Chinese Myths and Legends Silver

Perth Mint's Chinese Myths and Legends Silver Series

The Chinese Myths and Legends series from the Perth Mint brings Chinese mythological creatures to .9999 fine silver bullion. Launched in 2017 with the Dragon and Phoenix design, the series has released nine editions through 2025, each featuring a different creature or combination drawn from Chinese cultural tradition. The coins are Australian legal tender with a $1 AUD face value, struck in both 1 oz and limited-edition 10 oz formats.

Perth Mint positioned this series specifically for Asian markets. LPM, a Hong Kong-based dealer, holds exclusive worldwide distribution rights, an arrangement that is unusual for a sovereign mint. Most Perth Mint products flow through a broad dealer network, but the Myths and Legends series reaches international markets primarily through LPM and authorised resellers. This focused distribution, combined with declining mintages (from 50,000 down to 20,000 for the 1 oz silver), has kept secondary market premiums relatively firm for earlier releases.

The four-nines purity places these coins at the top of the silver purity scale, matching the Canadian Silver Maple Leaf and exceeding the .999 standard used by the American Silver Eagle, Silver Britannia, and Silver Philharmonic. Each release features a new designer from the Perth Mint's engraving team, giving every edition a distinct artistic interpretation rather than a house style applied uniformly across years.

The mythological subject matter sets this series apart from zodiac-based lunar programs. Rather than cycling through the twelve animals of the Chinese calendar, the Myths and Legends series draws on a deeper well of Chinese cultural symbolism: dragons and phoenixes representing yin and yang, Pixiu guardian lions that attract wealth, the Dragon Gate legend where a koi transforms into a dragon, and the Four Guardians of the cardinal directions. This approach gives each release a standalone narrative identity that zodiac coins, by their cyclical nature, cannot match.

Myths and Legends Denominations and Dimensions

Annual Releases and Mintages

The 10 oz silver editions carry a mintage limit of 888 pieces, a deliberate reference to the number eight's significance in Chinese culture, where it symbolises prosperity and good fortune. The diameter shift from 40.6 mm to 40.9 mm after 2019 is a minor but notable specification change that may affect capsule compatibility for collectors spanning both periods.

Each coin incorporates a micro-laser engraved letter as an authentication element, requiring magnification to detect. The Perth Mint's 'P' mintmark appears on the reverse. The obverse has transitioned from the Ian Rank-Broadley and Jody Clark portraits of Queen Elizabeth II to the Dan Thorne effigy of King Charles III on current issues.

Tax and Legal Status of the Chinese Myths and Legends Series

As Australian legal tender under the Currency Act 1965, the Chinese Myths and Legends coins qualify for favourable tax treatment in several jurisdictions. The .9999 silver purity exceeds the investment-grade thresholds set by all major bullion-trading countries.

Australia: Investment-grade Perth Mint bullion coins are GST-free. The Myths and Legends series qualifies under the precious metals GST exemption (silver at 99.9% purity or above in coin form). No capital gains tax discount applies unless the coins are held for more than 12 months, in which case individuals receive a 50% CGT discount.

United States: The .9999 purity and sovereign mint origin make these coins IRA-eligible. Buyers can hold them in a self-directed Precious Metals IRA through an approved custodian. Capital gains are taxed at the collectibles rate of up to 28% federally. State sales tax varies; most states exempt investment-grade bullion.

United Kingdom: Silver coins are subject to 20% VAT regardless of origin or legal tender status. The Myths and Legends coins are not CGT-exempt in the UK, as CGT exemption applies only to UK legal tender coins. Gold versions of the series would be VAT-free as investment gold meeting the 99.5% purity threshold.

Canada: At .9999 purity, these coins comfortably exceed the 99.9% GST/HST exemption threshold. Canadian buyers pay no purchase tax on this series.

Singapore: The gold versions qualify as Investment Precious Metals (IPM) and are GST-exempt. For silver, coins must meet the 99.9% purity threshold and be or have been legal tender. The .9999 fine silver coins, as Australian legal tender, should qualify for IPM status and GST exemption.

Hong Kong: No sales tax, import duty, or capital gains tax applies. Hong Kong's role as the series' primary distribution hub (through LPM) reflects these tax advantages. Buyers in Hong Kong face no tax friction on either purchase or disposal.

New Zealand: Fine silver at 99.9% purity or above is GST-exempt. The .9999 purity qualifies. No capital gains tax applies in New Zealand.

South Africa: Silver bullion is subject to 15% VAT. No exemption exists for foreign legal tender silver coins. Only gold Krugerrands receive VAT zero-rating in South Africa.

