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About the Dragon Rectangular Gold
Perth Mint Dragon Rectangular Gold Coins
The Dragon Rectangular is an annual bullion coin series from the Perth Mint, first issued in 2018, that combines two unusual features: a rectangular shape and a new dragon design every year. Despite being shaped like a bar, it is legally classified as a coin, carrying Australian legal tender status with a face value of AUD $100 for the 1 oz gold version. This makes it one of the very few rectangular legal tender bullion products in the world.
The format sits deliberately between a coin and a bar. It has the government guarantee, legal tender status, and face value of a coin, with the stackability and proportions of a bar. The dimensions (approximately 47.6 x 27.6 mm for the 1 oz silver version) are close to credit card proportions. Perth Mint describes it as "a cross between conventional coins and bars."
The annual dragon designs draw from both Eastern and Western mythology. Eastern dragons symbolise power, strength, and good fortune; the frequently depicted flaming pearl is a Chinese symbol representing wisdom, truth, and enlightenment. Each year's reverse is a completely new artistic interpretation. The 2024 coin was the first to feature the King Charles III obverse portrait (by Dan Thorne), replacing the Queen Elizabeth II portrait that appeared on earlier issues.
The 1 oz gold coin is the primary product, joined by the 1 oz gold bar variant. A 2 oz gold coin has also been produced.
Dragon Rectangular Gold Coin Specifications
| Attribute | 1 oz Gold Coin |
|---|---|
| Weight | 31.107g (1 troy oz) |
| Purity | .9999 fine gold (24K) |
| Face Value | AUD $100 |
| Format | Rectangular |
| Finish | Brilliant Uncirculated / Proof |
The rectangular dimensions for the 1 oz silver version are 47.60 mm length, 27.60 mm width, and 3.57 mm maximum thickness. These proportions are close to a credit card, making the coin distinctive in hand and easy to store alongside bar products. The coin carries a reeded edge despite its non-circular shape.
Annual Design History
| Year | Reverse Design | Obverse |
|---|---|---|
| 2018 | First dragon design | Queen Elizabeth II (Jody Clark) |
| 2019 | New dragon design | Queen Elizabeth II |
| 2020 | New dragon design | Queen Elizabeth II |
| 2021 | Dragon with tightly curled body | Queen Elizabeth II |
| 2022 | Coiled dragon with flaming pearl | Queen Elizabeth II |
| 2023 | Dragon with treasure hoard | Queen Elizabeth II |
| 2024 | Oriental dragon with flaming pearl, water, and clouds | King Charles III (Dan Thorne) |
| 2025 | Snarling dragon with open claws (Lucas Bowers) | King Charles III |
Security features include Perth Mint's standard micro-laser engraved letters on the reverse (detectable only under magnification), the 'P' mintmark, and the LBMA-accredited swan logo. Proof versions carry a mintage of 3,888, a number chosen deliberately as 8 is considered the luckiest number in Chinese culture.
Dragon Rectangular Tax Treatment by Country
The Dragon Rectangular is Australian legal tender, which affects its tax classification in several jurisdictions. The .9999 purity exceeds the investment gold threshold in every major bullion market.
Purchase Tax
- Australia: GST-free as investment gold. Legal tender coins at .995+ purity from the Perth Mint qualify under the GST Act.
- United Kingdom: VAT-free as investment gold. Not UK legal tender, so not CGT-exempt. Gains are subject to CGT at the individual's rate.
- European Union: VAT-exempt as investment gold under the EU Directive.
- United States: Perth Mint .9999 gold coins are generally IRA-eligible, meeting the fineness requirement. The rectangular format may raise questions about "coin" classification with some custodians; confirm before purchasing for an IRA.
- Canada: GST/HST exempt at .995+ purity. Meets purity requirements for RRSP eligibility.
- Singapore: GST-exempt under the IPM scheme for gold coins of .995+ purity that are or were legal tender.
- Hong Kong: No sales tax applies.
- New Zealand: GST-free for investment gold at .995+ purity.
Capital Gains
In the UK, the Dragon Rectangular is not CGT-exempt. Only UK legal tender coins (Royal Mint issues such as the Britannia and Sovereign) carry CGT exemption. Australian legal tender status confers no CGT advantage in the UK. In the US, gains are taxed at the 28% collectibles rate. In Australia, a 50% CGT discount applies for individuals holding longer than 12 months.
Dragon Rectangular vs Lunar, Kangaroo, and Panda
The Perth Mint's own Lunar Series III includes a Year of the Dragon coin within its 12-year zodiac cycle. The Lunar series is round, offers a much wider range of sizes (1/20 oz to 1 kg), and has a broader zodiac scope. The Dragon Rectangular is dragon-only, every year, in a unique format. Both carry .9999 purity and Perth Mint quality, but the Dragon Rectangular appeals specifically to buyers who want dragon-themed bullion without waiting for the Lunar dragon year to come around.
Against the Australian Kangaroo, the Dragon Rectangular has lower mintages and commands higher premiums. The Kangaroo is Perth Mint's mass-market bullion coin with very high production runs and premiums closer to spot. The Kangaroo has an annual design change too, but its design differences are subtler. For pure bullion accumulation, the Kangaroo is more cost-effective.
The Chinese Panda shares annual design changes and Eastern cultural themes. The Panda uses .999 purity (three nines) versus the Dragon Rectangular's .9999 (four nines) and switched from troy ounces to metric grams in 2016. The Panda has a stronger numismatic following in China.
The rectangular format itself is the product's most distinctive feature. No other government-issued bullion coin uses this shape. It stacks like a bar, carries the legal protections of a coin, and the dragon theme gives it cross-cultural appeal across Asian and Western markets. For buyers in Singapore or Hong Kong, the Eastern dragon symbolism adds cultural resonance that round Western-themed coins lack.
Dragon Rectangular Gold: frequently asked questions
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Prices move with the live $4,171.00 spot price for the metal. We track 19 listings across 11 dealers, so you can compare prices across the full range of gold, silver, and platinum variants and find the best available deal at any given moment.
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The Dragon Rectangular is a series of bullion items struck by the Perth Mint, featuring a new dragon design each year. Unlike standard coins or bars, the pieces have a distinctive rectangular shape with a face value, making them Australian legal tender. The series covers gold, silver, and platinum, with 19 individual products currently tracked across dealers.
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Yes. The Perth Mint has issued a completely new dragon reverse design every year since 2018, drawing on both Eastern and Western dragon mythology. Each annual edition becomes a distinct collectible with its own secondary market, and the limited proof version (3,888 pieces per year) typically commands a premium over the bullion strike.
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Authentic Dragon Rectangular pieces carry the Perth Mint's "P" mintmark and the LBMA-accredited swan logo on the reverse, plus micro-laser engraved letters that are only detectable under magnification. Proof versions include additional anti-counterfeiting measures. Buying from an authorised Perth Mint dealer or a reputable bullion retailer is the most straightforward way to ensure authenticity.