1/2 oz Chinese Lunar Gold Coin

A Dubai Take on the Chinese Zodiac

The 1/2 oz Emirates Gold Chinese Lunar coin occupies an unusual niche in the gold bullion market. Produced by Emirates Gold, a Dubai-based refiner, it pairs the Chinese zodiac theme popularised by mints like the 1/2 oz Perth Mint Lunar with a distinctly Middle Eastern origin. At 750 fineness (18 karat), it sits well below the 999 or 999.9 purity typical of most modern bullion coins, which affects both its investment profile and its tax treatment in several jurisdictions.

The 18-karat composition makes this coin more durable than higher-purity alternatives. Gold at 750 fineness is alloyed with other metals (typically silver and copper), producing a harder surface that resists scratching and wear. This is the same alloy grade used in fine jewellery, and it gives the coin a slightly warmer colour than the pale yellow of 999.9 gold. For buyers who prioritise handling durability over maximum fine gold content, this is a practical advantage.

Each coin contains 11.664 grams of fine gold (75% of 15.5518 grams). By comparison, a 1/2 oz Perth Mint Lunar at 999.9 fineness contains 15.55 grams of fine gold. The premium calculation should account for this difference: the Chinese Lunar delivers roughly 25% less fine gold per coin at the same gross weight. Buyers comparing prices across products need to evaluate cost per gram of fine gold, not cost per coin.

Emirates Gold holds LBMA accreditation for gold refining, which provides assurance of manufacturing standards. The company operates from the Dubai Multi Commodities Centre (DMCC), the hub of the Middle Eastern precious metals trade. Dubai processes a significant share of global gold flows, and products from DMCC-based refiners circulate widely in Asian and Middle Eastern markets.

Emirates Gold Chinese Lunar Specifications

The 750 fineness distinguishes this coin from most modern bullion products. For reference, the standard purities in the gold coin market are 999.9 (the 1/2 oz Gold Britannia, 1/2 oz Gold Maple Leaf, and 1/2 oz Perth Lunar) and 916.7 (the 1/2 oz Krugerrand and 1/2 oz American Gold Eagle). At 750 fineness, the Emirates Gold Chinese Lunar falls below all of these, placing it closer to jewellery-grade gold than investment-grade bullion by most international standards.

Precise diameter and thickness specifications are not widely published for this product. Emirates Gold's product documentation focuses on weight, purity, and gold content rather than physical dimensions. The coin follows the Chinese zodiac theme, with each annual issue featuring the corresponding zodiac animal for that year. The alloy composition at 750 fineness provides noticeably greater scratch resistance and durability than the softer 999.9 gold used by most competitor coins, a property that makes it better suited to handling without protective capsules.

Tax Implications of 750 Fineness Gold

The 750 purity of this coin creates significant tax complications in several key bullion markets. Most countries that offer VAT or GST exemptions on investment gold set minimum purity thresholds that this coin does not meet.

• United Kingdom: Investment gold is VAT-exempt when purity is 995 or above, or when the coin is a post-1800 legal tender coin of 900+ fineness that appears on HMRC's approved list. At 750 fineness, this coin does not qualify for either exemption and will attract 20% VAT on purchase. It is also not CGT-exempt (it is not UK legal tender).
• European Union: The EU Investment Gold Directive (98/80/EC) exempts gold coins that are post-1800, at least 900 fine, legal tender in their country of origin, and normally sold at no more than 80% above gold value. At 750 fineness, this coin falls below the 900 threshold and would be subject to the standard VAT rate of the relevant EU country (17% to 27%).
• United States: No federal sales tax applies. State-level treatment varies. For IRA eligibility, the IRS requires gold to be at least 99.5% pure (with a specific exception for American Gold Eagles). This coin does not qualify for precious metals IRAs.
• Canada: GST/HST exemption requires gold of 99.5% purity or greater. This coin is subject to full GST/HST.
• Australia: GST exemption for investment-grade gold requires 99.5% purity. This coin would attract 10% GST.
• New Zealand: Fine bullion GST exemption requires gold of 99.5% purity. This coin attracts 15% GST.
• Singapore: The Investment Precious Metals (IPM) exemption requires gold of 99.5% purity. This coin is subject to 9% GST.
• Hong Kong: No sales tax of any kind applies, regardless of purity.
• UAE/Dubai: Investment gold bullion is VAT-exempt at 0%. The local treatment of 750-fineness coins may differ from bars; buyers should confirm with dealers.
• South Africa: Only gold Krugerrands are zero-rated for VAT. Other gold coins attract 15% VAT regardless of purity.

The tax position makes this coin most attractive in jurisdictions with no sales tax (Hong Kong, some US states) or where the buyer intends to hold it in the UAE. In most other markets, the VAT or GST charge significantly increases the effective cost compared to a 999.9-fine alternative that would be tax-exempt.