2012 8 Coin Gold Proof Year Set – Mini Money Circulating Designs

2012 8 Coin Gold Proof Year Set – Mini Money Circulating Designs

The images featured on Australia's first decimal coins are as familiar to Australians as they are intriguing and world renowned. This coin set features the one cent, two cent, five cent, ten cent, twenty cent, round fifty cent, one dollar and two dollar coins all the same size and in one collection. This collection is unique as these are some of the smallest coins we have ever made at the Royal Australian Mint. Struck in 99.99 percent gold, these designs created by Stuart Devlin beautifully highlight Australia as a unique and inimitable country.

This unique eight coin set is presented in a wooden case with each of the coins individually removable from case.

This set is a highly affordable way to acquire a full set of Australia’s circulating coin designs in gold, with its uniqueness being an important part of this collection.

Metal	Diameter	Mass	Finish	Mintage
99.99% Au	11.15	0.5g	Proof	2000

Bullion Miners Facing Tough Challenges

A new report from the world's largest gold producer Barrick Gold provides yet another illustration of the problems facing gold mining companies.

In South Africa, extraction of gold from depths of more than 6,000 meters has almost become the rule rather than the exception. Mining costs are being pushed up by the logistical challenges of drilling at great depths, as well as an increasingly militant work force which is demanding higher wages. Add exploration costs to this mix and it’s little wonder that companies’ profits are being squeezed, despite the high gold price. According to Barrick, total production costs for all mining companies exceeded the $8 billion mark last year.

While 1991 saw the discovery of 11 new gold mines, in 2011 only three mines with production potential were found. Aside from the drop in gold ore and rising production costs, a third factor is increasingly hindering gold production: producing countries' tedious licensing processes and sluggish bureaucracy. According to Barrick Gold, this is being exacerbated by increasing environmental regulations that could jeopardize many mining operations.

Many companies are also facing increasing hostility from residents in mining areas. This has been particularly evident in Peru, Bolivia or Ecuador – where there have been violent clashes between local people and police.

This is a  tricky set of factors for many companies. But given the gains in gold many expect in the coming years, great fortunes could still be made in the right gold mining investments.