1 oz Lady Justice Silver Coin

Gibraltar's Annual Silver Bullion from Scottsdale Mint

The 1 oz Lady Justice is a .999 fine silver coin issued under the authority of the Government of Gibraltar and struck by Scottsdale Mint in Arizona. Launched in 2021, it is an annual series with the Lady Justice figure redesigned each year while maintaining the central theme. The silver version carries a £1 Gibraltar face value and is produced in both Brilliant Uncirculated and antique finishes, with a mintage set at 100,000 per year.

Lady Justice as a figure traces to the Greek goddess Themis and the Roman Justitia, and the coin pairs this classical symbolism with the Latin motto "Fides et Justitia" (Faith and Justice) inscribed on the obverse. The reverse displays the Royal Arms of the United Kingdom and the Gibraltar coat of arms, grounding the coin in Gibraltar's identity as a British Overseas Territory that uses the pound sterling.

The 100,000 annual silver mintage places the Lady Justice between mass-market sovereign bullion (millions of coins per year) and semi-numismatic collector issues (under 25,000). This positions it as collectible bullion: accessible enough that premiums stay competitive, scarce enough that secondary market interest persists year to year. Scottsdale Mint has built a niche striking coins for small territories and nations, with programmes for Gibraltar, Fiji, Congo, the Cayman Islands, and Barbados.

A gold version is also produced: 1 oz of .9999 fine gold in proof finish, limited to 2,000 coins per year with a £10 Gibraltar face value. The gold's genuine scarcity (2,000 is tight for any bullion product) may attract secondary market premiums, particularly for early years as the series matures. A 1/10 oz silver version has also been available in select years.

Lady Justice Coin Specifications and Design Timeline

The design evolves annually while keeping the Lady Justice figure and the "Fides et Justitia" motto as constants:

• 2021: Inaugural release. Lady Justice in a classical pose with blindfold, holding a sword in her right hand and scales in her left, standing on seven stars and mountains.
• 2022: Classical theme continues. The antique finish variant was introduced, using a chemical treatment to simulate age and create dramatic contrast in the design details.
• 2023: First significant design shift. Lady Justice moved further into the foreground with a front-facing stance, making her presence more commanding. The mountains recede into the background.
• 2024: Fresh design iteration continuing the annual evolution.

The proof gold coins arrive individually sealed in capsules attached to chipboard for secure delivery. The frosted design elements against mirrored fields serve as a visual authentication marker, though no advanced micro-engraving or hologram technology has been documented for this series.

Lady Justice Tax Treatment by Country

The Lady Justice is legal tender of Gibraltar, a British Overseas Territory. This status affects its tax treatment differently from UK Royal Mint legal tender.

• United Kingdom: Silver carries 20% VAT on purchase. Gold at .9999 purity qualifies for investment gold VAT exemption. Crucially, Gibraltar coins are not CGT-exempt in the UK. CGT exemption is reserved for UK Royal Mint legal tender (Britannias, Sovereigns) and coins from Crown Dependencies (like the Isle of Man Angel). Gibraltar's status as an Overseas Territory does not confer the same benefit. Standard CGT rates of 18-24% apply on disposal, with the £3,000 annual exemption.
• United States: No federal sales tax on bullion. State-level exemptions cover roughly 35 states. The gold coin's .9999 purity meets IRS requirements for inclusion in a self-directed precious metals IRA. The silver coin at .999 also meets the 99.9% IRA threshold.
• Gibraltar: The territory uses GBP and has its own tax regime. The coins carry a pound denomination.
• European Union: Gold coins at .995+ purity from recognised territories may qualify for investment gold VAT exemption under the EU directive. Silver is subject to local VAT rates in each member state.
• Canada: Silver at 99.9%+ purity with legal tender status qualifies for GST/HST exemption. Gold is exempt under the same provisions.
• Australia: Silver at 99.9%+ purity qualifies for GST exemption as investment-grade bullion. Gold at 99.5%+ is also exempt.
• Singapore and Hong Kong: Both offer zero-tax environments for qualifying bullion. Singapore's IPM scheme covers silver at 99.9% purity from qualifying issuers.

Lady Justice vs Britannia, American Eagle, and Other Scottsdale Programmes

The 1 oz Silver Britannia is the most relevant comparison for UK buyers. The Britannia has far higher brand recognition, unlimited mintage, advanced security features, and the critical advantage of CGT exemption in the UK. Lady Justice premiums are typically lower than Britannia premiums, but the absence of CGT exemption means UK investors pay tax on gains. For purely cost-focused silver stacking outside the UK, the Lady Justice's lower premium and attractive design make it competitive. Inside the UK, the Britannia's tax advantages are difficult to overlook.

Against the 1 oz American Silver Eagle, the Lady Justice cannot match the Eagle's global liquidity or deep US secondary market. The Eagle commands the highest premiums among standard government silver coins, supported by collector demand that has no equivalent for Gibraltar coinage. The Lady Justice trades at lower premiums, making it more attractive for buyers focused on silver weight rather than resale premium recovery.

Within Scottsdale Mint's own portfolio, the Lady Justice competes with the Cayman Islands Sea Life series (including the 1 oz Loggerhead Turtle), the Congo Silverback Gorilla, and various other territorial programmes. Lady Justice is Scottsdale's flagship Gibraltar programme and benefits from the clean, universally recognisable symbolism of justice. The 100,000 mintage is higher than most of Scottsdale's other programmes (the Loggerhead Turtle silver is limited to 50,000), making it more accessible.

The gold version's 2,000 annual mintage is genuinely limited. For comparison, the 1 oz Gold Britannia has effectively unlimited mintage, and even limited Royal Mint series like Tudor Beasts produce 5,000-10,000 gold coins per design. Collectors of low-mintage gold may find the Lady Justice gold proof attractive for this reason.