1 oz Perth Mint Lunar Silver Coin

The 1oz Silver Lunar: Twelve Animals, Three Series

The 1 oz silver Lunar is the most popular denomination in the Perth Mint's Lunar program, the first precious metal coin series from a major mint to celebrate the Chinese zodiac calendar. Each year's coin features one of the twelve zodiac animals, with the design changing annually across complete 12-year cycles: Series I (1996-2007, silver from 1999), Series II (2008-2019) and the current Series III (2020-2031). The coins are Australian legal tender with a $1 AUD face value.

The annual zodiac rotation gives the silver Lunar a dual character that fixed-design coins lack. It trades as bullion on its metal content, but controlled mintages and the cultural pull of particular animals create genuine collector demand on top; Dragon years (2000, 2012, 2024) consistently sell out fastest, and early Series I coins trade at substantial premiums over spot. Buyers get the option, not the obligation, of that upside: each coin stands alone as a silver purchase whether or not a set is ever completed.

Current Series III coins are struck in 99.99% fine silver with the program's best security to date: a micro-laser engraved letter detectable under magnification, a "P" mintmark worked into the reverse design, and a precision-machined radial line background. The series was built for Asia-Pacific markets where the lunar calendar carries cultural weight, particularly China, Hong Kong, Singapore and Malaysia, and demand there remains a structural support. Stackers wanting the cheapest possible Perth Mint ounce will find lower premiums on the fixed-cap 1oz silver Kangaroo; the Lunar is the pick when annual designs and collectibility justify a modest extra cost.

Silver Lunar Specifications Across the Three Series

The 1 oz silver Lunar's specifications have changed more than most bullion coins, and the differences matter for storage and secondary-market buying.

Series II coins are noticeably wider and thinner than the others (45.6 mm versus 40.6 mm), so storage tubes from one series may not fit coins from another. The purity upgrade from three nines to four nines arrived mid-Series II in 2017, making 2017-2019 coins technically superior to earlier Series II issues. All denominations across all series have a reeded edge. Beyond the 1 oz coin, the silver range has included sizes from 1/2 oz up to a 10 kg coin, and the obverse has carried the reigning monarch throughout, with King Charles III appearing from 2024. Series III adds micro-laser engraving, the "P" mintmark and radial line background; Series I and II have no advanced security features, so authentication of older coins relies on weight, dimensions and strike quality.

Silver Lunar Tax Treatment by Country

The silver Lunar's tax position tracks standard silver bullion rules, with its 99.9%+ purity keeping it on the right side of every major exemption threshold.

• Australia: Investment-grade precious metals are GST-free, and CGT applies on disposal with a 50% discount for individuals holding 12 months or more. There is no Australian CGT exemption for legal tender bullion coins.
• UK: Silver attracts 20% VAT, and the Lunar is not CGT-exempt because it carries an Australian rather than sterling face value. UK buyers wanting zodiac designs with CGT exemption have the Royal Mint's own lunar coins as the domestic alternative; the Perth Lunar is popular there as a collector's variety despite the tax position.
• USA: IRA-eligible, with both the 99.9% and 99.99% silver issues meeting the IRS fineness floor for silver. Most states exempt bullion from sales tax. Gains are taxed at the collectibles rate of up to 28%.
• Canada: GST/HST-exempt as qualifying fine silver in coin form, and eligible for RRSPs through approved dealers.
• EU: Silver coins are subject to local VAT at full national rates, with margin-scheme relief available on pre-owned or imported coins in some countries, notably Germany.
• New Zealand: GST-exempt as fine silver bullion at 99.9%+ purity in coin form.
• Singapore and Hong Kong: Singapore exempts qualifying 99.9%+ legal tender silver coins from GST and Hong Kong levies no sales tax; neither taxes capital gains. These are core Lunar markets and among the cheapest places to hold the coin.

Three Zodiac Cycles Since 1996

The Perth Mint launched the Lunar program with a gold coin in 1996, the Year of the Mouse, becoming the first major western mint to build a bullion series around the Chinese lunar calendar. Silver joined the program in 1999, and the series has since completed two full 12-year zodiac cycles, with the third running from 2020 to 2031. The motivation was explicitly commercial geography: the lunar calendar's importance in China, Hong Kong, Singapore and Malaysia gave the Perth Mint a product designed for its nearest export markets, and other mints followed years later.

Each series has its own visual identity. Series I used simpler, traditional designs with a distinctive pimpled border, stylised cloud motifs and the Chinese character for each animal. Series II moved to more complex compositions, some years featuring multiple animals on the reverse. Series III carries the most intricate designs yet, surrounding each zodiac animal with landscape elements, and pairs them with the program's first real security features: micro-laser engraving, the "P" mintmark and radial line backgrounds.

Scarcity is concentrated at the front of the timeline. Series I coins from 1996-1999 are significantly scarcer than later years and trade well above spot, and the extreme case is the 2007 Year of the Pig 10 kg gold coin, struck in a mintage of just six pieces. Dragon years are the perennial sellouts across all metals, reflecting the dragon's status as a symbol of power and good fortune. The silver coin's own milestones, the 2017 mid-series purity upgrade to 99.99% and the Series II size change, mean the silver Lunar series is unusually well documented year by year, which is part of what sustains its collector market.

Silver Lunar vs Panda, Maple Leaf and Koala

The Chinese Panda is the Lunar's most natural rival: both change designs annually and both draw on Chinese culture. The practical differences are weight standard and provenance. The Panda switched from troy ounces to metric sizing in 2016, with 30 g replacing the 1 oz coin, while the Lunar stays in troy ounce denominations that match the rest of the bullion market. Panda mintages run higher in most years, whereas Lunar mintages are more controlled, supporting the Lunar's collector premium.

Against the Canadian Maple Leaf, the trade is the familiar one between collectibility and pure stacking efficiency. The Maple matches Series III's .9999 purity, carries the Royal Canadian Mint's Bullion DNA anti-counterfeiting system, and is minted in unlimited quantities at lower premiums. The Lunar answers with annual zodiac designs and controlled mintages; it costs more per ounce going in, with the possibility, not the promise, that popular years appreciate above spot.

Within the Perth Mint's own stable, the 1oz silver Koala and Kookaburra offer the same annual-design formula with Australian wildlife instead of zodiac animals, both with hard mintage caps. The Lunar's zodiac theme gives it the broader international demand base, particularly in Asia, and Series III's security features exceed the Koala's. For buyers choosing one annual-design Australian coin, the Lunar is the most liquid of the three; for those stacking silver at the lowest cost, the fixed-design silver Kangaroo remains the Perth Mint's value option.