Ever tried to get your hands on a 2017 Perth Mint Swan? Good luck. If you're a precious metals collector or just someone who likes shiny things that actually hold value, you've probably heard people whispering about the Golden Swan series. It’s not just a coin. It’s a phenomenon that basically changed how the Perth Mint handles limited editions.
Most people think bullion is boring. They imagine dusty stacks of gold bars in a vault. This series flipped that script. When the first 1-ounce Gold Swan launched in 2017, it sold out faster than concert tickets for a stadium tour. We’re talking a mintage of only 5,000 pieces. That is nothing in the global gold market. It’s basically a rounding error, which is exactly why the secondary market prices for these things went absolutely vertical almost immediately.
Why the Perth Mint Swan is different from your average gold coin
Let's be real for a second. Most gold bullion coins are "stackers." You buy a Gold Eagle or a Canadian Maple Leaf because you want the metal. The design stays the same year after year. Nobody cares which year of Eagle they have unless they're a hardcore numismatist. But the Golden Swan series is what collectors call "semi-numismatic."
The design changes every single year.
That one little detail changes everything. It turns a commodity into a collectible. In 2017, we saw the lone swan gliding. By 2018, it was a swan with a cygnet. Later years showed the bird taking flight or preening its feathers. If you miss one year, your set is incomplete. That psychological itch to "collect them all" is a powerful drug in the coin world, and it drives the premium—the amount you pay over the actual gold price—into the stratosphere.
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The 2017 "First Year" Factor
If you’re looking at the Golden Swan series as an investment, the 2017 is the "Holy Grail." It’s the origin story. Because it was the first of its kind for the Perth Mint in this specific format, it carries a historical weight that the later years just can't match.
The Perth Mint has a massive reputation for quality. They are the same people who make the Kookaburras and the Koalas. But those are silver staples. Bringing that same "changing design" logic to a 24-karat (.9999 fine) gold coin was a gamble that paid off massively. Honestly, if you find a 2017 Gold Swan at a local coin shop for anywhere near the spot price of gold, buy it. Seriously. You won't, though. The owners know what they have.
Spotting the nuances in the Golden Swan series designs
The artistry is actually kind of incredible when you look at it under a loupe. The Perth Mint uses a mix of frosted and polished finishes that make the water ripples look like they're actually moving. It's subtle. You might not notice it at first glance, but compared to a standard bullion coin, the depth of the engraving is much deeper.
- 2017: The debut. A classic profile of a swan on the water. Simple. Iconic.
- 2018: Features a mother swan and her baby. This one really tugged at the heartstrings of hobbyists.
- 2019: The swan is taking flight, wings spread wide. The detail on the feathers here is probably the best in the series.
- 2020 and beyond: The Mint started playing with different angles—swans landing, swans preening, and various lakeside backgrounds.
One thing you've got to watch out for is the "P" mintmark. It’s the signature of the Perth Mint. Every authentic coin in the Golden Swan series will have it tucked away somewhere in the design. If it's not there, or if it looks "mushy" and poorly defined, you’re likely looking at a counterfeit. And yes, because these carry such high premiums, the fakes are out there.
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The math of the mintage numbers
Let's talk numbers because that's where the value hides. The gold version of the swan is strictly limited to 5,000 pieces per year. To put that in perspective, the US Mint strikes millions of Gold Eagles. When you have only 5,000 units for the entire world, you aren't just competing with local buyers; you're competing with wealthy collectors in Germany, China, and the US who all want the same tiny supply.
This scarcity creates a "bottleneck" effect. Once those 5,000 coins move from the wholesalers to private hands, they disappear. They go into safes. They go into long-term portfolios. They don't come back out until someone dies or the price of gold hits a record high. This is why you'll see a Golden Swan series coin trading for $500 or $1,000 over the actual value of the gold inside it. You're paying for the rarity, not just the metal.
Is the hype actually worth the cost?
Honestly? It depends on why you’re buying. If you just want to hedge against inflation, don't buy the Golden Swan series. You’re paying too much of a premium. You’d be better off buying a generic gold bar where you get more metal for your dollar.
But if you’re a collector who enjoys the hunt, this series is top-tier. There is a genuine thrill in tracking down a specific year to fill a hole in your display case. Plus, historically, these "low mintage" coins tend to hold their value better during gold price dips. When the price of gold goes down, the "collector value" often stays flat, providing a sort of floor for your investment. It’s a double-edged sword, though. You have to find a buyer who cares about the swan. If you try to sell this to a local pawn shop, they might only offer you the "melt value," which would be a huge waste of money. You need to sell to other collectors or reputable dealers like Apmex or JM Bullion who recognize the series.
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What about the silver version?
Yeah, there’s a silver version too. It has a much higher mintage—usually around 25,000. It’s more affordable, but it follows the same design patterns. Many people use the silver swans as a "gateway drug" before they commit the thousands of dollars required for the gold version. The silver ones also appreciate in value, but the gold ones are the real trophies.
How to start your collection without getting ripped off
If you're ready to dive into the Golden Swan series, you need a plan. Don't just go to eBay and click the first thing you see. That's a recipe for disaster.
- Verify the weight and purity. These are 1-ounce coins. They should weigh exactly 31.1 grams. If you're buying in person, ask the dealer to put it on a Sigma Metalytics verifier. This machine uses electromagnetic waves to check the metal without scratching the coin.
- Check the capsule. Perth Mint swans are issued in protective plastic capsules. If the coin is "naked" and has scratches (hairlines) on the surface, its collector value drops significantly. In the coin world, condition is everything.
- Watch the premiums. Use a site like FindBullionPrices to see what the current "going rate" is. If one site is charging $2,500 and another is charging $2,800 for the same year, you know what to do.
- Look for "First Strike" or Graded options. Some people prefer coins graded by PCGS or NGC (like MS70). These come in hard plastic slabs and are guaranteed to be in perfect condition. They cost more, but they are much easier to resell later because the authenticity is guaranteed by a third party.
The Golden Swan series represents a specific moment in minting history where art and bullion crashed into each other. It’s a beautiful series, but it’s one that requires a bit of homework. You aren't just buying gold; you're buying a piece of Australian craftsmanship that just happens to be made of 24-karat gold.
Next Steps for Your Collection
To get the most out of this series, start by identifying the specific year you find most attractive rather than trying to buy the whole set at once. Focus on sourcing from authorized Perth Mint distributors to ensure you aren't receiving a high-quality "replica." If you're buying for investment, prioritize the 2017 or 2018 issues, as these have historically shown the most consistent growth in numismatic premium. Always store these coins in their original mint capsules to prevent "red spots" or copper spots, which can sometimes appear on high-purity gold and detract from the visual appeal.