10 oz Myths and Legends Silver Coin

The Royal Mint's CGT-Free 10 oz Silver

The 10 oz Myths and Legends coin is one of a small number of large-format silver pieces that carry UK legal tender status, giving British buyers an important tax advantage: exemption from Capital Gains Tax on any profit at disposal. At 89mm diameter and 6mm thick, it is a substantial piece of 999.9 fine silver from The Royal Mint, carrying a GBP 10 face value.

The Myths and Legends series launched in 2021, drawing on British folklore through three themed collections: Robin Hood (2021-2022), King Arthur (2023-2024), and Beowulf (2024-2025). Each collection consists of three coins depicting characters from the legend. The 10 oz format is available for selected designs within these collections, offering the CGT exemption at a weight where per-ounce premiums are more competitive than the 1 oz version.

For UK investors specifically, the CGT exemption is the defining feature. A 10 oz silver position that appreciates significantly in value can be sold without any capital gains liability, regardless of the gain size. This is the same exemption that applies to 1 oz Silver Britannias and gold Sovereigns, extended here to a larger silver format. Combined with the 999.9 purity (matching the Britannia standard), the 10 oz Myths and Legends functions as a tax-efficient way to hold substantial silver positions within the UK tax system.

Outside the UK, the coin is simply a well-made 10 oz silver piece from a respected sovereign mint. The themed designs provide some collector interest, but without the CGT exemption, buyers in other jurisdictions may find the 10 oz Noah's Ark more cost-effective for straightforward silver accumulation.

Myths and Legends 10 oz Technical Specifications

The 999.9 purity is the highest standard available in silver bullion, shared with the Canadian Maple Leaf and Perth Mint's Emu series. This is one step above the .999 used by most competing 10 oz coins including the Austrian Philharmonic, Armenian Noah's Ark, and Czech Lion. The practical investment difference is negligible, but it represents a quality benchmark.

The 89mm diameter makes this one of the largest bullion coins by physical size at 10 oz. For comparison, the Perth Mint Lunar 10 oz silver uses a 75.5mm diameter and the Noah's Ark 10 oz measures 63mm (or 75mm depending on denomination). The larger diameter with relatively thin profile (6mm) produces a coin with significant visual presence.

Security features are limited compared to the Britannia (which has surface animation and tincture security from 2021). The Myths and Legends series relies on Royal Mint striking quality, milled edge finishing, and dealer authentication rather than proprietary anti-counterfeiting technology. The coin's substantial size and weight make counterfeiting uneconomical.

UK CGT Exemption and International Tax Treatment

The primary tax advantage of the 10 oz Myths and Legends is Capital Gains Tax exemption for UK residents. This applies because the coin is UK legal tender, the same criterion that makes Sovereigns and Britannias CGT-free.

• United Kingdom (CGT): Fully CGT-exempt. Any profit on disposal is not subject to Capital Gains Tax regardless of the gain amount. This applies to all UK legal tender coins with a sterling face value. The current annual CGT allowance is just GBP 3,000, so for silver positions above this threshold, the exemption provides genuine tax savings.
• United Kingdom (VAT): Silver coins are subject to 20% VAT on purchase. The Royal Mint sells directly at full VAT. Secondary market pieces may be available under the margin scheme from certain dealers, where VAT is charged only on the dealer's profit margin. Gold versions of Myths and Legends coins are VAT-free.
• United States: Not US legal tender. No CGT exemption applies. The .9999 purity exceeds IRS requirements for silver IRA eligibility (.999 minimum), and the sovereign mint origin supports custodian acceptance. State sales tax varies. Capital gains taxed at the 28% collectibles rate.
• European Union: Gold versions are VAT-exempt as investment gold (Royal Mint gold coins appear on the EU annual exemption list). Silver is subject to local VAT rates. Margin scheme may apply to secondary market pieces in some EU countries.
• Canada: Standard bullion tax treatment. The .9999 purity exceeds the 99.9% threshold for GST/HST exemption.
• Australia: Gold is GST-free. Silver at 99.9%+ purity from a sovereign mint qualifies as GST-free investment-grade precious metal.
• Singapore and Hong Kong: Hong Kong has no sales tax. Singapore's IPM exemption covers qualifying silver coins at 99.9%+ purity.

