Asahi Lunar Silver

Asahi Refining's Zodiac Silver Bars and Rounds

The Asahi Lunar Calendar Series is an annual silver and gold bullion programme from Asahi Refining celebrating the Chinese zodiac, launched in August 2023 with the 2024 Year of the Dragon. The silver range includes both 1 oz bars and 1 oz rounds in .999 fine silver, sharing the same annual zodiac design but differing in format. Asahi has described this as "the first in what will be an ongoing series," indicating plans to continue through the full 12-year zodiac cycle through 2035.

Asahi Refining brings LBMA Good Delivery accreditation and COMEX approval to the lunar-themed bullion space, institutional credentials that most private-mint zodiac products lack. The company's refining heritage traces back to the 2015 acquisition of Johnson Matthey's gold and silver refining operations, giving it nearly 200 years of combined industry experience across facilities in Salt Lake City (Utah), Brampton (Ontario), and Miami (Florida). For US buyers specifically, IRA eligibility is confirmed, as the .999 purity and LBMA-accredited production meet the requirements for self-directed precious metals retirement accounts.

The series is positioned as a lower-premium alternative to sovereign mint lunar programmes. The Perth Mint Lunar series dominates this market with 25+ years of history, legal tender status, and established collector demand, but at correspondingly higher premiums. Asahi Lunar products provide zodiac-themed silver from a credible refiner at more accessible price points, with the dual format choice of bar or round giving buyers flexibility that many competing programmes do not offer.

Asahi Lunar Silver Specifications

Annual Releases

The obverse is shared across all products: the debossed Asahi Refining logo on a reverse-proof background, inscribed with "1 OUNCE TROY," "LUNAR CALENDAR SERIES," and "FINE SILVER .999." The annually changing reverse carries the zodiac design. The 2024 Dragon depicts a dragon entwined around a Cypress Tree, symbolising the Wood element of that year's zodiac cycle. The 2025 Snake shows a wise serpent hanging from a tree branch, accented with plum blossoms and lanterns representing good fortune.

The bar and round formats share the same reverse design for each year but differ in shape, obverse layout, and dimensions. Bars are available in tamper-evident assay card packaging or without packaging for tube and bulk purchases. Gold bars were introduced for the 2025 Snake year, expanding the series beyond its silver-only 2024 debut.

Tax Treatment for Asahi Lunar Silver

All Asahi Lunar silver products are private-mint bullion with no face value and no legal tender status. Tax treatment follows the general rules for silver bars and rounds in each jurisdiction.

In the United States, Asahi's LBMA Good Delivery and COMEX-approved status qualifies these products for self-directed precious metals IRA inclusion at .999 purity. Sales tax varies by state, with roughly 35 states exempting investment silver. Federal capital gains on silver are taxed at the 28% collectibles rate for long-term holdings.

In the United Kingdom, silver bars and rounds carry 20% VAT. There is no exemption for non-legal-tender silver. Capital gains tax applies on disposal at the individual's rate. The gold bars in the series, by contrast, are VAT-exempt as investment gold.

In Canada, the .999 purity exceeds the 99.9% GST/HST exemption threshold. Asahi has Canadian refining operations in Brampton, Ontario. Capital gains are taxed at a 50% inclusion rate. In Australia, .999 silver meets the 99.9% threshold for GST exemption on investment-grade precious metals. In Singapore, silver bars at 99.9%+ purity and at least 0.5 troy oz qualify as Investment Precious Metals (IPM), exempt from the 9% GST. Hong Kong imposes no sales tax or capital gains tax on precious metals. In South Africa, silver bullion carries 15% VAT with no exemption for non-gold products.

Asahi Lunar vs Perth Mint and Other Zodiac Silver

The Perth Mint Australian Lunar series is the benchmark for zodiac-themed silver bullion and the Asahi Lunar's most obvious competitor. Perth Mint Lunar coins are legal tender (denominated in Australian dollars), struck in .9999 fine silver (versus Asahi's .999), have been in continuous production since 1999 across three series iterations, and benefit from massive global collector demand. Premiums on Perth Mint Lunar silver run well above Asahi's pricing. The tradeoff is straightforward: Perth Mint offers sovereign backing, higher purity, and decades of established resale liquidity; Asahi offers comparable zodiac themes from an LBMA refiner at a more accessible price point.

The Royal Canadian Mint has produced Chinese zodiac-themed silver coins at similar premium levels to Asahi. PAMP Suisse's lunar-themed bars command higher premiums reflecting Swiss branding and the PAMP name's established position in the bar market. Asahi's LBMA credentials give it an edge over most other private-mint lunar products, but PAMP's longer track record in themed bars remains a differentiator for that specific segment.

The dual format offering (bar and round) is an advantage the Asahi Lunar series holds over some competitors. Many zodiac programmes offer only coins or only bars. Asahi's approach lets buyers choose their preferred format while maintaining the same annual zodiac design, which is useful for those assembling a multi-year collection in a consistent shape.

For buyers whose primary goal is silver at the lowest premium, generic rounds and bars from any refiner will undercut the Asahi Lunar series. The zodiac theme carries a modest premium over equivalent unthemed Asahi products. The series is best suited to buyers who want LBMA-grade zodiac silver without the substantial premium jump to sovereign mint lunar coins, and who plan to collect across multiple years of the 12-year zodiac cycle.