1 oz Royal Australian Mint Lunar Gold Coin

The Royal Australian Mint Lunar Gold Coin

The 1 oz RAM Lunar gold coin contains one troy ounce of 999.9 fine gold and follows the 12-year Chinese zodiac cycle, with a new animal design each year. Launched in 2020 with the Year of the Mouse, the series is produced by the Royal Australian Mint (RAM) in Canberra, Australia's official national mint. The coin carries a face value of $100 AUD and is legal tender of Australia.

This series is frequently confused with the Perth Mint Lunar programme, which began in 1996 and is now on its third series. The two are entirely separate products from different mints. The Perth Mint is a state government enterprise in Western Australia; the RAM is the federal government's mint that produces all of Australia's circulating coins. The RAM Lunar represents Canberra's push into the investment bullion market, a space historically dominated by the Perth Mint within Australia.

Annual gold mintage is limited to 5,000 coins, placing the RAM Lunar in a scarcity bracket well below most sovereign bullion coins. The 2024 Year of the Dragon issue saw particularly strong demand, as the Dragon is traditionally the most sought-after animal in the Chinese zodiac cycle. Each coin is struck from ethically produced Australian gold, and the 2020 inaugural issue was the first RAM coin to feature a new multi-level security system.

The RAM Lunar designs tend toward a contemporary Australian art style, distinct from the Perth Mint's more traditional Chinese-influenced motifs. The primary reverse designer through the early years of the series was recruited from RAM's roster of Australian artists, giving the coins a visual character that reflects their dual British-Australian and Chinese heritage.

RAM Lunar Gold Coin Specifications

Release Schedule

The 39.34 mm diameter is notably larger than many competing 1 oz gold coins. The Britannia measures 32.69 mm, the Maple Leaf 30.0 mm, and the standard Krugerrand 32.77 mm. This extra surface area gives the annual zodiac animal designs room to express the detail that makes lunar coins appealing to collectors.

The obverse featured Queen Elizabeth II (Jody Clark portrait) from 2020 through 2024, transitioning to King Charles III from the 2025 Snake onwards. The coin's security features include a three-level system first introduced on the inaugural 2020 release; specific details are not publicly documented, following a security-through-obscurity approach.

The RAM Lunar is also available in fractional gold sizes (1/4 oz and 1/2 oz) and in 1 oz silver at .999 purity with a mintage of 50,000.

Tax Treatment of the RAM Lunar Gold Coin

The RAM Lunar gold coin qualifies as investment gold in all major bullion-buying jurisdictions, meeting purity thresholds comfortably at 999.9 fine.

• Australia: GST-free as investment-grade gold (purity at or above 99.5%). Capital gains tax applies, with a 50% discount for individuals holding longer than 12 months.
• United Kingdom: VAT-exempt as investment gold. Not CGT-exempt, because only UK legal tender coins (such as the Gold Britannia and the Sovereign) qualify for that exemption. UK investors disposing of RAM Lunar coins at a profit will owe CGT above the annual allowance of £3,000.
• United States: Meets the IRS purity requirement of 99.5% for gold in an IRA, and is government-issued by a sovereign mint. However, it is not specifically listed on all custodian approved lists, as the series is relatively new. Investors should confirm eligibility with their chosen IRA custodian. Capital gains are taxed at the collectibles rate of up to 28%.
• Canada: GST/HST exempt for gold bullion at 99.5% purity or higher. The 999.9 fineness qualifies. Capital gains are taxed at a 50% inclusion rate (66.67% above $250,000 CAD for individuals, from June 2024).
• New Zealand: GST-exempt at 99.5% purity or higher. No formal capital gains tax for genuine long-term investors.
• Singapore: GST-exempt under the Investment Precious Metals scheme for qualifying gold coins at 99.5% purity or higher.
• Hong Kong: No sales tax, no import duty, no capital gains tax.
• South Africa: Gold coins other than Krugerrands are subject to 15% VAT. Not zero-rated.

RAM Lunar vs Perth Mint Lunar and Other Zodiac Gold Coins

The Perth Mint Lunar is the dominant product in this space, with Series I launched in 1996, followed by Series II in 2008 and Series III in 2020. The RAM entered the field 24 years after Perth, and the differences in market position are substantial.

Perth Mint Lunar coins carry stronger global liquidity and wider dealer availability. The RAM Lunar trades at lower premiums partly because of lower brand recognition, which can be an advantage for cost-conscious buyers. The 5,000 annual gold mintage makes the RAM version significantly scarcer, though this has not yet translated into consistent collector premiums given the series is only six years old.

The Royal Mint Lunar (Shengxiao Collection) provides an alternative for UK buyers who want zodiac coins with CGT exemption. Launched in 2014, it covers the same 12-year cycle but carries UK legal tender status. From 2021, the Royal Mint discontinued its bullion-grade Lunar releases, offering only proof and brilliant uncirculated versions at higher premiums, which narrows the competition for buyers seeking bullion-grade lunar coins at standard premiums.

Against non-zodiac 1 oz gold coins, the RAM Lunar competes on design variety and scarcity rather than on premium or liquidity. The 1 oz Gold Maple Leaf and 1 oz Gold Britannia both offer tighter spreads, deeper secondary markets, and more advanced security features. The RAM Lunar's annual zodiac design is its primary differentiator for buyers who value collectibility alongside their bullion investment.