RAM Lunar Gold

Australia's Federal Mint Takes on the Lunar Zodiac

The RAM Lunar series is a gold bullion coin programme from the Royal Australian Mint (Canberra), launched in 2020 with the Year of the Mouse. It follows the 12-year Chinese zodiac cycle, with a new animal design each year. This is a separate programme from the Perth Mint Lunar series, which started in 1996 and is now in its third cycle. The two series come from different mints, use different designs, and have different specifications.

RAM Lunar gold coins are struck from 999.9 fine gold and carry face values in Australian dollars ($100 AUD for the 1oz). The gold range spans 1/10oz, 1/4oz, 1/2oz, 1oz, and 2oz denominations. Gold mintage is capped at 5,000 per year per denomination, making these significantly scarcer than most bullion-grade coins and placing them in a collector-bullion crossover niche.

The 5,000-coin gold mintage is the series' most distinctive feature. For comparison, the Perth Mint Lunar gold bullion coins are produced in much larger quantities, and major coins like the Gold Maple Leaf or Gold Britannia have no fixed mintage cap. This scarcity means RAM Lunar gold coins can trade at premiums above their bullion value, particularly for popular zodiac years. The 2024 Year of the Dragon saw the highest demand, as the Dragon is traditionally the most sought-after year in any lunar series.

The RAM entered the investment bullion market significantly later than the Perth Mint, which has dominated Australian bullion production for decades. The Lunar series represents the RAM's most prominent investment coin programme, alongside the RAM Kangaroo. The coins are produced from ethically sourced Australian gold.

RAM Lunar Gold Coin Denominations

Gold mintage is limited to 5,000 per year per design, making these among the lowest-mintage gold bullion coins on the market. Each coin has a reeded edge and is Australian legal tender.

Release Schedule

The obverse featured the Jody Clark portrait of Queen Elizabeth II from 2020 to 2024. From 2025, the obverse transitions to the King Charles III portrait. Reverse designs are by Australian artists and use a more contemporary, modern style compared to the Perth Mint Lunar series' traditional Chinese-influenced aesthetic.

RAM Lunar Gold Tax Treatment by Country

RAM Lunar gold coins are legal tender of Australia, which governs their tax treatment across jurisdictions.

Australia

Investment gold of 99.5%+ purity is GST-free in Australia. The RAM Lunar at 999.9 fineness qualifies. Capital gains tax applies on profits, with a 50% CGT discount for individuals holding more than 12 months.

United Kingdom

Gold RAM Lunar coins are VAT-free as investment gold. They are not CGT-exempt in the UK; only UK legal tender coins (from The Royal Mint) qualify for that exemption. The Royal Mint Lunar (Shengxiao Collection) provides the CGT advantage for UK buyers who want a lunar-themed gold coin without capital gains liability.

United States

The RAM Lunar series is relatively new, and IRA eligibility is not widely confirmed by US custodians. The 999.9 purity meets the IRS threshold of 99.5% for gold, but specific custodian approval is required. State sales tax varies; most states exempt bullion purchases.

Canada

Gold coins of 99.5%+ purity are GST/HST-exempt. RAM Lunar coins qualify. They also meet purity requirements for RRSP and TFSA eligibility, assuming the custodian accepts them.

European Union

Gold RAM Lunar coins are VAT-exempt under the Investment Gold Directive as government-issued legal tender coins above 900 fineness.

Singapore and Hong Kong

Singapore classifies gold of 99.5%+ purity as Investment Precious Metals (0% GST). Hong Kong levies no sales tax, import duty, or capital gains tax on bullion.

RAM Lunar vs Perth Mint Lunar and Royal Mint Lunar

Three mints produce lunar zodiac gold coins, each with different characteristics. The Perth Mint Lunar is the original and most recognised, now in its third 12-year cycle (Series III started in 2020). It offers the widest weight range (1/20oz to 10oz gold), unlimited bullion mintage, and three decades of collector following. For global liquidity and brand recognition, the Perth Mint Lunar is the benchmark.

The RAM Lunar offers lower premiums than the Perth Mint version for current-year issues, combined with a 5,000-coin gold mintage that creates genuine scarcity. The design style is more contemporary and modern compared to Perth's traditional Chinese-influenced motifs. Buyers choosing between them are essentially choosing between the established market leader (Perth Mint) and a scarcer, lower-profile alternative (RAM) from Australia's federal mint.

The Royal Mint Lunar (Shengxiao Collection) is the most relevant comparison for UK buyers. Both the RAM and Royal Mint versions are 999.9 gold with annual zodiac designs. The critical difference is tax: the Royal Mint Lunar is UK legal tender and therefore CGT-exempt for UK residents. The RAM Lunar is not. From 2021, the Royal Mint discontinued bullion-grade Lunar coins, offering only proof and brilliant uncirculated finishes at higher premiums. Pre-2021 Royal Mint Lunar bullion coins now trade on the secondary market at elevated premiums. The RAM Lunar remains available as a bullion-grade product.

For buyers in Australia, the RAM and Perth Mint Lunars are both GST-free domestic products. The Perth Mint version has a stronger international secondary market. For buyers in the UK who want a lunar coin at bullion premiums, the RAM Lunar is one of the few remaining options since the Royal Mint shifted to proof-only production. For US buyers, the Perth Mint version has the most established dealer network and IRA track record.