2 oz Biblical Silver Coin

Scottsdale Mint's 10-Year Biblical Silver Series

The 2 oz Biblical silver coin from Scottsdale Mint is a collector-bullion crossover piece that stands apart from standard bullion in almost every respect. Each coin in this series reproduces a 19th-century wood engraving by Gustave Dore, the French artist whose illustrated Bible remains among the most recognised works of Biblical art ever produced. Sculptor D'Almeda Novissimo adapted Dore's flat engravings into three-dimensional high-relief coin designs, a technically demanding translation between artistic mediums.

The series ran from 2015 to 2024, releasing six new designs per year for a total of 60 coins depicting scenes from the Old and New Testaments. Each design is limited to just 1,499 pieces worldwide, making the complete set only 89,940 coins across the entire decade. By comparison, mainstream bullion coins like the 1oz Silver Maple Leaf have annual mintages in the millions. That scarcity means these coins trade well above their silver melt value, and early-year designs from 2015 and 2016 have become increasingly difficult to source at original premiums.

The coins are struck on rimless blanks with an antique finish that gives them the appearance of ancient artefacts rather than modern coinage. There is no raised border, and the high-relief strike creates a tactile, sculptural surface. Each coin is individually serial-numbered on the edge and ships with a certificate of authenticity. An optional leather album holds all six coins from a given year and, when complete, mimics the spine and format of a leather-bound Bible.

For stackers focused purely on accumulating silver by weight at the lowest premium, these are not the right product. At 1,499 mintage with collector-grade packaging, the Biblical series commands premiums that reflect its numismatic appeal. Buyers here are typically building sets over time, drawn by the combination of Dore's artistry, the high-relief antique finish, and the limited production run. Collectors who purchased all 60 coins hold 120 troy ounces of silver in the complete set.

Biblical Series Specifications

The 39 mm diameter is compact for a 2 oz coin, comparable to many standard 1 oz coins. The extra silver content is accommodated through greater thickness, giving the Biblical coins a noticeably heavier, chunkier feel in the hand than a typical 1 oz piece. The rimless blank is unusual in modern coinage and contributes to the archaeological appearance that defines the series.

Some designs were also produced in a 5 oz silver variant with even lower mintages, adding further depth for collectors pursuing the series beyond the standard 2 oz format. The obverse portrait remained the Raphael Maklouf effigy of Queen Elizabeth II throughout the entire run, even after most Commonwealth coins transitioned to King Charles III following 2022.

Biblical Series Tax and Legal Status

The Biblical series carries a $2 NZD face value, making each coin legal tender in Niue, a self-governing state in free association with New Zealand. This legal tender status affects tax treatment in several jurisdictions, though not always favourably compared to coins issued by major sovereign mints.

United States

Silver bullion is exempt from sales tax in approximately 35 states. In states that do tax bullion, rates typically range from 4% to 7%. Some states apply threshold-based exemptions: California exempts purchases over $2,000, Florida over $500, and New York over $1,000. Capital gains on silver are taxed at the collectibles rate of up to 28% for holdings of more than one year. The Biblical series does not qualify for IRA inclusion, as it is not produced by a US Mint or IRS-approved foreign sovereign mint.

United Kingdom

Silver coins from Niue are not UK legal tender and are subject to the standard 20% VAT on purchase. They do not qualify for CGT exemption, which is reserved for UK legal tender coins such as the 1oz Silver Britannia. The margin scheme may apply when purchasing pre-owned examples from participating dealers, reducing the effective VAT to the dealer's profit margin only.

Canada

Silver bullion at 99.9% purity or above is exempt from GST/HST in Canada, so the Biblical series qualifies for this exemption. Capital gains are taxed at a 50% inclusion rate.

Australia and New Zealand

In Australia, silver bullion at 99.9% purity or above is GST-free. The Biblical series at .999 fineness meets this threshold. In New Zealand, silver at 99.9% purity is also GST-exempt, and there is no capital gains tax.

European Union

Silver coins are subject to local VAT rates across the EU, ranging from 17% in Luxembourg to 27% in Hungary. Germany applies its margin scheme (Differenzbesteuerung) to imported silver coins, reducing the effective tax to the dealer's margin. The Netherlands also permits margin scheme sales on pre-owned silver coins.

Biblical Series vs Other 2 oz Silver Collector Coins

The Biblical series occupies a specific niche: collector-grade 2 oz silver with extremely low mintage and consistent artistic sourcing. Comparing it to other products at the same weight helps clarify what kind of buyer it suits.

The 2oz Silver Kookaburra from the Perth Mint shares the 2 oz format but is a fundamentally different product. The Kookaburra is a bullion coin with annual design changes and a much higher mintage cap (500,000 for the 1 oz version), produced for investment-grade stacking. It trades close to spot with a moderate premium, and its annual design changes appeal to collectors who also want bullion-grade liquidity. The Biblical coin trades at a substantial premium above melt, driven by its 1,499 mintage and the collector market for specific designs.

The 2oz Norse Gods from the Cook Islands is a closer comparison. Both are 2 oz, .999 silver, ultra-high-relief antique-finish coins with very low mintages (1,000 for Norse Gods vs 1,499 for Biblical). Both target the same collector-bullion crossover market. The Norse Gods series is smaller (nine coins vs sixty) and was struck by BH Mayer Mint in Germany rather than Scottsdale. The choice between them is largely aesthetic: Biblical art from Gustave Dore versus Norse mythology in sculptural relief.

The 2oz Germania from Germania Mint offers a 2 oz option at .9999 purity with a contemporary design, but it lacks legal tender status entirely. Its "5 Mark" denomination is ornamental. The Germania trades at lower premiums and targets buyers seeking a modern private-mint alternative to sovereign coins, not the collector-set market that the Biblical series serves.

For buyers focused on accumulating 2oz silver coins by weight at the lowest premium, the Biblical series is the wrong product. Its value proposition is the artistic heritage of Dore's engravings, the limited production run, and the decade-long set-building experience that concluded in 2024.