Chinese Myths and Legends Gold

Perth Mint's Mythological Gold Series

The Chinese Myths and Legends series from the Perth Mint features rotating designs drawn from Chinese mythology, struck in 9999 fine gold as Australian legal tender. Launched in 2017 with the Dragon and Phoenix design, the series has released nine editions through 2025, each featuring a different mythological creature or cultural symbol. The 1 oz gold coin carries a $100 AUD face value and a maximum mintage of 5,000 pieces per year.

Each release is designed by a different Perth Mint engraver, giving every edition a distinct artistic interpretation rather than the house-style consistency of long-running series like the Australian Lunar. Themes have included the Dragon and Phoenix (yin-yang symbolism), the Double Pixiu (mythical wealth-guarding lions), the Four Guardians (cardinal direction protectors representing the four seasons), and the Dragon and Koi (referencing the legend that a koi swimming upstream can transform into a dragon at Dragon Gate).

Distribution follows an unusual model for a sovereign mint. LPM, a Hong Kong-based dealer, holds exclusive worldwide distribution rights outside Australia. This arrangement reflects the series' deliberate positioning for Asian markets, where the mythological themes carry strong cultural resonance. Perth Mint sells directly only within Australia. The result is that international availability depends on LPM's distribution network and authorised dealers who source through them.

The series includes a micro-laser engraved authentication element that requires magnification to detect, alongside the Perth Mint 'P' mintmark on the reverse. These security features, combined with Australian legal tender status and 9999 purity, give the coins a credibility profile comparable to the Perth Mint's better-known programmes.

Chinese Myths and Legends Gold Coin Specifications

Design Release History

The obverse has evolved through three portrait periods. Early issues carried Ian Rank-Broadley's portrait of Queen Elizabeth II, followed by the Jody Clark design. Current issues feature the Dan Thorne effigy of King Charles III. For collectors spanning the full series, the transition from Queen Elizabeth to King Charles marks a significant collecting milestone. Each coin also carries the Perth Mint 'P' mintmark and a micro-laser engraved authentication element that requires magnification to detect, providing a security layer beyond the standard legal tender status and assay card.

The 9999 purity standard places these coins alongside the Perth Mint Lunar and Kangaroo programmes in terms of gold content. The 5,000-piece annual mintage sits between the strictly limited collector coins and the effectively unlimited mainstream sovereign issues, creating moderate secondary market scarcity. The silver version of the series is produced at 40,000 pieces (down from the original 50,000), and a 10 oz silver coin limited to 888 pieces has been issued in select years, with the number 888 being a deliberate nod to Chinese numerology where 8 symbolises prosperity.

Tax Treatment of Chinese Myths and Legends Gold Coins

As Australian legal tender gold coins struck at 9999 fine purity, these coins receive favourable tax treatment in most major bullion markets. The specific rules vary by country.

VAT and Sales Tax

• Australia: GST-free as investment-grade bullion from the Perth Mint. This is the coin's home market, where it trades with no consumption tax.
• UK: VAT-exempt as investment gold. Post-1800 legal tender coins of 900+ fineness qualify under UK rules. At 999.9 purity with $100 AUD face value, these coins meet the criteria.
• EU: VAT-exempt under the EU Investment Gold Directive. The coins meet all three requirements: post-1800, legal tender in their country of origin, and at least 900 fine.
• Singapore: GST-exempt as Investment Precious Metals (IPM). Gold coins of 99.5%+ purity on the MAS-approved list qualify. Singapore is a key market for this series given the LPM distribution arrangement from Hong Kong.
• Hong Kong: No sales tax or import duty of any kind. Hong Kong's tax-free status is a key factor in LPM's role as exclusive distributor.
• US: No federal sales tax. State-level treatment varies, with roughly 35 states exempting bullion purchases.
• Canada: GST/HST-exempt on gold coins of 99.5%+ purity.
• New Zealand: GST-exempt for gold of 99.5%+ purity in coin form.

Capital Gains Tax

• UK: Subject to CGT. These are not UK legal tender, so the CGT exemption for Britannias and Sovereigns does not apply.
• US: Classified as a collectible. Long-term gains taxed at up to 28%.
• Australia: Subject to CGT, with a 50% discount if held for more than 12 months.
• Singapore and Hong Kong: No capital gains tax.

