10 oz SilverNote Silver Coin

A Hybrid Bullion Format from Slovakia's Revived Mint

The 10 oz Pressburg Mint SilverNote is a deliberately unusual bullion product. Described by its maker as an amalgamation of a banknote, a coin, and a bar, it merges the legal tender status of a coin with the rectangular format of a bar and the artistic sensibility of a currency note. The result is a product category that Pressburg Mint calls a "coinbar," produced through a combination of traditional casting and modern laser engraving.

Each 10 oz SilverNote carries .9999 fine silver purity (four nines, marginally higher than the .999 standard used by most competitors), a face value of 25 NZD issued under the authority of Niue, a unique serial number laser-engraved on the surface, and a verifiable security code. The dimensions are 74mm x 46mm with 9.6mm thickness, making it compact relative to its 311g weight.

Pressburg Mint itself is based in Bratislava, Slovakia, and was revived in 2014 as a small family business. The name "Pressburg" is the historical German name for Bratislava, and the mint claims heritage dating to Celtic-era coin production in the 5th century BC, with formal minting established in the 14th century under Hungarian kings. The modern operation uses LBMA-accredited silver source materials and holds ISO 9001 certification.

For buyers, the SilverNote occupies a niche position in the silver market. It is not a commodity bullion product competing on premium alone. The limited mintages (1,000 pieces for the 2025 10 oz version), annual design changes, and unique format position it as collectible bullion with a distinct identity. The four-nines purity also qualifies it for precious metals IRAs in the US, where the .9999 standard exceeds the .999 minimum threshold.

SilverNote 10 oz Coinbar Specifications

Available SilverNote Sizes

Annual designs change each year, making consecutive releases collectible as a set. The coinbar format combines coin-like obverse elements (portrait, denomination, issuing authority) with bar-like reverse elements (serial number, weight, purity markings).

SilverNote Tax Treatment by Jurisdiction

The SilverNote's tax position is shaped by two factors: its Niue legal tender status and its .9999 silver purity. Niue is a self-governing state in free association with New Zealand, and its currency is tied to the New Zealand dollar. Many private mints use Niue as their issuing authority for legal tender status, including PAMP Suisse for some products.

• United Kingdom: Silver bullion attracts 20% VAT on purchase regardless of issuing authority. The SilverNote is not UK legal tender, so it is not CGT-exempt. UK buyers face both the VAT cost on acquisition and potential CGT liability on profitable disposal.
• United States: The .9999 purity exceeds the IRS .999 minimum for precious metals IRAs, making the SilverNote potentially IRA-eligible (subject to custodian acceptance of Niue-issued pieces). State sales tax varies; approximately 35 states exempt precious metals bullion.
• European Union: Pressburg Mint is based in Slovakia (EU member), so intra-EU shipping avoids customs duties. Silver is subject to local VAT rates (19% Germany, 20% France, 21% Netherlands). Some countries apply margin scheme to silver coins on the secondary market.
• Canada: Silver coins at .999+ purity that are or were legal tender qualify for GST/HST exemption. The Niue legal tender status should satisfy this requirement.
• Australia: Investment-grade silver at .999+ purity is GST-free. The four-nines purity comfortably exceeds the threshold.
• New Zealand: Silver at .999+ purity is GST-exempt. The Niue connection (free association with NZ) adds no additional tax advantage.
• Singapore: Silver at .999+ purity from qualifying mints is IPM-exempt from GST. Eligibility depends on whether Pressburg Mint appears on the MAS-approved list.
• Hong Kong: No sales tax, no import duty, no capital gains tax.

SilverNote vs Conventional 10 oz Silver Coins and Bars

The SilverNote competes in a category largely of its own making. No other major mint produces bullion in this specific banknote-bar-coin hybrid format. The closest parallels are PAMP Suisse's artistic rectangular bars and the Royal Mint's Celebration Bar range, but neither attempts the currency-note aesthetic or carries legal tender face values.

Against conventional 10 oz silver coins like the 10 oz Silver Britannia or 10 oz Perth Mint Kookaburra, the SilverNote carries significantly higher premiums. Its 1,000-piece mintage (for the 2025 edition) is a fraction of what sovereign mints produce, and the hand-finished laser engraving adds production cost. Buyers seeking the lowest premium per ounce of silver should look to mass-produced sovereign coins.

The .9999 purity is a genuine differentiator from the .999 standard used by most silver coins. In practice, the difference in silver content per ounce is negligible (0.09% more metal), but it meets more stringent purity thresholds in certain jurisdictions and appeals to buyers who value the highest available standard. The Canadian Maple Leaf is the most prominent .9999 silver bullion coin and serves as the benchmark at that purity level, though it offers no 10 oz denomination.

For liquidity, conventional sovereign coins will always be easier to sell. The SilverNote's niche appeal and limited dealer recognition mean that buyback options are more restricted than for a Britannia or Maple Leaf. Buyers should view this as collectible bullion where the resale route is through specialist dealers or collectors, not the commodity buyback programmes offered by mainstream bullion houses.