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$81.18 |
+22.90%
+47% inc.VAT
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$81.04
£73 inc.VAT
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About the 1 oz Rwanda Lunar Silver Coin
The 1 oz Rwanda Lunar Silver Coin
The Rwanda Lunar Ounce is an annual legal tender silver coin based on the Chinese zodiac, struck in .999 fine silver at one troy ounce and backed by the National Bank of Rwanda. The series launched in 2017 with the Year of the Rooster and is scheduled to complete a full twelve-year zodiac cycle in 2028 with the Year of the Monkey, which makes a complete set an achievable target for collectors who buy one coin per year.
The reason to pick this coin over the better-known lunar programmes is its signature finish. Each zodiac animal is rendered in a distinctive cracked-ice technique: the animal's body appears as a mosaic of angular tiles, somewhere between stained glass and shattered ice, blending frosted and mirrored surfaces. No competing lunar programme from Perth, the Royal Mint, the Royal Canadian Mint, or PAMP uses a comparable surface treatment, so the coin is instantly recognisable in hand.
Mintages are deliberately kept low to protect collector value. The 2026 Horse issue was limited to 1,000 silver pieces, an unusually tight figure for a 1 oz silver bullion coin. That scarcity positions the Rwanda Lunar as the most collector-oriented of the major lunar series, in contrast to high-mintage bullion staples in the 1 oz silver coin class. Buyers wanting maximum liquidity at the lowest premium should look at mainstream sovereign coins instead; buyers wanting a scarce, visually distinctive legal tender coin will find this series hard to match.
Rwanda Lunar 1 oz Silver Specifications
| Attribute | Value |
|---|---|
| Metal | Silver, .999 fine |
| Weight | 1 troy oz (31.103 g) |
| Diameter | 40 mm |
| Thickness | 3 mm |
| Edge | Reeded |
| Face value | 50 Rwandan Francs (RWF) |
| Finish | Brilliant Uncirculated |
| Manufacturer | BH Mayer's Kunstprageanstalt, Munich |
The obverse carries the coat of arms of the Republic of Rwanda, a traditional dwelling flanked by two warrior shields, with Kinyarwanda inscriptions identifying the National Bank of Rwanda and the denomination. The reverse shows the year's zodiac animal in the cracked-ice finish, surrounded by the inscriptions LUNAR OUNCE, YEAR OF THE animal, the date, and the weight and purity. The 50 RWF face value is purely nominal, worth roughly four US cents, far below the coin's silver content.
The series also exists as a 1 oz gold coin (100 RWF face value) and a 1 oz platinum coin, the latter with mintages as low as 88 pieces in some years. Some years have added a 2 oz silver proof alongside the standard 1 oz Brilliant Uncirculated issue.
Rwanda Lunar Silver Tax Treatment by Country
As a .999 fine legal tender silver coin, the Rwanda Lunar qualifies for the main investment bullion exemptions where they exist for silver, but its tax position varies sharply by country.
- UK: Silver carries 20% VAT on new coins; some dealers offer pre-owned examples under the VAT margin scheme, where VAT applies only to the dealer's margin. The coin is not UK legal tender, so it is not CGT-exempt; gains are taxable above the annual allowance.
- US: No federal sales tax; most states exempt bullion, some tax it or apply thresholds. At .999 purity the silver version meets the IRS 99.9% requirement for IRA eligibility.
- Canada: GST/HST exempt, since coins refined to at least 99.9% purity qualify for the federal exemption.
- Australia: GST-free as investment-grade silver at or above 99.9% purity.
- New Zealand: GST-exempt; silver qualifies at 99.9% purity or higher.
- Singapore: Qualifying Investment Precious Metals are GST-free, and there is no capital gains tax.
- EU: Silver coins attract full local VAT (17-27% depending on member state); Germany and the Netherlands operate margin schemes for pre-owned silver coins.
- Hong Kong: No sales tax, no import duty, no capital gains tax.
