1 oz Wedge-Tailed Eagle Silver Coin

Mercanti's Perth Mint Masterpiece

The 1 oz Wedge-Tailed Eagle Silver Coin is a Perth Mint bullion release designed by John M. Mercanti, the 12th Chief Engraver of the United States Mint. This was the first time a former US Mint Chief Engraver designed a coin for a foreign mint, and Mercanti described the collaboration as "one of the highlights of my career." The coin launched on 7 January 2014 and features a new eagle design each year.

The connection to Mercanti is the series' defining feature. Mercanti created the heraldic eagle reverse on the American Silver Eagle, the world's most traded silver bullion coin. His involvement gives the Wedge-Tailed Eagle unique crossover appeal with American collectors who recognise and value his work. NGC and PCGS frequently grade these coins with special Mercanti signature labels, which command additional premiums in the slabbed coin market.

Struck in .9999 fine silver with a face value of A$1, the coin is Australian legal tender under the Currency Act 1965. The wedge-tailed eagle (Aquila audax) is Australia's largest bird of prey and one of the largest eagles in the world, with a wingspan reaching 2.3 metres. It serves as a national symbol of freedom and strength, depicted across Australian culture and heraldry.

The mintage is capped at 50,000 coins per year for the bullion version (2014 and 2018 onward; unlimited for 2015-2017). This tight cap is a fraction of the Perth Kangaroo's unlimited mintage, placing the Wedge-Tailed Eagle closer to collector-bullion territory. The initial 2014 run of 50,000 sold out rapidly, prompting the Perth Mint to switch to unlimited mintage for three years before reverting to the 50,000 cap.

Wedge-Tailed Eagle Silver Coin Specifications

Design Timeline

The 2026 release is a historic first for the series: two eagles (an Australian wedge-tailed eagle and an American bald eagle) appear together on the coin, directly uniting the two national symbols and Mercanti's American and Australian numismatic work. This cross-national design reflects the unique provenance of the series as the only major sovereign bullion coin designed by a former foreign mint chief engraver.

High-relief proof versions are also produced alongside the bullion strikes, with mintages of 10,000-20,000 depending on the year. The inaugural 2014 gold high-relief proof had only 1,000 coins minted, making it one of the rarest modern Perth Mint releases. The proof versions are struck at .999 purity rather than .9999, a distinction from the bullion version that collectors should note. John M. Mercanti has produced more coin and medal designs than any employee in US Mint history (over 100 as of 2006), and personally signs NGC and PCGS slabbed examples of the Wedge-Tailed Eagle, which command significant premiums in the certified coin market.

Wedge-Tailed Eagle Tax Treatment by Country

As Australian legal tender in .9999 fine silver, the Wedge-Tailed Eagle follows standard investment-grade silver tax treatment in most jurisdictions.

• Australia: Gold versions are GST-free (99.5%+ purity). Silver at .9999 exceeds the 99.9% threshold for investment-grade GST-free treatment. Capital gains tax applies on disposal, with the 50% discount for holdings over 12 months. Available directly from the Perth Mint.
• United Kingdom: Gold is VAT-exempt as investment gold. Silver is subject to 20% VAT. Not CGT-exempt (not UK legal tender). The margin scheme applies to pre-owned silver examples. For UK buyers seeking CGT-exempt silver, the Silver Britannia or Silver Royal Arms are the options.
• United States: The .9999 purity exceeds the .999 IRA minimum for silver. Particularly popular with US collectors due to the Mercanti connection. Capital gains taxed at the 28% collectibles rate. Sales tax varies by state.
• Canada: GST/HST exempt for silver at .995+ purity. Standard capital gains treatment.
• European Union: Silver subject to local VAT rates. Margin scheme available in some countries for pre-owned coins.
• Singapore: GST-exempt as an Investment Precious Metal at .999+ purity. No capital gains tax.
• Hong Kong: No sales tax, no import duty, no capital gains tax.

Wedge-Tailed Eagle vs Other Perth Mint and Premium Silver Coins

Within the Perth Mint's own lineup, the Wedge-Tailed Eagle occupies the premium tier alongside the Kookaburra. Both feature annual design changes and .9999 purity. The Kookaburra has had varying mintage caps (currently unlimited for some editions), while the Wedge-Tailed Eagle's 50,000 cap is consistent. The Mercanti name recognition gives the Wedge-Tailed Eagle an edge in the US market that the Kookaburra does not share.

Against the Perth Kangaroo, the Wedge-Tailed Eagle trades higher premiums for limited mintage and annual design variety. The Kangaroo is the practical stacking choice; the Eagle is for buyers willing to pay more for scarcity and design quality.

Against the Mexican Libertad, which is another low-mintage sovereign silver coin, the Wedge-Tailed Eagle offers higher purity (.9999 vs .999), clear legal tender status, and the Mercanti collector following. The Libertad has the distinction of being the only sovereign bullion coin with no face value, along with even lower mintages in some years.

Against the 1 oz Somalia Elephant, the Wedge-Tailed Eagle has the advantages of unambiguous legal tender status, higher purity, and Perth Mint provenance. The Somalia Elephant has similar annual design appeal but contested legal tender status and lower purity (.999).

The Mercanti connection creates a specific collector dynamic: buyers who value the American Silver Eagle designer's work will pay a premium for the Wedge-Tailed Eagle that has no equivalent for other Perth Mint products. The 2026 dual-eagle design, pairing the wedge-tailed eagle with an American bald eagle, is likely to amplify this crossover demand.