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CA$110
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About the 1 oz Chinese Myths and Legends Silver Coin
Perth Mint's Mythology-Themed Four-Nines Silver
The 1 oz Chinese Myths and Legends silver coin is an annual Perth Mint series featuring creatures and symbols from Chinese mythology, issued since 2017 as Australian legal tender. Each year's release carries a new design by a different Perth Mint engraver, creating a rotating gallery of mythological art: Dragon and Phoenix (2017), Dragon and Tiger (2018), Double Pixiu (2020), Phoenix (2022), Dragon and Koi (2023), Four Guardians (2024), and Double Phoenix (2025), among others.
The series is struck in .9999 fine silver, matching the purity of the 1 oz Silver Maple Leaf and exceeding the .999 used by most sovereign silver coins. Combined with annual mintages that have declined from 50,000 in the early years to 20,000 for the 2025 Double Phoenix, the series occupies a space between pure bullion and limited-edition collectible. The declining production numbers suggest that secondary market premiums on earlier issues will hold or increase.
LPM, a Hong Kong-based dealer, holds exclusive worldwide distribution rights for the series, an unusual arrangement for a sovereign mint. Perth Mint retails the coins directly only within Australia. This distribution model reflects the series' targeted positioning for Asian markets, where Chinese mythological themes carry deep cultural resonance. The coin has strong appeal in Hong Kong, China, and Singapore, markets where Hong Kong's zero-tax environment for precious metals provides an additional incentive.
Each design draws on specific mythological traditions. The Four Guardians (2024) depict the Azure Dragon, Vermilion Bird, White Tiger, and Black Tortoise, each guarding a cardinal direction and representing a season and one of the five Chinese elements. The Dragon and Koi references the legend that a koi swimming upstream through the Dragon Gate waterfall transforms into a dragon, a story that symbolises perseverance and transformation in Chinese culture.
Chinese Myths and Legends Silver Specifications
| Attribute | Value |
|---|---|
| Weight | 1 troy oz (31.107 g) |
| Purity | .9999 fine silver |
| Diameter | 40.9 mm (40.6 mm for pre-2019 issues) |
| Face value | $1 AUD |
| Finish | Brilliant Uncirculated |
| Legal tender | Australia (Currency Act 1965) |
| Security | Micro-laser engraved letter, Perth Mint "P" mintmark |
Annual Releases
| Year | Theme | Designer | Silver mintage |
|---|---|---|---|
| 2017/18 | Dragon and Phoenix | Ing Ing Jong | 50,000 |
| 2018/19 | Dragon and Tiger | Thomas Vaughan | 50,000 |
| 2019/20 | Double Dragon | Jennifer McKenna | 50,000 |
| 2020/21 | Double Pixiu | Ing Ing Jong | 50,000 |
| 2021/22 | Flaming Dragon | Natasha Muhl | 45,000 |
| 2022/23 | Phoenix | Lucas Bowers | 40,000 |
| 2023/24 | Dragon and Koi | Wade Robinson | 40,000 |
| 2024/25 | Four Guardians | Wade Robinson | 40,000 |
| 2025/26 | Double Phoenix | Lucas Bowers | 20,000 |
A limited-edition 10 oz silver version is also produced with a mintage of 888, a deliberate reference to Chinese numerology where the number 8 is associated with prosperity and good fortune. From 2021, the series expanded into coloured silver versions, antiqued finishes (introduced 2023), and high-relief proof variants with concave mirrored backgrounds. The diameter changed from 40.6 mm to 40.9 mm after 2019, a specification shift that may affect capsule compatibility for collectors spanning both periods.
The obverse transitioned from the Ian Rank-Broadley and Jody Clark portraits of Queen Elizabeth II to Dan Thorne's effigy of King Charles III on current issues. Gold versions (1 oz, .9999 fine, $100 AUD, mintage 5,000) are also produced annually.
