The Gold Nugget was introduced in 1986 by the Gold Corporation, a company wholly owned by the government of Western Australia.
For the first 3 years that the Gold Nugget was minted, the reverse side of the coin features the "Welcome Stranger" gold nugget which was discovered in 1869. If you have wondered how the Australian Kangaroo Nugget gold coins got the 'nugget' in their name, this rare coin explains it.
The obverse of the Gold Nugget features Queen Elizabeth II.
The coins are legal tender in Australia, and the 1 oz Nugget has a face value of A$50.