It is said that there are certain names in every industry that have contributed immensely to the growth and prosperity of the industry as a whole. Think of Microsoft and computers, Facebook and social networks. Throughout their years of operation, they’ve been responsible for numerous innovations that have allowed the industry to take the next step while maintaining strict performance standards.
When talking about Gold Stackers silver bars, it is impossible to continue on the conversation without giving due credit to Perth Mint. After all, it is one of the oldest working mints in the country and continues to influence the precious metals industry in the country.
So, what’s the history behind Perth Mint and how did it grow to become the leading working mint inside Australia? Here’s a thorough run-down of Perth Mint’s history.
Early Beginnings
The 19th century saw a surge in the demand for gold. The whole phenomenon has since been labelled as the “Gold Rush”. It’s widely considered to be a leading factor that lead to the United States’ eventual ascend as a global economic power. However, at the same time, Australia was undergoing a sort of gold rush of its own. It was in the late 1800s that large deposits of gold were discovered in Western Australia.
This discovery coincided with the growth of the country’s population. This growth in the overall population meant that the area would need a Mint of its own to keep its flow of gold going on smoothly. Perth represented the perfect location.
Instant Success
As predicted, the whole venture turned out to be a phenomenal success. The Australia Perth Mint was inaugurated by Sir John Forrest. The Perth Mint was the third mint opened in Australia by the British Royal Mint. The mint was a busy establishment. People used to turn up there in order to get their raw gold refined into coins. From the Mint’s opening in 1899 up till 1931, the Australian Perth Mint saw a discovery of nearly 106 million gold and silver sovereigns as well as many more half-sovereigns.
The War
Britain had already abandoned the entire gold standard in 1931. This meant that sovereigns were no longer being produced. But this did not hinder the production of gold bars.
Then came the Second World War and the Perth Mint became responsible for supplying the country’s coinage, primarily made out of silver.
Due to the quality of the work of the Mint, there was widespread demand for its coinage across Australia. The Perth mint began producing all of Australia’s lower denomination coins up till 1980.
Continued Success
Ever since the Western Australian government gained complete control of the Mint in 1970, it has continued to pave new ventures for the Mint. The Perth Mint gained the permission in 1987 to mint and market tenders out of precious metals.
Since then, the Mint has managed to accomplish several more feats that include creating the world’s heaviest and most valuable gold coin. The Australian Kookaburra, Silver Koalas and Lunar Series are some of its exceptional silver coins.
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