2 oz Australian Platypus Silver Coin

The 2 oz Perth Mint Australian Platypus

The 2 oz Australian Platypus is the 2021 release in Perth Mint's Next Generation series, which has featured a different Australian native animal mother-and-baby pair each year since 2018. The coin is struck in piedfort format: it shares the same 40.90mm diameter as a standard 1 oz coin but at double the thickness (6.02mm), giving it a distinctively chunky profile that immediately sets it apart from conventional 2 oz coins that simply increase the diameter.

The design by Monique Reeves depicts a mother platypus swimming underwater with her young, searching for food along the bottom. The intimate composition captures a behaviour that few people ever witness, given the platypus's secretive and largely nocturnal habits. Rising bubbles and water flow details fill the background against Perth Mint's signature micro-engraved radial lines.

At .9999 fine silver with a mintage of 75,000 pieces, the coin sits between pure bullion (unlimited mintage, lowest premiums) and limited collectible (sub-10,000 mintage, high premiums). This positioning is deliberate: it offers the security of legal tender status under the Australian Currency Act, the purity of the Royal Canadian Mint's Maple Leaf standard, and enough scarcity to maintain secondary market interest without being unobtainable.

The platypus itself is one of only five surviving monotreme species (egg-laying mammals) and is endemic to eastern Australia and Tasmania. Males carry a venomous spur on their hind legs, making the platypus one of the few venomous mammals in existence. This biological uniqueness has made it a popular subject for Australian coinage.

Next Generation Platypus 2 oz Specifications

Next Generation Series Chronology

The piedfort format originates from medieval France, where double-thickness coins were struck as presentation pieces for royalty. Perth Mint revived the concept for modern bullion, creating a coin that feels immediately different in hand. The thickness gives the edge reeding a more prominent tactile quality and makes the coin stack differently from standard-thickness pieces.

Security features include Perth Mint's micro-laser engraved text (containing a hidden letter visible only under magnification), radial line background engraving on both sides, and the "P" mintmark on the reverse.

Tax Treatment of the Perth Mint Platypus

As a sovereign-issued coin under the Australian Currency Act, the Platypus carries legal tender status with a $2 AUD face value. Perth Mint is government-owned by the State of Western Australia and has operated since 1899.

Australia

Investment bullion coins from Perth Mint are GST-free. The coin qualifies based on its .9999 purity and form as a bullion coin from a government-owned mint. Capital gains tax applies on disposal, with a 50% CGT discount available for holdings exceeding 12 months.

United Kingdom

Silver coins attract 20% VAT regardless of their sovereign status or purity. The Platypus is not UK legal tender, so it does not qualify for CGT exemption. Profits are subject to CGT at the investor's rate (18% or 24%), with the annual tax-free allowance applying.

United States

The .9999 silver purity meets IRS Section 408(m) requirements for precious metals IRA eligibility. Perth Mint coins are widely accepted by IRA custodians as sovereign-issued products from a recognised government mint. Sales tax treatment varies by state, with approximately 35 states exempting precious metals purchases. Capital gains are taxed at the 28% collectibles rate for holdings over one year.

Canada

GST/HST exempt. Silver at .999+ purity in coin form from a recognised mint qualifies for the federal exemption.

New Zealand

Silver coins at .999+ purity are exempt from the 15% GST. The Perth Mint Platypus qualifies comfortably at .9999 purity.

Singapore

May qualify for the Investment Precious Metals (IPM) GST exemption if the coin appears on the MAS-approved list. Perth Mint products are generally well-recognised in Singapore's bullion market.

Perth Mint Platypus vs Other 2 oz Wildlife Silver

The 2 oz sovereign silver coin market features several strong competitors, each with distinct positioning.

The 2 oz Royal Canadian Mint Animal Portrait is the closest parallel: sovereign-issued, .9999 silver, annual wildlife design, similar weight. The key differences are format (piedfort for Perth, standard thickness for RCM), finish (BU for Perth, reverse proof for RCM), and design approach (mother-and-baby narratives for Perth, close-up facial portraits for RCM). Perth's 75,000 mintage is likely higher than the RCM Animal Portrait, making it more accessible but potentially less scarce on the secondary market.

Perth Mint's own Kookaburra series (since 1990) is more established and globally recognised, but it is primarily a 1 oz product. The Next Generation series, including the Platypus, offers a different collecting proposition: consistent theme (parent and young), piedfort format, and defined annual rotation rather than the Kookaburra's open-ended continuation.

Against the 2 oz Germania Mint Allegories (privately minted, 2,500 mintage, UHR finish), the Platypus trades scarcity and ultra-high relief for sovereign backing, established brand recognition, and easier resale. Investors who prioritise liquidity and legal tender status will prefer Perth Mint. Collectors seeking rarity and artistic depth may prefer the Germania Mint offering.

The piedfort format itself is a differentiator with few parallels at this weight. Most 2 oz silver coins simply use a larger diameter (typically 45-50mm). The Platypus's compact 40.90mm diameter with 6.02mm thickness creates a coin that feels denser and more substantial than its peers, appealing to buyers who value the tactile experience of handling physical silver.