Jerusalem Gold

The Holy Land Mint's Jerusalem Gold Series

The Jerusalem series comes from the Holy Land Mint, the trade name of the Israel Coins and Medals Corporation (ICMC), which was established in 1958 by Israel's first Prime Minister, David Ben-Gurion. Originally a government institution tasked with commemorating national events, the mint was privatised in 2008 when G.R.A.S. Design Combinations Ltd. won a government tender. The gold version of the Jerusalem round provides a way to hold .9999 fine gold from one of the oldest national minting institutions still operating, founded just a decade after Israeli independence.

The series is most recognised for its silver rounds, which have been produced annually since 2014 under the "Dove of Peace" motif. The gold versions, available in 1oz and 1/10oz weights, carry the same design language: the Old City of Jerusalem skyline with a dove bearing an olive branch in flight above. Each round is dated by year, creating a collectible annual programme alongside its function as an investment product.

These are rounds, not coins. They carry no face value and no government-backed legal tender status. The Holy Land Mint does produce separate legal tender coins for the Bank of Israel, but the Jerusalem rounds fall outside that programme. The mint's institutional pedigree (founded 1958, originally government-owned, still the exclusive distributor of Bank of Israel commemorative coins) gives the rounds more credibility than typical private mint offerings, but the lack of legal tender status affects their tax treatment and IRA eligibility in some jurisdictions.

Jerusalem Gold Round Specifications

The design places the Holy Land Mint hallmark logo on the reverse, with weight, purity, and year of issue stamped: the year and ".9999 FINE GOLD" alongside "ONE TROY OUNCE." The obverse features the Jerusalem skyline rendered in artistic relief, with the iconic Old City walls, domes, and towers visible beneath the dove carrying an olive branch. "JERUSALEM" appears as part of the imagery. The 2024 issue marked the 10th anniversary of the Dove of Peace bullion programme and included special "DOVE OF PEACE" and "10TH ANNIVERSARY" inscriptions. No hologram, serial number, or edge lettering has been documented for the rounds. Authentication relies on the mint's hallmark, weight, and purity verification.

Tax Treatment of the Jerusalem Gold Round

Because these are rounds without legal tender status, their tax treatment differs from sovereign-issued coins in several important ways.

United Kingdom: Gold rounds at .9999 purity qualify as investment gold and are VAT-exempt under HMRC rules. The purity threshold for VAT exemption on gold is 995 thousandths, and the Jerusalem round exceeds this. However, as a non-legal-tender product, the round is subject to Capital Gains Tax on disposal at 18% (basic rate) or 24% (higher rate), with the annual GBP 3,000 allowance applying. It is not CGT-exempt like UK legal tender coins such as the Britannia or Sovereign.

United States: No federal sales tax. State-level exemptions for precious metals vary, with approximately 35 states exempting bullion purchases. As a private mint round without legal tender status, IRA eligibility is uncertain. IRS Section 408(m) requires coins to be legal tender or bars to come from accredited refiners. The Holy Land Mint is not on the LBMA Good Delivery List, which may complicate IRA custodian acceptance. Capital gains are taxed at the 28% federal collectibles rate for holdings over one year.

Canada: Gold at 99.5%+ purity is GST/HST-exempt. The Jerusalem round qualifies at .9999. Capital gains follow standard rules: 50% inclusion rate (66.67% above CAD 250,000 since June 2024).

Australia: Investment gold at 99.5%+ purity is GST-exempt. The round qualifies. Standard CGT applies, with a 50% discount for holdings over 12 months.

Singapore: The Investment Precious Metals scheme requires gold to be 99.5%+ purity and either in bar/ingot/wafer form or a qualifying coin on the MAS-approved list. As a round (not a coin or bar in regulatory terms), IPM eligibility depends on how IRAS classifies it. Standard 9% GST may apply.

Hong Kong: No sales tax, no CGT, no import duty. Tax treatment is straightforward regardless of legal tender status.

Jerusalem Gold vs Other Mint Rounds and Coins

The Holy Land Mint competes in an unusual space: it is not a sovereign mint in the traditional sense (it no longer produces circulating currency), but it has institutional pedigree that most private mints lack. Founded by a head of state, it held government ownership for 50 years before privatisation.

Against sovereign-issued 1oz gold coins like the Canadian Maple Leaf (.9999), Britannia (.9999), or Philharmonic (.9999), the Jerusalem round matches on purity but falls behind on legal tender status, liquidity, and secondary market recognition. Sovereign coins are universally accepted by dealers worldwide with minimal verification; the Jerusalem round, while well-made, requires more buyer familiarity. Sovereign coins also benefit from tax advantages in certain jurisdictions (UK CGT exemption, potential IRA eligibility in the US) that rounds do not.

Against other private mint gold rounds, the Holy Land Mint holds a stronger position. Its 1958 founding date and former government ownership distinguish it from newer private mints. The annual design programme and consistent quality create a recognisable product line, similar in approach to the Perth Mint's various programmes. Premiums for the gold rounds are moderate relative to other recognisable-brand rounds, though higher than generic or unbranded alternatives.

The Holy Land Mint also produces a separate "Jerusalem of Gold" series of legal tender coins issued through the Bank of Israel, with .9999 gold content and limited mintages of 3,600 per issue. Those coins carry legal tender status in Israeli New Shekels and may offer advantages where legal tender classification matters for tax or retirement account purposes. The Jerusalem round, by contrast, is the more accessible product from a pricing standpoint.