Retirement Accounts

• US (IRA): IRA-eligible. The 9999 purity and sovereign mint status meet the IRS Section 408(m) requirements for precious metals IRAs.
• UK (SIPP): Gold bullion is eligible for SIPPs. Gold held within a SIPP is also exempt from CGT.

From Dragon and Phoenix to Double Phoenix

The series launched in 2017 with the Dragon and Phoenix design by Ing Ing Jong, a Perth Mint engraver whose work drew on the fundamental yin-yang duality in Chinese cosmology. The dragon represents yang (male, heaven, emperor) and the phoenix represents yin (female, earth, empress). Their pairing symbolises the harmonious union of opposites, a theme that runs through much of Chinese art and philosophy. The debut release established the series' identity: mythological depth paired with Perth Mint production quality.

The Dragon and Tiger (2018/19) by Thomas Vaughan continued the duality theme, drawing on the four Chinese constellations where the tiger represents the west and autumn. Jennifer McKenna's Double Dragon (2019/20) explored the dragon motif through two intertwined dragons, a symbol of supreme power. Ing Ing Jong returned for the Double Pixiu (2020/21), depicting the winged lion-like creatures that Chinese tradition holds as guardians and attractors of wealth.

The mid-series releases expanded the mythological scope. Natasha Muhl's Flaming Dragon (2021/22) and Lucas Bowers' Phoenix (2022/23) explored individual creatures in more focused compositions. Wade Robinson's Dragon and Koi (2023/24) referenced one of China's most enduring legends: the tale of Dragon Gate, where a koi that successfully swims up the waterfall transforms into a dragon. This legend is also the origin of the Japanese koinobori (carp streamers) flown on Children's Day.

Robinson's Four Guardians (2024/25) depicted the Azure Dragon, Vermilion Bird, White Tiger, and Black Tortoise with snake, each guarding a cardinal direction and representing a season and one of the five Chinese elements. Lucas Bowers' Double Phoenix (2025/26) marks the most recent release, with a reduced silver mintage of 20,000 (down from the original 50,000), though the gold mintage has remained stable at 5,000.

A notable production variant exists on the 2017 Dragon and Phoenix silver coin, affecting an estimated 1,000 to 10,000 of the 50,000 total pieces. Polished areas appear behind the Phoenix's neck where a matte finish was intended. This variety has attracted collector interest, though it affects the silver rather than gold version. From 2021, the series expanded into coloured silver, antiqued finishes, and high-relief proof variants with concave mirrored backgrounds.

Chinese Myths and Legends vs Perth Mint Lunar and Chinese Panda

The Chinese Myths and Legends series competes with two other major Chinese-themed gold coin programmes, each occupying a different position in the market.

The Perth Mint Lunar series is the mint's longest-running Chinese-themed programme, based on the 12-year zodiac cycle. The Lunar series has completed three full cycles since 1996, giving it decades of secondary market history and strong collector recognition. Mintages for the Lunar gold coins are comparable. The key difference is thematic: the Lunar series uses zodiac animals (Rat through Pig), and the Myths and Legends series draws on Chinese mythology (dragons, phoenixes, guardian spirits). Buyers collecting both are not duplicating content, and the two series serve complementary rather than competing positions in a Perth Mint-focused collection.

The Chinese Panda from China Gold Coin Corporation is struck at 999 fine gold (three nines, vs the Perth Mint's four nines). Pandas are legal tender of the People's Republic of China, with massive collector followings and well-established grading and authentication markets. The Panda's advantage is its status as the original Chinese-themed gold bullion coin, with a history stretching to 1982. The Perth Mint series offers higher purity (9999 vs 999), Australian legal tender status, and IRA eligibility in the US, which the Chinese Panda does not have.

The Royal Mint's Lunar series, launched in 2014, also targets the zodiac market in both gold and silver. It differentiates through British legal tender status and CGT exemption in the UK. The Chinese Myths and Legends series has no CGT advantage in any jurisdiction but offers more distinctive and varied designs than the Royal Mint's more traditional approach.

For pure bullion investors, the choice between these series depends on what matters most: the Perth Mint Lunar offers the deepest secondary market history; the Chinese Panda offers the strongest cultural authenticity; and the Chinese Myths and Legends offers the most distinctive design programme with genuine mythological depth at 9999 purity.