK rules do not apply to Australian residents.
- Why buy it: high purity, strong security features and wide recognition.
- Watch out for: older 22 carat Britannias fall below the ATO’s 99.5% line.
Compare Britannia gold coin prices.
5. Vienna Philharmonic (Austrian Mint)
The Philharmonic has been minted since 1989 in 99.99% gold. It is especially popular in Europe and is easy to sell to dealers worldwide. At 37 mm, the 1 oz coin is larger and thinner than most.
6. American Gold Buffalo (United States Mint)
The Buffalo, first struck in 2006, was the first 99.99% gold coin from the United States Mint. In Australia it is less common and often costs more than local coins because it has to be imported.
7. South African Krugerrand
The Krugerrand, launched in 1967, is generally regarded as the first modern gold bullion coin. It weighs 33.93 g and is 91.67% gold (22 carat), with copper added for hardness. It still contains exactly one troy ounce of gold.
- Why buy it: known everywhere, durable and often cheap overseas.
- Watch out for: at 91.67%, it is below the ATO’s 99.5% fineness test, so it is not GST-free precious metal. Older dated coins may also be sold at collector prices.
See Krugerrand prices and how to spot a fake Krugerrand.
8. American Gold Eagle
The Gold Eagle, issued since 1986, is also 22 carat (91.67% gold, with silver and copper). It is very liquid in the United States, but in Australia it faces the same GST question as the Krugerrand and is usually imported at a higher premium.
9. Chinese Gold Panda
The Panda has been issued since 1982 and features a new panda design every year. Since 2016 it has been struck in metric sizes, so the “1 oz” size is now 30 g of 99.9% gold, slightly less than a troy ounce (31.10 g). Compare prices per gram, not per coin. See Panda gold coin prices.
Read also: Troy Ounce: Definition, History and Conversion Table
What Do Gold Coins Cost Over Spot in Australia?
The premium is the difference between the dealer’s price and the value of the gold inside:
Premium % = (dealer price − spot value of the gold) / spot value × 100
Our Australian data is still small, so we show what we have rather than averages. These are listed prices from two Australian dealers on 3 October 2026, compared with the gold spot close of A$5,966.56 per ounce on 2 October 2026.
| Coin | Dealer | Listed price | Spot value of gold | Premium |
|---|---|---|---|---|
| Kangaroo 1 oz | Australian Bullion Company | A$6,183.00 | A$5,966.56 | 3.6% |
| Kangaroo 1/2 oz | Australian Bullion Company | A$3,231.00 | A$2,983.28 | 8.3% |
| Kangaroo 1/4 oz | Australian Bullion Company | A$1,667.00 | A$1,491.64 | 11.8% |
| Britannia 1/4 oz | Australian Bullion Company | A$1,667.00 | A$1,491.64 | 11.8% |
| Kangaroo 1/10 oz | Australian Bullion Company | A$690.80 | A$596.66 | 15.8% |
| Britannia 1/10 oz | Australian Bullion Company | A$690.80 | A$596.66 | 15.8% |
| Lunar (Dragon 2024) 2 oz | KJC Bullion | A$12,969.74 | A$11,933.12 | 8.7% |
| Krugerrand 1 oz (1990, dated) | KJC Bullion | A$7,826.75 | A$5,966.56 | 31.2% |
Three lessons stand out:
- The 1 oz coin is the value size. The 1/10 oz Kangaroo cost more than four times the premium of the 1 oz coin.
- Brand matters less than size. The 1/4 oz and 1/10 oz Britannia and Kangaroo were priced identically.
- Dated or special coins cost more. A 1990 Krugerrand was listed at 31.2% over spot, a price driven by the year, not the gold.
What does that mean in dollars? A$10,000 spent on 1 oz Kangaroos at 3.6% buys about A$9,650 of gold. The same money in 1/10 oz coins at 15.8% buys about A$8,640 of gold.
See current prices at Australian Bullion Company, KJC Bullion and other dealers on our investment gold page.
GST and Tax on Gold Coins in Australia
GST: the 99.5% rule
The ATO’s ruling GSTR 2003/10 defines precious metal as gold of at least 99.5% fineness in an investment form. A dealer’s sale of precious metal to you is input taxed, so no GST is added. For coins, that means:
| Coin | Fineness | Meets the 99.5% test? |
|---|---|---|
| Kangaroo, Lunar, Maple Leaf, Britannia (2013+), Philharmonic, Buffalo | 99.99% | Yes |
| Chinese Panda | 99.9% | Yes |
| Krugerrand, Gold Eagle, Britannia (before 2013) | 91.67% | No, ask the dealer whether GST applies |
Read the ATO’s ruling on GST and precious metals (GSTR 2003/10).