The CGT exemption is most valuable for UK residents holding silver as a long-term investment. If silver prices double over a holding period, the tax saved on a 10 oz position can be significant. This advantage is unique to UK legal tender and cannot be replicated by any foreign-issued coin regardless of its quality or purity.

From Sherwood Forest to the Old English Epic

The Myths and Legends series represents The Royal Mint's expansion into themed bullion collections beyond the flagship Britannia. Launched in 2021, it follows the model established by the Queen's Beasts series (2016-2021) and continued by the Tudor Beasts (2023 onwards), offering collectors a narrative arc across multiple coins while maintaining the practical benefits of legal tender bullion.

The first collection chose Robin Hood as its subject, the most internationally recognisable figure from British folklore. The legend dates back approximately 800 years, with the earliest known literary reference appearing in William Langland's Piers Plowman (c. 1377). The three coins depict Robin Hood (2021), Little John (2022), and Maid Marian (2022), all designed by Jody Clark, the Royal Mint engraver responsible for the most recent Queen Elizabeth II coinage portrait. Maid Marian is portrayed as an active warrior among the Merry Men rather than a passive character, reflecting modern reinterpretation of the legend.

The second collection moved to Arthurian legend: King Arthur (2023), Merlin (2023), and Morgan Le Fay (2024). The third draws from the oldest surviving long poem in Old English, Beowulf (c. 700-1000 AD): Beowulf and Grendel (2024), Beowulf and Grendel's Mother (2025), and Beowulf and The Dragon (2025). The Beowulf collection represents the most ancient source material in the series.

The obverse portrait transitioned from Jody Clark's Queen Elizabeth II (Robin Hood and early King Arthur coins) to Martin Jennings' King Charles III (Morgan Le Fay onwards). This makes the Robin Hood, Little John, Maid Marian, King Arthur, and Merlin designs the only Myths and Legends issues bearing the late Queen's portrait, which may add numismatic interest over time.

10 oz Myths and Legends vs Other 10 oz Silver Coins

The 10 oz Myths and Legends competes in a small field of sovereign-issued 10 oz silver coins. Its competitive position depends heavily on the buyer's tax jurisdiction.

For UK residents, no other 10 oz silver coin offers CGT exemption. The 10 oz Noah's Ark, 10 oz Czech Lion, and Perth Mint Lunar 10 oz all carry foreign legal tender status and are therefore subject to CGT in the UK. A UK buyer expecting to hold silver long-term and sell at a profit faces a choice between lower entry premiums (Noah's Ark) and zero exit tax (Myths and Legends). The break-even calculation depends on the eventual gain.

The Silver Britannia range does not currently include a 10 oz bullion coin, making the Myths and Legends the primary option for UK buyers wanting CGT-free silver above 1 oz in coin form from The Royal Mint. The 10 oz Valiant existed briefly but is from a different series.

Outside the UK, the comparison shifts. The 10 oz Noah's Ark typically offers the lowest premium for sovereign 10 oz silver, with margin scheme VAT treatment further reducing costs in the UK and EU. The Czech Lion offers superior visual appeal through its high-relief striking and hologram security. The Perth Lunar provides access to the Chinese zodiac collecting theme with strong secondary market demand in Asia-Pacific.

The 999.9 purity gives the Myths and Legends a minor technical edge over the .999 coins (Noah's Ark, Czech Lion), though this rarely affects pricing or liquidity. The 89mm diameter is the largest in this comparison, producing a visually impressive piece, but also means it will not fit standard 10 oz coin capsules designed for smaller formats.