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| Product | /oz | Premium | Price | |
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| $89.58 | +36.18% |
$89.44
A$128
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About the 1 oz Humpback Whale Silver Coin
Royal Australian Mint Antarctic Territory Bullion
The 1 oz Perth Mint Humpback Whale silver coin is part of the Australian Antarctic Territory coin programme, carrying a face value of $1 AUD and legal tender status backed by the Australian government. The 2023 bullion issue comes from the Royal Australian Mint (RAM) rather than the Perth Mint, representing the second release in RAM's revived Antarctic Territory series following the Emperor Penguin. With a mintage of 25,000 pieces in .999 fine silver, it occupies the limited-issue tier below Australia's mass-produced bullion (Kangaroos, Kookaburras) but above the ultra-scarce proof market.
The Humpback Whale subject connects the coin to both environmental significance and an established numismatic tradition. The Perth Mint first featured the species on a 2008 silver proof (7,500 mintage) and a 2019 platinum 1/3 oz coin (25,000 mintage). RAM's 2023 bullion version made the design accessible at standard investment weights without proof pricing. The reverse depicts a group of humpback whales in their Antarctic habitat, with an adult breaching the surface above two others swimming below.
For Australian buyers in particular, government-issued coins from the RAM carry recognition and trust that private-mint alternatives cannot match. The coin's .999 purity qualifies it for GST-free treatment as investment-grade precious metal, and its status as Australian legal tender supports classification for retirement account purposes in multiple jurisdictions.
Humpback Whale 1 oz Silver BU Specifications
| Attribute | Value |
|---|---|
| Metal | .999 fine silver |
| Weight | 1 troy oz (31.1 g) |
| Diameter | 40 mm |
| Thickness | ~8.05 mm |
| Edge | Reeded |
| Face value | $1 AUD |
| Mintage | 25,000 |
| Mint | Royal Australian Mint (Canberra) |
| Year | 2023 |
The obverse features the Jody Clark portrait of Queen Elizabeth II with the inscription "ELIZABETH II, 1952-2022, AUSTRALIA, 2023" and denomination, representing one of the last uses of her likeness on Australian coinage before the transition to King Charles III. The reverse shows a composition of humpback whales with "AUSTRALIAN ANTARCTIC TERRITORY" and "HUMPBACK WHALE" inscriptions. Coins ship in individual protective capsules. A separate 1 oz gold BU version exists (.9999 fine, $100 AUD face value, mintage 250) and a coloured silver proof variant ($5 AUD face value) with presentation box and Certificate of Authenticity.
Tax Treatment for the Australian Humpback Whale Coin
As Australian government-issued legal tender in .999 fine silver, the Humpback Whale qualifies for investment-grade tax treatment in most major bullion markets.
- Australia: GST-free as investment-grade precious metal (.999 purity in coin form from a government mint). The coloured proof version may be classified differently as a collectible item, potentially attracting 10% GST. Capital gains tax applies on disposal; a 50% CGT discount is available for individuals holding over 12 months.
- United Kingdom: Silver coins are subject to 20% VAT regardless of issuing country or legal tender status (only investment gold is VAT-exempt in the UK). Australian coins are not CGT-exempt in the UK; that benefit is restricted to UK Royal Mint legal tender.
- United States: The gold version (.9999 sovereign-mint gold coin) is IRA-eligible. The silver version meets purity requirements (.999), and sovereign-mint status supports IRA custodian acceptance, though buyers should confirm with their specific custodian. No federal sales tax; state exemptions vary.
- Canada: GST/HST treatment depends on whether the coin qualifies under Canada's precious metals exemption (99.9% purity in coin form). The .999 purity meets this threshold.
- Singapore: Qualifies as IPM (Investment Precious Metal) at .999 purity in coin form, making it GST-exempt (0%).
- New Zealand: Fine silver bullion at 99.9% purity in coin form is GST-exempt.
Humpback Whale vs Other Australian Government Silver Coins
The Perth Mint Lunar series is the dominant Australian silver bullion coin with unlimited annual mintages regularly exceeding 300,000. It offers maximum liquidity and dealer availability, trading at modest premiums over spot. The Humpback Whale, at 25,000 pieces, will never approach that level of market penetration, but it offers scarcity that the Lunar cannot.
The Perth Mint Kookaburra (500,000 annual mintage) sits between the Lunar and the Antarctic Territory coins in terms of availability. It changes design annually like the Humpback Whale but in far higher numbers. For buyers who want an Australian government coin that is easy to buy and sell at tight spreads, the Kookaburra or Lunar are better choices. For buyers who value lower mintage numbers and a distinctive Antarctic wildlife theme, the Humpback Whale delivers both.
The gold version (250 mintage) is an entirely different product category. At that production level, the numismatic premium will substantially exceed the gold content value, making it a collector piece rather than an investment in gold weight. For buyers comparing 1oz silver coins across mints, the RAM Humpback Whale slots into the semi-numismatic tier: genuine investment bullion by composition and legal tender status, but with a mintage that creates scarcity-driven premiums above comparable mass-market sovereign coins.
1 oz Humpback Whale Silver Coin: frequently asked questions
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The lowest price we track for a 1oz Humpback Whale silver coin is $89.44 from Gold Secure, at around 36.2% over the silver spot price. Prices vary between dealers, so comparing before you buy can save a meaningful amount on a purchase.
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The current premium for the 1oz Humpback Whale silver coin is around 36.2% over the $65.79 silver spot price. Wildlife-themed coins from government mints like these typically carry a slightly higher premium than generic silver rounds because of their legal-tender status and lower mintages.
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The Humpback Whale coin is part of the Australian Antarctic Territory coin program, which celebrates the wildlife of Australia's Antarctic region. Earlier versions (2008) were issued by the Perth Mint; later bullion editions (2023) came from the Royal Australian Mint. Both are .999 fine silver, carry face values denominated in Australian dollars, and are legal tender in Australia. The 2023 silver bullion edition had a mintage of 25,000.
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VAT and GST treatment on silver bullion coins varies by country. In the UK, silver coins carry 20% VAT regardless of their legal-tender status, as only gold qualifies for the UK's investment-gold exemption. In Australia, qualifying investment silver coins are generally GST-free at 0%. In Canada, GST applies to silver coins. Check the rules for your own country before purchasing.