1 oz Perth Mint Kangaroo Platinum Coin

The 1oz Platinum Kangaroo from the Perth Mint

The 1oz Platinum Kangaroo contains one troy ounce of .9995 fine platinum and is struck by the Perth Mint, a government-owned entity of Western Australia established in 1899 and accredited by the LBMA. It is the platinum entry in the long-running Kangaroo bullion series and carries an AUD $100 face value as Australian legal tender. The platinum version launched in 2018, making it one of the newer additions to a series that began in gold back in 1986.

Its standout trait comes from the series itself: the Kangaroo is one of very few government bullion coin programmes that changes its reverse design annually, a feature it shares with the Chinese Panda. Each year's issue is visually distinct, which gives the coin mild collectible appeal on top of its metal value. The reverse typically shows a bounding or resting red kangaroo with stylised rays of sunlight and landscape elements, alongside the weight, purity, year-date, and the Perth Mint's 'P' mintmark. The platinum coin also features a wave-textured background.

Authentication is supported by a micro-laser engraved letter on the reverse, detectable only under magnification. The Perth Mint introduced this feature with the 2016 silver bullion release and applies it to all gold, silver, and platinum bullion Kangaroo coins. There is no coin-level digital authentication system comparable to the Royal Canadian Mint's Bullion DNA, so verification otherwise relies on the micro-engraving, the 'P' mintmark, and physical checks of weight and dimensions. Platinum helps here: at 21.45 g/cm3 it is substantially denser than common substitute metals, so a simple weight check on a coin of known diameter is a strong test, and counterfeit platinum coins are rare.

Buyers should understand the platinum coin market before committing. It is much smaller than gold or silver: fewer mints produce platinum coins, mintages are lower, and dealer inventory is more limited. Premiums on 1oz platinum coins typically run 8-15% over spot, well above gold coin premiums, and buy-sell spreads are wider. The Kangaroo's strongest market presence is in the Asia-Pacific region, particularly Singapore, Hong Kong, and Japan, where the Perth Mint's geographic proximity has made the series a popular choice.

1oz Platinum Kangaroo Specifications

The Platinum Kangaroo is currently produced in the 1oz size only, unlike the gold series which spans eight denominations from 1/20 oz to 1 kg. Its dimensions match the 1oz gold coin in the same series.

The .9995 purity is the standard for platinum bullion coins; all four major platinum coins share it. Note the difference from the Perth Mint's gold and silver Kangaroos, which are struck to .9999 fineness. Each coin carries the micro-laser engraved security letter on the reverse and the 'P' mintmark. Platinum is harder than gold (Mohs 3.5 versus 2.5), so the coin is more resistant to scratches and handling damage, and it does not tarnish or corrode, so no special atmospheric precautions are needed in storage. Standard coin capsules are suitable, though fewer platinum-specific tube sizes exist than for gold and silver, so verify compatibility before buying tubes.

Platinum Kangaroo Tax Treatment by Country

Platinum does not enjoy the broad investment-gold exemptions found in the UK and EU, so where you buy matters more than it does for gold. The Kangaroo's .9995 purity clears every relevant purity threshold worldwide.

• Australia: Investment-grade platinum at or above 99% purity is GST-free, so the Kangaroo qualifies in its home market. Capital gains tax applies on disposal, with a 50% CGT discount for individuals holding longer than 12 months.
• UK: 20% VAT on new platinum bullion. The Kangaroo is also liable to capital gains tax, since only UK legal tender coins such as the Platinum Britannia are CGT-exempt. Pre-owned platinum sold under the margin scheme carries VAT on the dealer's margin only.
• USA: IRA-eligible, meeting the IRS 99.95% purity requirement for platinum, provided it is held by an approved custodian. Long-term gains are taxed at the collectibles rate of up to 28%. Sales tax depends on the buyer's state; most states exempt bullion.
• Canada: GST/HST exempt, as platinum refined to at least 99.5% purity in coin form qualifies for the federal exemption. Capital gains on disposal are taxed at the 50% inclusion rate.
• EU: Full local VAT applies, ranging from 17% to 27% depending on the country. There is no investment-platinum equivalent of the investment gold exemption.
• Singapore: GST-exempt under the Investment Precious Metals scheme, which covers platinum at 99% purity or higher. Singapore has no capital gains tax.
• Hong Kong: No sales tax, no import duty, and no capital gains tax.
• New Zealand: GST-exempt, as platinum at 99% purity or higher qualifies as fine bullion. No formal capital gains tax.
• South Africa: 15% VAT. The zero-rating that applies to gold Krugerrands does not extend to platinum.

