1 listing
Filters
| Product | /oz | Premium | Price | |
|---|---|---|---|---|
Gold Secure
|
$74.65 | +12.76% |
$149.16
A$213
|
View Deal |
Prices are fetched automatically and may not reflect current merchant prices. Currency conversions and tax treatment are approximate. Rankings are based solely on price. We are not a dealer and accept no responsibility for transactions with listed merchants. Past performance is not indicative of future results. This site does not provide investment advice. Full disclaimer
About the 2 oz Dragon Rectangular Silver Coin
Perth Mint's Rectangular Format at Double Weight
The 2 oz Perth Mint Dragon Rectangular combines two distinctive features in a single product: the rectangular coin format that the Perth Mint pioneered in 2018, and double the silver content of the standard 1 oz version. At 62.2 grams of .9995 fine silver, this Australian legal tender coin occupies a unique position as one of the few rectangular coins available in a 2 oz weight from any sovereign mint.
The Dragon Rectangular series produces a new dragon design each year, drawing from both Eastern and Western dragon mythology. The rectangular shape itself is the series' most recognisable feature, described as a cross between a conventional coin and a bar. Despite the unconventional format, these are officially classified as coins with Australian dollar face values and carry the full weight of Perth Mint's government backing.
The 2 oz version appeals to buyers who want the collectible annual-design format of the 1 oz Dragon Rectangular but with greater silver content per piece. The rectangular format stacks differently from round coins, sitting flat like bars while retaining legal tender status and the Perth Mint's micro-laser security engraving.
2 oz Dragon Rectangular Specifications
| Attribute | Value |
|---|---|
| Weight | 2 troy oz (62.207 g) |
| Purity | .9995 fine silver |
| Issuing Authority | Australia (Perth Mint) |
| Face Value | AUD $2 |
| Shape | Rectangular |
| Security | Micro-laser engraved letter |
| Obverse | Dan Thorne King Charles III effigy (from 2024) |
| Series Launch | 2018 |
The .9995 purity (four nines plus) exceeds the .999 standard of most competing silver coins and even surpasses the .9999 standard used by the Royal Canadian Mint. The Perth Mint's micro-laser engraved letter, detectable only under magnification, provides anti-counterfeiting protection that is difficult and uneconomical to replicate. This security feature is standard across Perth Mint bullion products.
The rectangular format creates a coin with proportions close to a credit card, making it visually distinctive in any collection. The dimensions allow for broader, more cinematic design compositions than the circular constraints of traditional coins permit. Each year's dragon design takes full advantage of this extended canvas to depict scenes that would feel cramped on a round coin.
Perth Mint Dragon Rectangular 2 oz Tax Status
As Australian legal tender struck by a government-backed mint at .9995 purity, the Dragon Rectangular benefits from favourable tax treatment in several jurisdictions. The key advantage over privately minted products is the sovereign backing that supports eligibility in tax-advantaged accounts.
- Australia: GST-free as investment-grade silver. The .9995 purity exceeds the required threshold, and the Perth Mint is a recognised government investment body. Legal tender status with AUD face value confirms bullion classification.
- United Kingdom: Not UK legal tender, so subject to 20% VAT on purchase. Gold versions would be VAT-free as investment gold meeting EU/UK criteria. Not CGT-exempt (only UK legal tender coins qualify, such as Britannias and Sovereigns).
- United States: Perth Mint silver coins at .9995 purity meet IRA fineness requirements (.999 minimum for silver). The rectangular format may raise classification questions with some custodians, but the legal tender status and Perth Mint provenance support eligibility. State sales tax varies, with approximately 35 states exempting qualifying bullion.
- Canada: Meets .999+ purity requirements for GST/HST exemption. Potential RRSP eligibility as a government-issued silver coin exceeding purity thresholds.
- New Zealand: Fine silver bullion at .999+ purity is GST-exempt under NZ investment bullion rules.
- Singapore: Qualifies for Investment Precious Metals (IPM) GST exemption at .999+ purity. Perth Mint products are widely available from Singapore dealers.
- European Union: Silver coins attract standard VAT rates (17-27% by country). The EU Investment Gold Directive does not extend to silver regardless of purity or legal tender status.
Dragon Rectangular 2 oz vs Perth Mint Lunar and Royal Mint Tudor Beasts
The 2 oz Dragon Rectangular faces competition from several established 2 oz silver coins, each with different strengths. The rectangular format is its most distinctive feature, and the trade-offs against round alternatives are worth examining.
The Royal Mint Tudor Beasts shares the 2 oz format and annual design changes, but as UK legal tender it offers CGT exemption that the Dragon Rectangular cannot match for British buyers. The Tudor Beasts also carries .9999 purity versus .9995. On the other hand, the Dragon Rectangular's unique shape and Perth Mint provenance give it stronger appeal in Asian and Australian markets.
Perth Mint's own Lunar series includes 2 oz silver coins with annual zodiac animal designs, but these are round and carry a broader thematic scope (all 12 animals over 12 years versus dragons every year). The Dragon Rectangular's single-creature focus means every year's design explores dragon mythology in greater depth.
Against the Queen's Beasts 2 oz (now complete and available only on the secondary market), the Dragon Rectangular is a current-production alternative with ongoing annual releases. The Queen's Beasts benefits from a completed-series collector premium, but new buyers cannot acquire at original issue price.
The proof-mintage number of 3,888 for the 1 oz version (the number 8 being auspicious in Chinese culture) signals the Perth Mint's deliberate positioning of this series toward collectors who value the cultural significance of dragon symbolism alongside the metal content. The standard bullion mintage of 250,000 is moderate by sovereign-coin standards, making it scarcer than unlimited-mintage products but accessible enough for the general bullion market.
2 oz Dragon Rectangular Silver Coin: frequently asked questions
-
The cheapest 2oz Dragon Rectangular silver coin listed across dealers is $149.16 from Gold Secure, currently 12.8% over the silver spot price. Prices vary between dealers, so comparing is worthwhile on a coin that often carries a modest collector premium above generic silver.
-
The Dragon Rectangular is an annual series from the Perth Mint, first issued in 2018. Despite its rectangular shape, it is classified as a legal-tender Australian coin, not a bar, and carries an official face value. Each year features a new dragon design on the reverse, drawing on both Eastern and Western dragon mythology. The coins are struck in 999.5 fine silver and come in bullion and proof finishes.
-
This coin weighs 2 troy ounces (62.207g) and is struck in 999.5 fine silver. It is minted by the Perth Mint in Western Australia. The rectangular format is unusual for a legal-tender coin: it gives the product the look of a bar while retaining the face value and government backing of an official coin.