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About the 5 oz Super Pit Gold Coin
Mining Heritage in a Large Gold Coin
The 5 oz Super Pit gold coin brings the Perth Mint's mining-themed Super Pit series into a large-format gold denomination. First produced as a 5 oz gold variant in 2023, the coin celebrates the Fimiston Open Pit (commonly known as the "Super Pit") in Kalgoorlie, Western Australia, one of Australia's largest open-pit gold mines at 3.5 km long, 1.5 km wide, and over 600 metres deep.
The Super Pit series launched in 2019 with 1 oz gold and 1 oz silver coins, each year featuring a new artistic perspective of the mining operation. The 5 oz gold version extends this concept into a format that few annual bullion series offer. At .9999 fine gold and carrying Australian legal tender status under the Currency Act 1965, the coin has the same foundational quality standards as the Perth Mint's flagship Kangaroo programme.
The thematic concept is distinctive among world bullion. Most coin series depict fauna, flora, or national symbols. A working industrial gold mine as the subject is unusual, and the Super Pit has particular resonance: the site's history dates back to Paddy Hannan's gold discovery on 14 June 1893, and the mine still produces roughly 700,000 ounces of gold per year under Northern Star Resources. The 2024 coins carry a special "P125" mintmark celebrating the Perth Mint's 125th anniversary.
5 oz Super Pit Gold Coin Specifications
| Attribute | Value |
|---|---|
| Weight | 5 troy oz (155.517 g) |
| Purity | .9999 fine gold (24 karat) |
| Denomination | AUD (varies by year) |
| Manufacturer | Perth Mint |
| Legal tender | Australia (Currency Act 1965) |
| Mintage | Limited (varies by year) |
| Security | Micro-laser engraved authentication letter |
Each coin carries the Perth Mint's micro-laser engraved security letter on the reverse, the same authentication technology used across the Kangaroo and other Perth Mint bullion ranges. The reverse design changes annually, with each year offering a different perspective of the mine's operations, from rim views to excavators and roadways carved into the pit's stepped slopes.
Super Pit Gold Coin Tax Treatment
Australia
As a .9999 gold coin, the Super Pit is GST-free under Australia's investment-grade precious metals rules (99.5%+ purity threshold). Capital gains tax applies on disposal, with individuals holding for longer than 12 months eligible for a 50% CGT discount. The coin is available directly from the Perth Mint for domestic buyers.
United States
The .9999 purity meets the IRS threshold for precious metals IRA eligibility. Sales tax treatment is state-dependent, with approximately 35 states fully exempting bullion. Capital gains on gold held over one year are taxed at the collectibles rate of up to 28%.
United Kingdom
VAT-exempt as investment gold. Not CGT-exempt, as Australian legal tender does not qualify for the UK CGT exemption that applies to the Britannia and Sovereign. Silver Super Pit coins sold in the UK are typically offered under the margin scheme for pre-owned silver.
Canada
Exempt from GST/HST as gold refined to 99.5%+ purity. Not RRSP or TFSA eligible. Capital gains taxed at a 50% inclusion rate.
Singapore
Qualifies as an Investment Precious Metal (IPM) under Singapore's GST-exemption scheme. No capital gains tax applies in Singapore.
5 oz Super Pit vs Other Perth Mint and Large Gold Coins
The most natural comparison is with the 5 oz Kangaroo from the same Perth Mint. Both are .9999 fine, carry Australian legal tender status, and feature the same micro-laser authentication technology. The Kangaroo has broader international recognition, higher production volumes, and stronger secondary market liquidity. The Super Pit appeals to buyers drawn to the mining heritage theme and who may value the tighter mintage (the standard 1 oz Super Pit gold has a mintage of 5,000 to 15,000 per year, and the 5 oz is more limited still).
Against the 5 oz gold Panda, the Super Pit offers higher purity (.9999 vs .999), consistent troy ounce weight (no metric conversion issue), and stronger anti-counterfeiting features. The Panda has a much larger collector following built over decades of annual design changes, giving it a more developed premium market for specific years.
The 5 oz Commander gold from Scottsdale Mint is a private mint product distributed exclusively through SD Bullion. The Super Pit, as a government-backed sovereign mint coin with LBMA-accredited provenance, carries stronger institutional credibility and wider dealer acceptance for resale.