From Gold Nugget to Platinum Kangaroo

The Kangaroo series launched in 1986 as the Australian Gold Nugget, with reverse designs featuring famous Australian gold nuggets such as the Welcome Stranger and the Hand of Faith. The original coins had two unusual features for bullion: a two-tone frosted design effect and individual hard plastic encapsulation. From 1989 the reverse switched to kangaroo motifs, a more internationally recognisable Australian symbol that improved global marketability, and the series gradually became known as the Australian Kangaroo. The annual design change established then continues today.

The series expanded over the decades: 2 oz, 10 oz, and 1 kg gold sizes arrived in 1991, a one-tonne gold coin was struck in 2011 as the largest gold coin in the world, and the first silver bullion Kangaroo followed in 2016 with a record-setting debut of more than 11.2 million coins. The platinum Kangaroo arrived in 2018, in the 1oz size only. It was not the Perth Mint's first platinum bullion coin: the mint had struck the Platinum Koala from 1988 to 2000, the first national 1oz platinum bullion coin series in the world, before ending it on weak demand. The Kangaroo brought the mint back into platinum after an 18-year absence.

The obverse has tracked the changing royal portraits. The platinum coin launched in 2018 under the Ian Rank-Broadley portrait of Queen Elizabeth II, which the series used from 1999 to 2018. The Jody Clark portrait followed from 2019 to 2023, and since 2024 the obverse carries the Dan Thorne effigy of King Charles III. In 2016 the Perth Mint also introduced its micro-laser engraved security letter, applied across the bullion Kangaroo range including platinum. The year 2026 marks the series' 40th anniversary, commemorated on the gold coins with a special nugget privy mark honouring the programme's Gold Nugget origins.

Platinum Kangaroo vs Eagle, Maple Leaf, and Britannia

Four sovereign platinum coins dominate the market, all struck to the same .9995 purity, so the choice comes down to design, security features, tax position, and where you plan to sell.

Against the American Platinum Eagle: the Eagle is the senior coin, issued by the US Mint since 1997 with a $100 face value and fractional sizes (1/2 oz, 1/4 oz, 1/10 oz) that the Kangaroo lacks. It has the strongest resale demand in the US market. The Kangaroo counters with the series' annual reverse design change and stronger recognition in Asia-Pacific markets. Both are IRA-eligible.

Against the Canadian Platinum Maple Leaf: the Maple Leaf dates to 1988 and carries a $50 CAD face value. Its key advantage is the Royal Canadian Mint's Bullion DNA digital authentication, which the Perth Mint cannot match; the Kangaroo relies on its micro-laser engraved letter and physical verification instead. The Maple Leaf's production has been intermittent, however, so secondary market coins may be the main option, while the Kangaroo is in current annual production with a fresh design each year.

Against the Platinum Britannia: both launched in 2018, making them the two newest entrants. The Royal Mint offers the Britannia in 1 oz and 1/10 oz sizes and it is the most recognised platinum coin in the UK. For UK taxpayers the Britannia is the decisive pick: as UK legal tender it is CGT-exempt on sale, while the Kangaroo is liable to both 20% VAT and CGT in the UK. Outside the UK that advantage disappears and the comparison reverts to design preference and local availability.

All four coins come from LBMA-accredited mints and have the best resale prospects in the platinum space. Liquidity still trails gold: the buyer pool is smaller, spreads are wider, and a round-trip through a dealer can cost 5-10% of the purchase price, so plan on holding rather than trading. Buyers wanting Perth Mint platinum with history behind it can also look to the secondary market for the discontinued Platinum Koala, struck from 1988 to 2000.