From Dragon and Phoenix to Four Guardians

The Perth Mint launched the Chinese Myths and Legends series in 2017 with the Dragon and Phoenix design by Ing Ing Jong. The pairing of dragon and phoenix is one of the most potent symbols in Chinese culture, representing the union of yin and yang and the balance of male and female energies. This inaugural release set the tone for the series: each edition would draw on a specific mythological concept rather than simply depicting an animal.

The early releases explored variations on the dragon theme. Dragon and Tiger (2018, Thomas Vaughan) paired two powerful creatures. Double Dragon (2019, Jennifer McKenna) depicted a symmetrical pair. These first three editions were produced with 50,000-piece silver mintages, establishing the series as mid-range between mass-produced sovereign bullion and limited collector issues.

The Double Pixiu release (2020, Ing Ing Jong) marked the first departure from dragon-centric designs. Pixiu are mythical winged lions believed to attract and protect wealth, making them a fitting subject for a bullion coin. The Flaming Dragon (2021, Natasha Muhl) and Phoenix (2022, Lucas Bowers) continued the mythological exploration with progressively lower mintages, dropping from 50,000 to 45,000 and then 40,000.

The Dragon and Koi edition (2023, Wade Robinson) drew on one of China's most enduring legends: the "Dragon Gate" tale, in which a koi swimming upstream through the waterfall at Dragon Gate transforms into a dragon. This story is the origin of the Japanese koinobori (carp streamers) flown on Children's Day. The design depicts the koi and dragon sharing a pearl, the symbol of wisdom, connected by a moon bridge representing purity.

The Four Guardians (2024, Wade Robinson) is the most conceptually ambitious release to date. It depicts all four celestial guardians of Chinese cosmology: the Azure Dragon of the East (representing spring), the Vermilion Bird of the South (summer), the White Tiger of the West (autumn), and the Black Tortoise with Snake of the North (winter). Each guardian corresponds to a cardinal direction, a season, and one of the five Chinese elements.

A documented production variant exists on the 2017 Dragon and Phoenix silver coin. An estimated 1,000 to 10,000 of the 50,000 total pieces show polished areas behind the Phoenix's neck where the intended matte finish was not applied. This variety has attracted collector interest and commands a small premium on the secondary market.

From 2021 onward, the Perth Mint expanded the series beyond standard Brilliant Uncirculated into coloured silver versions, antiqued finishes (introduced 2023), and high-relief proof variants with concave mirrored backgrounds. The 2025 Double Phoenix release dropped the silver mintage to 20,000, the lowest in the series, potentially signalling stronger secondary market value for later editions.

Myths and Legends vs Other Chinese-Themed Silver Series

The Chinese Myths and Legends series competes in a crowded field of Chinese-themed silver bullion. The key alternatives each bring different strengths, and the right choice depends on the buyer's priorities: purity, tax status, liquidity, collectibility, or price.

The Perth Mint Lunar series is the most direct competitor within the Perth Mint's own catalogue. Running since 1996 across three complete zodiac cycles, the Lunar series has a longer track record, higher secondary market recognition, and broader dealer availability. Both series share .9999 purity and Australian legal tender status. The Lunar series uses zodiac animals; the Myths and Legends series uses mythological creatures and cultural symbols. For buyers who want the Perth Mint pedigree with maximum liquidity, the Lunar series has the edge. For those drawn to mythology and more limited mintages, the Myths and Legends offers a less common alternative.

The Chinese Silver Panda from China Mint is the premier Chinese-origin silver coin. It carries legal tender status (10 Yuan denomination), annual design changes, and a massive global collector following. The Panda's purity is .999 (three nines), one step below the Myths and Legends' .9999. Perth Mint's Australian legal tender status gives it advantages in jurisdictions like the US (IRA eligibility) and Singapore (IPM qualification) that the Chinese-issued Panda does not always share.

The Canadian Silver Maple Leaf matches the .9999 purity and adds the Royal Canadian Mint's MicroEngraved security features. The Maple Leaf is the highest-purity mass-produced sovereign silver coin, with broad global liquidity and consistently competitive premiums. It does not have a thematic connection to Chinese culture, but for buyers focused purely on purity and resale ease, the Maple Leaf is a strong alternative.

The Emirates Gold Chinese Lunar series targets a similar cultural market from Dubai. At .999 purity without legal tender status, it trades at lower premiums but offers less international recognition and no tax advantages tied to sovereign coin status. The Emirates Gold range does offer an unusually wide selection of weights and formats that the Perth Mint series cannot match.

The Myths and Legends series occupies a specific position in this landscape: sovereign-mint quality and legal tender status combined with mythological depth, limited mintages, and the Perth Mint's security features. Its primary trade-off is narrower distribution through the LPM exclusive arrangement, which can make sourcing more difficult than widely distributed alternatives like the Maple Leaf or Philharmonic.