Wedge-Tailed Eagle Gold

Perth Mint Gold Designed by a Former US Mint Chief Engraver

The Wedge-Tailed Eagle is an annual gold and silver bullion series from the Perth Mint, launched in January 2014, with reverse designs by John M. Mercanti. Mercanti served as the 12th Chief Engraver of the United States Mint from 2006 to 2010 and has produced more coin and medal designs than any employee in US Mint history, with over 100 to his name. The Wedge-Tailed Eagle was the first time a former US Mint Chief Engraver designed a coin for a foreign mint, and Mercanti described it as "one of the highlights of my career."

The gold version is struck in .9999 fine gold, matching the purity of the Perth Mint's flagship gold Kangaroo. The 1/10 oz gold Wedge-Tailed Eagle provides a fractional entry point, and a 1 oz gold version is also available. Gold editions are produced in more limited quantities than the silver counterparts, with the inaugural 2014 gold high-relief proof limited to just 1,000 pieces.

The coin features the wedge-tailed eagle (Aquila audax), Australia's largest bird of prey and one of the largest eagles in the world, with a wingspan reaching 2.3 metres. The bird symbolises freedom, strength, and vision in Australian culture. Each year brings a new Mercanti reverse design showing the eagle in different postures: swooping, perched, soaring, or with wings spread. This annual design rotation gives the series both bullion utility and collector appeal, with each vintage carrying a distinct look.

Wedge-Tailed Eagle Gold Coin Specifications

All gold versions are struck to .9999 fine purity, matching the standard across the Perth Mint's bullion range. The coins carry Australian legal tender status under the Currency Act 1965. Each coin includes a micro-laser engraved authentication letter on the reverse, visible under magnification, which is the Perth Mint's standard anti-counterfeiting measure for modern bullion releases.

The silver bullion version uses 99.99% purity at a maximum diameter of 40.90 mm and maximum thickness of 3.50 mm, with mintage capped at 50,000 per year for most recent years. Proof silver versions use 99.9% purity with mintages of 10,000 (2014-2015) rising to 20,000 from 2016 onward.

Wedge-Tailed Eagle Gold Tax Treatment

The .9999 fine gold purity and Australian legal tender status make the Wedge-Tailed Eagle gold coins eligible for investment gold tax exemptions across all major markets.

• Australia: GST-free as investment-grade gold under the GST Act 1999 (purity exceeds the 99.5% threshold). Capital gains are subject to CGT, with a 50% discount for individuals holding longer than 12 months.
• United Kingdom: VAT-exempt as investment gold (purity exceeds 995 thousandths). Not exempt from Capital Gains Tax because these are not UK legal tender. Gains are subject to CGT at the individual's rate (18% basic, 24% higher) after the annual GBP 3,000 allowance. UK buyers seeking CGT-free gold must choose UK legal tender coins such as the Britannia or Sovereign.
• United States: The .9999 purity qualifies for inclusion in a self-directed Precious Metals IRA under Section 408(m). The Mercanti connection makes these coins particularly popular with American collectors and IRA custodians. No federal sales tax; approximately 35 states exempt bullion from state sales tax. Capital gains are taxed at the collectibles rate of up to 28% for holdings over one year.
• Canada: GST/HST-exempt as investment-grade gold bullion exceeding the 99.5% purity threshold. Capital gains taxable at a 50% inclusion rate.
• Singapore: GST-exempt as an Investment Precious Metal under MAS rules (gold purity exceeds 99.5%).
• Hong Kong: No sales tax, no import duty, and no capital gains tax on bullion.

The Mercanti Connection and a Decade of Annual Designs

The series debuted on 7 January 2014 with a design depicting a wedge-tailed eagle in left profile, swooping toward a dead tree branch with wings partially extended. The obverse carried Ian Rank-Broadley's portrait of Queen Elizabeth II. For 2016, Mercanti created a new reverse showing a resting eagle perched on a tree after landing, driven by collector demand for variety. The practice of annual design changes has continued since.

From 2014, the silver bullion mintage was set at 50,000. This was lifted to unlimited for 2015 through 2017, then re-capped at 50,000 from 2018 onward. The early uncapped years are now less scarce on the secondary market, but the 2014 inaugural issue, with its original 50,000 cap, retains particular collector interest. Gold versions have been produced in smaller runs throughout, with high-relief proof editions commanding significant premiums.

The 2023 release marked the transition to a Queen Elizabeth II memorial obverse with dates "1952-2022," followed by the adoption of Dan Thorne's King Charles III portrait from 2025. The 2026 release introduced a historic first for the series: a dual-eagle design pairing the Australian wedge-tailed eagle with an American bald eagle on the same coin. This was the first time two eagles appeared together in the series, underscoring the connection between Australian and American numismatic traditions that the Mercanti collaboration represents.

Mercanti's involvement has created a natural crossover audience. The same engraver designed the heraldic eagle reverse of the American Silver Eagle, the world's most traded silver bullion coin. Collectors of American coinage who value Mercanti's legacy are drawn to the Wedge-Tailed Eagle, and NGC and PCGS frequently grade examples with special Mercanti signature labels that command their own premiums in the slabbed coin market.

Wedge-Tailed Eagle vs Other Perth Mint and International Gold

The Wedge-Tailed Eagle gold coin competes within both the Perth Mint's own range and the broader international market. Against the Perth Mint's flagship gold Kangaroo, the key differences are mintage and design philosophy. The Kangaroo has larger production runs and deeper liquidity, making it the stronger choice for buyers focused purely on gold exposure at the lowest premium. The Wedge-Tailed Eagle's lower mintages and Mercanti pedigree generate a collector premium that the Kangaroo does not command.

The connection to the American Silver Eagle is the series' most distinctive selling point. Mercanti designed the heraldic eagle reverse that has appeared on billions of American Silver Eagles, and his Wedge-Tailed Eagle work carries the same attention to anatomical detail and naturalistic posture. For collectors who already hold American Eagles, the Wedge-Tailed Eagle offers a thematic extension by the same artist. NGC and PCGS slabbed examples with Mercanti signature labels trade at notable premiums in the graded coin market.

Against the Perth Mint's Kookaburra and Koala, the Wedge-Tailed Eagle shares the annual design change model and .9999 purity. The differentiator is the internationally recognised designer and the lower mintage cap on the silver bullion version (50,000 versus the Kookaburra's 500,000). Among international competitors, the Mexican Libertad is another low-mintage government gold coin, but it uses .999 purity compared to the Wedge-Tailed Eagle's .9999.

The 2026 dual-eagle design, pairing the wedge-tailed eagle with an American bald eagle, further strengthens the cross-market appeal. For buyers who value both the gold content and the artistry behind it, the Wedge-Tailed Eagle offers a combination that few bullion series can match: a government-backed, high-purity coin designed by one of the most prolific engravers in modern minting history.