Birds of Prey Silver

Royal Canadian Mint Birds of Prey Silver Coins

The Birds of Prey series from the Royal Canadian Mint (RCM) is a completed four-coin silver bullion programme that ran from 2014 to 2015. Each coin contains 1 troy ounce of .9999 fine silver with a $5 CAD face value, matching the specifications of the standard Silver Maple Leaf. All four designs are by Emily Damstra, one of the most accomplished wildlife coin artists currently working, whose portfolio spans both RCM and US Mint commissions.

The four coins in the series are the Peregrine Falcon (February 2014), Bald Eagle (August 2014), Red-Tailed Hawk (February 2015), and Great Horned Owl (August 2015). Each depicts its subject in dynamic flight, typically in the act of hunting, with outstretched wings and extended talons. The BU versions were struck at a mintage of 1,000,000 per design, calibrated for bullion demand rather than collector scarcity.

The Birds of Prey followed the RCM's Canadian Wildlife Series (2011-2013) and used the same template: 1 oz .9999 silver, $5 face value, themed designs by a single artist, released over a two-year period. This format established the RCM's approach to limited-run thematic bullion, sitting between the perpetual Maple Leaf programme and lower-mintage collector issues.

On the secondary market, Birds of Prey coins trade near or slightly above standard Maple Leaf pricing. The series is not scarce enough for significant numismatic premiums given the 1,000,000-per-design mintage, but complete four-coin sets command a modest premium over individual coins. The coins are available from secondary market dealers in the US, Canada, and internationally.

Birds of Prey Technical Specifications

Release Schedule

The obverse features the Susanna Blunt portrait of Queen Elizabeth II. The first three coins share a standard inscription layout, with the fourth (Great Horned Owl) using a repositioned format with "2015" at the top and "D.G.REGINA" added to the right. A separate 2016 reverse proof version of the Peregrine Falcon was produced after the main series concluded.

One notable absence: the Birds of Prey coins do not include the RCM's micro-engraved maple leaf or radial line security features. These anti-counterfeiting measures were introduced on the standard Silver Maple Leaf in 2014 but were not applied to the Birds of Prey coins. Authentication relies on standard production quality, reeded edges, and the detailed engraving of the Damstra designs.

Tax Treatment of RCM Birds of Prey Coins

The Birds of Prey coins are Canadian legal tender at $5 CAD face value. At .9999 purity, they exceed the minimum requirements for tax exemption in most bullion-friendly jurisdictions.

In Canada, the coins are exempt from GST/HST as investment-grade silver bullion. The .9999 purity easily exceeds the .995 threshold set by the Excise Tax Act. Capital gains on sale are subject to the 50% inclusion rate. Coins purchased and sold for under $1,000 CAD may fall under the Listed Personal Property rule, in which case no capital gain or loss is reportable.

In the United States, the .9999 purity from a sovereign mint meets IRS Section 408(m) requirements for silver in self-directed IRAs. The coins are IRA-eligible. State sales tax varies, with most states exempting investment-grade precious metals. Capital gains are taxed at the collectibles rate of up to 28% for holdings exceeding one year.

In the United Kingdom, silver coins from the RCM are subject to 20% VAT on purchase. Pre-owned examples may qualify for the margin scheme from some dealers. There is no CGT exemption for UK residents, as this benefit applies only to UK legal tender coins. The Birds of Prey had limited UK distribution during their original run.

Australia exempts silver at .999+ purity from GST, and the .9999 Birds of Prey qualifies. New Zealand exempts fine silver at .999+ from GST. Singapore exempts qualifying silver coins from GST under the IPM scheme. Hong Kong has no sales tax on precious metals.

Emily Damstra's Raptors in Flight

The Birds of Prey series followed directly from the RCM's Canadian Wildlife Series (2011-2013), which had featured six Canadian mammals. The RCM chose to continue the same bullion format with a new theme, this time focusing on North American raptors. The decision to commission a single artist for all four designs, rather than using different designers for each coin, gave the series a visual cohesion that set it apart from the RCM's collector issues.

Emily Damstra, who designed all four reverses, is a Canadian-American wildlife artist whose coin work has appeared on products for both the RCM and the US Mint. Her Birds of Prey designs are widely regarded as among the finest wildlife renderings on modern bullion, capturing both anatomical accuracy and the kinetic energy of birds in flight. Each reverse shows its subject with outspread wings and extended talons, with intricate feather detail that rewards close examination.

The Peregrine Falcon, selected as the series opener, is the fastest animal on Earth, with dive speeds exceeding 386 km/h (240 mph). It is also one of Canada's most iconic raptors. The Bald Eagle, America's national symbol, crossed the border for this Canadian series. The Red-Tailed Hawk is the most commonly seen hawk in North America. The Great Horned Owl, the final coin, was depicted in an unusual front-facing flight pose that contrasts with the side-profile view used for the other three birds.

The series is known for a cosmetic issue that affected much of the RCM's silver production from this era: "milk spots." These white calcium or silver chloride deposits appear over time on the coin surface and are especially visible on the broad mirror-like fields of the design. The problem was not unique to the Birds of Prey; it affected the standard Maple Leaf and Canadian Wildlife Series as well. The RCM has since addressed the issue with improved planchet treatment on later production runs, but 2014-2015 vintage coins remain susceptible. Importantly, milk spots are purely cosmetic and do not affect the silver content or dealer buyback pricing.

Birds of Prey vs Maple Leaf and Other RCM Silver

The most direct comparison is the Silver Maple Leaf, which shares the same weight, purity, and face value. The Maple Leaf has no annual design variation, far higher annual mintage, and includes the micro-engraved security features that the Birds of Prey lack. For pure stacking, the Maple Leaf offers lower premiums and greater worldwide liquidity. The Birds of Prey trades at a small premium over the Maple Leaf, justified by the fixed-mintage collectibility and Emily Damstra designs.

The Canadian Wildlife Series (2011-2013), the Birds of Prey's direct predecessor, used the same format: 1 oz, .9999 silver, $5 CAD, themed designs. The Wildlife Series ran for six coins (Wolf, Grizzly, Cougar, Moose, Bison, Pronghorn) versus four for Birds of Prey. Both series have similar secondary market premiums. Collectors who completed one often pursued the other.

The Perth Mint Kookaburra is a comparable ongoing wildlife silver programme from another sovereign mint. The Kookaburra changes design annually with a higher mintage, producing more coins per year than the Birds of Prey's one-million-per-design run. Perth Mint coins are .999 purity (one step below the RCM's .9999) and benefit from the Perth Mint's strong Asian and Australian distribution networks.

The Austrian Philharmonic offers consistently low premiums as a sovereign mint 1 oz silver coin at .999 purity. The Philharmonic maintains the same design year after year and trades at some of the tightest spreads available for sovereign silver bullion. For buyers focused on cost per ounce, the Philharmonic typically undercuts both the Maple Leaf and the Birds of Prey.

The Birds of Prey's primary value on the secondary market is its completeness as a four-coin set with strong artistic merit. Individual coins compete with Maple Leafs at a slight premium. Complete sets appeal to collectors who want a defined, finished collection rather than an open-ended annual programme.