1.5 oz Grizzly Bear Silver Coin

The 1.5 oz RCM Grizzly Bear Silver Coin

The 1.5 oz Grizzly Bear is a Royal Canadian Mint silver coin from the RCM's non-standard weight wildlife bullion programme. Struck in .9999 fine silver with a face value of $8 CAD, it provides 50% more silver per coin than a standard 1 oz piece at the same 38 mm diameter, with the extra metal accommodated by increased thickness.

This product is distinct from the 2011 Grizzly Bear coin in the Canadian Wildlife Series, which was a 1 oz coin at $5 CAD face value. The two coins share the grizzly bear subject but are from different product lines with different weights, face values, and years of issue. The 1 oz Wildlife Series version had a fixed mintage of 1,000,000 and was part of a six-coin programme (2011-2013). The 1.5 oz version is a separate bullion offering from the RCM's larger-format coin range.

The grizzly bear (Ursus arctos horribilis) is one of North America's apex predators, found across western Canada, Alaska, and pockets of the northwestern United States. Males can weigh up to 360 kg and stand over 2 metres tall on hind legs. The species is deeply associated with the Canadian wilderness and appears regularly on Canadian coins and currency.

The RCM's .9999 purity standard gives the Grizzly Bear an edge over .999 competitors in terms of tax qualification. Every jurisdiction with a silver purity threshold for sales tax exemption (Canada at 99.9%, Australia and New Zealand at 99.9%, Singapore at 99.9%) is comfortably exceeded. The coin also incorporates RCM security features including radial finish lines and, on later issues, the micro-laser engraved maple leaf privy mark.

1.5 oz Grizzly Bear Silver Specifications

The 38 mm diameter matches the Silver Maple Leaf, meaning the coin fits standard 38 mm capsules and coin storage accessories. The additional half-ounce of silver compared to a 1 oz coin is accommodated entirely through increased thickness (approximately 4.5 mm vs 3.29 mm for the Maple Leaf).

The obverse carries the portrait of the reigning monarch: Susanna Blunt's Queen Elizabeth II for earlier issues, or Steven Rosati's King Charles III for recent production. The $8 face value was introduced specifically for the RCM's 1.5 oz format, maintaining a rough proportionality with the $5 denomination of the 1 oz Maple Leaf. The reverse design depicts the grizzly in its natural habitat, consistent with the RCM's tradition of detailed wildlife compositions that began with the Canadian Wildlife Series in 2011. Bilingual inscriptions in English and French confirm the weight and purity as "FINE SILVER 1 1/2 OZ ARGENT PUR", meeting Canadian legal requirements for all coinage.

Tax Treatment of the 1.5 oz Grizzly Bear

Tax treatment is standard for RCM legal tender silver bullion at .9999 purity, with no distinction based on the non-standard weight.

• Canada: GST/HST exempt as RCM legal tender silver at 99.9%+ purity. Capital gains taxable at the 50% inclusion rate.
• United States: IRA-eligible at .9999 purity (exceeds the .999 IRS minimum). Most states exempt investment bullion from sales tax. Capital gains at the 28% collectibles rate.
• United Kingdom: 20% VAT on purchase. Not CGT-exempt (not UK legal tender). UK buyers of this coin face both VAT on entry and CGT on disposal, unlike UK legal tender silver coins such as the Silver Britannia.
• Australia: GST-free for investment-grade silver at 99.9%+ purity.
• New Zealand: GST-exempt at 99.9%+ purity. No capital gains tax.
• Singapore: GST-exempt under IPM for qualifying silver coins at 99.9%+ purity from recognised mints.
• Hong Kong: No sales tax, import duty, or capital gains tax.
• European Union: Standard VAT rates apply to silver (17-27%). Margin scheme may be available for pre-owned coins in some countries.

1.5 oz Grizzly Bear vs Other RCM Wildlife Silver

The Grizzly Bear competes within a range of RCM wildlife silver coins that vary in weight, mintage structure, and market positioning.

The 1.5 oz Arctic Fox shares the same weight, purity, face value, and diameter. Both are from the RCM's 1.5 oz wildlife programme and are now secondary market products. The choice between them is aesthetic: Arctic tundra fox vs Canadian Rockies grizzly. Both trade at similar premiums as discontinued RCM bullion.

The 1.25 oz Bison is the closest in-production alternative. It provides less silver per coin (1.25 vs 1.5 oz) but is minted to order with current-year availability and lower premiums than discontinued issues. The Bison is the practical choice for ongoing accumulation; the Grizzly Bear suits buyers who want a specific wildlife design with some scarcity value.

The 1 oz Grizzly Bear from the Canadian Wildlife Series (2011) is a different coin entirely: same subject, different product line. The Wildlife Series coin had a 1,000,000 mintage and is the more widely collected of the two, representing the RCM's first dedicated silver bullion programme outside the Maple Leaf. The 1.5 oz version is less well-known but contains 50% more silver per coin.

Against the 1 oz Silver Maple Leaf, the Grizzly Bear provides 50% more silver at the same diameter. The Maple Leaf has unmatched global liquidity, the lowest RCM premiums, and continuous annual production. Buyers optimising for cost per ounce and resale ease should consider the Maple Leaf; buyers who want more silver per coin with a distinctive design and accept a secondary-market premium will find the Grizzly Bear appealing.