A German-Minted Zodiac Series for Rwanda
The Lunar Ounce launched in 2017 with the Year of the Rooster and runs one design per year through the Chinese zodiac: Dog (2018), Pig (2019), Rat (2020), Ox (2021), Tiger (2022), Rabbit (2023), Dragon (2024), Snake (2025), and Horse (2026), with the Goat and Monkey expected to close the cycle in 2027 and 2028. Each animal is shown in a dynamic pose suited to the species, the 2020 rat standing on its hind legs, the 2026 horse at full run.
The coins are struck by BH Mayer's Kunstprageanstalt GmbH, a Munich mint that has been producing coins since 1871 and serves several African issuing nations. Rwanda licenses its legal tender status to the mint, and the zodiac theme was chosen for its global collector appeal rather than any Rwandan cultural connection. The series' German roots show in the European market, where the Ruanda spelling is common and where Rwanda's parallel Wildlife series has been popular since 2008. Rwanda also issues a Nautical Ounce programme alongside the Lunar and Wildlife coins.
The cracked-ice finish has been the series' constant since launch, and the intentionally small mintages across silver, gold, and platinum have kept it a collector product rather than a volume bullion line. The 2026 Horse's 1,000-piece silver mintage may make it one of the scarcest modern silver bullion coins.
Rwanda Lunar vs Perth, Royal Mint, and RCM Lunar Coins
Against the Perth Mint Lunar series, the benchmark zodiac programme, the Rwanda coin trades liquidity for scarcity. Perth coins use traditional photorealistic engraving, are minted in much larger numbers, and enjoy the widest availability and market recognition of any lunar series. The Rwanda Lunar answers with the cracked-ice finish and far tighter mintages. Perth is also one of the few rival programmes to offer a platinum lunar coin, something Rwanda matches with platinum mintages that have dropped as low as 88 pieces.
The Royal Mint Lunar (Shengxiao) series has one decisive advantage for one audience: it is UK legal tender and therefore CGT-exempt for UK investors, an advantage the Rwanda coin cannot offer. Its design language is more contemporary and Asian-influenced, against Rwanda's mosaic treatment.
The Royal Canadian Mint runs its own zodiac series with higher mintages and lower premiums, making it the cheaper way into lunar-themed silver. PAMP produces lunar-themed bars and rounds, a different format without legal tender status, and Asahi offers private-mint lunar rounds.
The practical decision is straightforward. Buyers stacking silver coins for metal content at the lowest cost should choose a high-mintage sovereign coin. Buyers who want a legal tender zodiac coin with genuine scarcity and a finish no other mint replicates are the Rwanda Lunar's natural market.
1 oz Rwanda Lunar Silver Coin: frequently asked questions
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The cheapest offer tracked across 1 dealer is $81.04 from Silver Trader, roughly 22.9% over the silver spot price. Prices vary by year (each annual zodiac issue is a separate product), so check the comparison table for the specific animal you want.
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Each coin weighs 31.1035 g of 999.9 fine silver and is struck by B.H. Mayer in Munich, Germany, under authorisation from the National Bank of Rwanda. The coin measures 40mm in diameter with a reeded edge, carries a face value of 50 Rwandan Francs, and is issued in Brilliant Uncirculated condition.
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Avoid cleaning silver coins. Cleaning removes the natural toning that develops on silver surfaces and can leave hairline scratches visible under light, reducing both aesthetic appeal and resale value. If storage is your concern, keep coins in their original capsules or airtight holders away from humidity and sulphur-containing materials, which accelerate toning.
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Check weight (31.10g) and diameter (40mm) against a calibrated scale and calipers. A genuine .999 silver coin produces a clear, sustained ring when balanced and tapped (the "ping test"); base-metal fakes sound dull. Examine the signature "cracked ice" mosaic finish on the animal: the complex frosted and mirrored surface texture is difficult to replicate accurately. Buying only from reputable dealers tracked on this site gives a further layer of assurance.