Capital gains tax
Gains on bullion coins are generally subject to capital gains tax when you sell. Individuals who hold for at least 12 months can currently claim the 50% CGT discount. The government announced in the 2026-27 Budget that it intends to replace this discount from 1 July 2027, so check the rules in force when you sell. The ATO treats coins kept mainly for personal use or enjoyment as collectables, which follow different rules. Keep every invoice.
Read also: Gold vs Silver Investments: Which Is Better for Australians?
Bullion Coins vs Collector Coins
Many coins sold in Australia look like bullion but are priced as collectibles. How do you tell them apart?
- Bullion coins: standard finish, large or unlimited mintage, priced close to the gold value.
- Proof and special editions: mirror finish, coloured or gilded designs, presentation boxes and small mintages. Premiums can be many times higher.
- Dated or graded coins: priced on rarity and condition, not just gold content.
If your goal is gold exposure at the lowest cost, stick to standard bullion versions. Collector coins can be a rewarding hobby, but their resale price depends on demand from collectors, not just the gold price.
Where to Buy Gold Coins in Australia
Buy from established bullion dealers or directly from The Perth Mint. A few practical tips:
- compare the premium and postage at two or three dealers before you buy,
- check that the listing is the standard bullion version, not a proof or special edition,
- keep coins in their original capsules and keep the invoice,
- expect to show ID for larger purchases, as bullion dealers have reporting obligations to AUSTRAC.
Be careful with overseas websites and marketplaces. Imported coins may face postage, insurance and import costs, and fakes are more common on marketplaces. Our guide on how to spot fake gold and silver coins explains the main checks.
Read also: What Is the Proper Way to Store Gold? Top Tips for Safe Keeping
Which Gold Coin Should You Choose?
Choose the Kangaroo if:
- you want the simplest, usually cheapest 1 oz coin in Australia,
- you value a locally made, legal tender coin.
Choose the Lunar series if:
- you like the zodiac designs and accept a slightly higher premium,
- you may sell to buyers who value limited mintages.
Choose an imported 99.99% coin if:
- you want variety across mints, for example a Maple Leaf, Britannia or Philharmonic,
- you find one at a premium close to the Kangaroo.
Think twice about:
- 1/10 oz coins as your main way to buy gold, because of the high premium,
- 22 carat coins, until you know how GST is applied,
- dated, proof or “rare” coins sold as an investment.
Summary: Best Gold Coins to Buy in Australia
| Goal | Best fit | Why |
|---|---|---|
| Lowest cost per ounce | 1 oz Kangaroo | 3.6% over spot in our snapshot |
| Collector appeal plus gold | Lunar Series III | Maximum mintage 30,000 for the 2026 1 oz coin |
| Global recognition | Maple Leaf, Britannia, Philharmonic | 99.99% gold from major government mints |
| Small budget | 1/4 oz coins | 11.8% premium, lower than 1/10 oz |
| GST-free | Any 99.5%+ coin | ATO precious metal test |
FAQ: Best Gold Coins to Buy
What is the best gold coin to buy in Australia?
For most investors, the 1 oz Perth Mint Kangaroo is the best starting point. It is 99.99% gold, GST-free as precious metal and was the cheapest 1 oz coin in our Australian data.
What size gold coin is best for investment?
The 1 oz size usually offers the lowest premium per ounce. In our snapshot, a 1 oz Kangaroo cost 3.6% over spot, while a 1/10 oz Kangaroo cost 15.8%.
Is there GST on gold coins in Australia?
No GST is added to coins of at least 99.5% gold in investment form, such as the Kangaroo or Maple Leaf. 22 carat coins like the Krugerrand do not meet that test, so ask the dealer whether GST applies.
Are Lunar gold coins a good investment?
They contain the same 99.99% gold as a Kangaroo, but usually cost more because of limited mintages. They suit buyers who value the designs as well as the gold.
Which gold coins hold their value best?
No coin is protected from a falling gold price. Widely recognised bullion coins, such as the Kangaroo, Maple Leaf and Britannia, are the easiest to sell close to the gold value.
Is it better to buy gold coins or gold bars?
At 1 oz, coins and bars cost about the same over spot, and coins are easier to sell in parts. Larger bars usually win on price per gram.
Can I buy gold coins directly from The Perth Mint?
Yes, The Perth Mint sells bullion coins online and in Perth. Compare its price and postage with other dealers before you buy.
Compare Gold Coin Prices Before You Buy
The best coin is not much use if you overpay for it. metalsradar compares prices from Australian bullion dealers and shows the premium over spot for every offer, so you can see which coin is cheapest today.
Check live prices for Kangaroo, Maple Leaf and Britannia gold coins, compare them with gold bars, follow the gold price chart or browse our list of Australian dealers.
This article is for informational purposes only and is not investment or tax advice.
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