10 oz The Royal Mint Three Graces Silver Bar

William Wyon's Masterpiece on a 10 oz Silver Bar

The 10 oz Three Graces Silver Bar is part of The Royal Mint's Great Engravers collection, bringing one of the most celebrated designs in British numismatic history to the bullion bar format. The original Three Graces was a pattern coin created by William Wyon RA in 1817, depicting three female figures representing England, Scotland, and Ireland. The original pattern is one of the most valuable and desired pieces in all of British numismatics, with specimens selling at auction for six-figure sums.

The bullion bar range launched in 2022 after the 2020 proof coin versions created extraordinary secondary market demand, with resale values reaching up to 10 times the original issue price. The bar format was explicitly designed to make the iconic design accessible at bullion-grade premiums, rather than the extreme numismatic markups the proof coins command. Daniel Thorne adapted Wyon's classical composition for the rectangular bar format while maintaining the essential character of the original neoclassical grouping.

With a mintage of 6,100 pieces, the 10 oz silver bar is relatively scarce for a Royal Mint bullion product. This limited production positions it between pure bullion (unlimited mintage, lowest premiums) and numismatic collectibles (tiny mintage, large premiums). Buyers get a product with genuine scarcity and design heritage at a price point closer to metal value than the proof alternatives.

Three Graces 10 oz Silver Bar Technical Data

The Great Engravers Collection

The Three Graces is the second release in The Royal Mint's Great Engravers series, following the Gothic Crown (also by William Wyon). A third design, Una and the Lion (another Wyon masterpiece), was subsequently added to the collection. The series celebrates the artistic peak of 19th-century British coinage, reviving designs that have become legendary among collectors.

Other sizes in the Three Graces bar range: 1 oz gold (mintage 4,000), 1 oz silver (mintage 36,000), and 100 oz silver (mintage 1,200, LPM exclusive). The 10 oz occupies the middle ground in both size and scarcity.

Tax Treatment for the Three Graces Bar

As an undenominated bar with no face value, the Three Graces 10 oz silver bar is not legal tender. This is the defining characteristic for its tax treatment: it cannot qualify for CGT exemptions that apply to legal tender coins in the UK. The 2020 proof coin versions, which carry face values and legal tender status, do qualify for CGT exemption, making them significantly more tax-efficient for UK investors despite their higher purchase price.

• United Kingdom: Subject to 20% VAT on purchase. Not CGT-exempt (no face value, not legal tender). UK investors face both VAT on entry and CGT on any gains at disposal. This is the same treatment as all non-legal-tender silver bars.
• United States: No federal sales tax. State exemptions apply in most states. The 999 purity meets IRA thresholds. Capital gains taxed at the 28% collectibles rate. The limited mintage does not change the tax classification.
• Canada: GST/HST exempt at 99.9%+ purity in bar form.
• Australia: GST-free for investment-grade silver at 99.9%+ purity.
• European Union: Standard VAT applies. Investment silver bars do not receive the exemption that applies to investment gold.
• Singapore: GST-exempt under the IPM scheme (silver at 99.9%+ from recognised refiners). The Royal Mint qualifies.
• Hong Kong: No sales tax, no import duty, no capital gains tax.

From 1817 Pattern Coin to 2022 Bullion Bar

William Wyon was 22 years old in 1817 when he created the Three Graces design, recasting the daughters of Zeus from Greek mythology (Aglaea, Euphrosyne, and Thalia) as personifications of England, Scotland, and Ireland. The work drew on Antonio Canova's neoclassical sculpture "The Three Graces" and reflected the spirit of post-Napoleonic Britain celebrating its political union. Wyon would go on to become Chief Engraver at the Royal Mint from 1828 until his death in 1851, producing some of the most important coin designs in British history.

The 1817 pattern coin was never issued for circulation. Its rarity and artistic quality have made surviving specimens among the most sought-after items in British numismatics. When The Royal Mint revived the design in 2020 for the Great Engravers proof coin collection, the response was immediate and intense. The proof silver and gold coins sold out rapidly, and secondary market prices escalated to multiples of the issue price.

The 2022 bullion bar launch was The Royal Mint's response to that demand. By adapting the design to a bar format with larger (but still controlled) mintages, the Mint created an accessible entry point for buyers who wanted the design without the numismatic markup. Daniel Thorne's adaptation maintained Wyon's compositional balance while adjusting proportions for the rectangular format. The historical context of the design, celebrating the union of three nations at a moment of British ascendancy, gives the piece cultural significance beyond its silver content.