Tax Treatment for the Chinese Myths and Legends Silver Coin
As Australian legal tender issued under the Currency Act 1965, the Chinese Myths and Legends benefits from sovereign coin treatment in most jurisdictions.
Australia
Investment-grade Perth Mint bullion coins are GST-free in Australia. The .9999 purity exceeds the .999 threshold for silver.
United States
The .9999 purity exceeds the IRS minimum of .999 for silver in precious metals IRAs. Combined with its status as a sovereign-issued legal tender coin, the Chinese Myths and Legends is IRA-eligible. State sales tax varies, with approximately 35 states exempting bullion purchases.
United Kingdom
Silver coins from non-UK mints attract 20% VAT on purchase. The coin is not CGT-exempt in the UK, as that exemption is reserved for UK legal tender coins. UK buyers seeking CGT-free silver should consider the 1 oz Silver Britannia or 1 oz British Lion.
Hong Kong and Singapore
Hong Kong imposes no sales tax, import duty, or capital gains tax on precious metals, making it one of the most tax-friendly jurisdictions for bullion. This is a key factor in LPM's role as the series' exclusive worldwide distributor. Singapore exempts Investment Precious Metals (silver at .999+) from GST; the coin's gold versions also qualify under IPM criteria. Neither jurisdiction imposes capital gains tax.
Canada
Silver at .995+ purity is exempt from GST/HST in Canada. The .9999 purity qualifies.
New Zealand
Fine silver bullion at .999+ purity is GST-exempt. The coin qualifies.
Chinese Myths and Legends vs Other Asian-Themed and Perth Mint Silver
Within Perth Mint's own range, the Chinese Myths and Legends competes most directly with the Silver Lunar series, which features Chinese zodiac animals on a 12-year cycle. The Lunar series has a longer track record and broader secondary market recognition. The Myths and Legends differentiates by drawing on mythological creatures rather than the calendar cycle, and by rotating designers to give each release a distinct artistic style.
Against the Chinese Panda from the China Mint, the Myths and Legends offers .9999 purity (vs the Panda's .999) and Australian legal tender status rather than Chinese yuan denomination. The Panda has a massive global collector following, annual design changes, and the backing of China's state mint. The Perth Mint series targets a narrower audience but benefits from Australia's established reputation for investment-grade bullion.
Compared to Perth Mint's ongoing bullion staples, the 1 oz Silver Kangaroo and 1 oz Silver Kookaburra, the Chinese Myths and Legends trades at higher premiums due to its lower mintage. The Kangaroo and Kookaburra are better suited for pure silver accumulation at minimum cost. The Myths and Legends appeals to buyers who want Perth Mint's sovereign quality combined with culturally significant designs and production numbers that create secondary market scarcity.
The declining silver mintages (from 50,000 to 20,000 over the series' run) are a notable trend. Early issues already command premiums above later releases, and the 2025 Double Phoenix at 20,000 coins is the most limited silver production in the series' history. For buyers interested in the collectible angle, earlier years with higher mintages may still represent relatively accessible entry points before further appreciation.
1 oz Chinese Myths and Legends Silver Coin: frequently asked questions
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The cheapest 1oz Chinese Myths and Legends silver coin we track is $77.74, currently 17.9% over the $65.90 silver spot price, available from Physical Metals. Prices vary by year and design, with earlier issues sometimes commanding higher premiums on the secondary market.
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The Chinese Myths and Legends series is an annual Perth Mint programme running since 2017. Each release features a different creature or symbol from Chinese mythology, including the Dragon and Phoenix, Pixiu, Dragon and Koi, and the Four Guardians. Silver coins are struck in .9999 fine silver with mintages ranging from 20,000 to 50,000 per design. Distribution outside Australia is handled exclusively through LPM in Hong Kong.
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Yes. Each 1oz Chinese Myths and Legends coin contains 1 oz of 999.9 fine silver, making it investment-grade bullion. Struck by the Perth Mint, these coins carry Australian legal tender status, confirming they meet the government's purity and manufacturing standards.