2 oz Knights of The Past Silver Coin

Malta's Euro-Denominated Legal Tender Bullion

The 2 oz Germania Mint Knights of The Past Silver Coin is a high-relief limited-edition piece issued by the Central Bank of Malta, making it one of very few Euro-denominated silver bullion coins available. At .9999 fine silver (four-nines purity), it matches the purity of the Canadian Maple Leaf and Austrian Philharmonic. The 10 Euro face value gives it official legal tender status within the Eurozone, which has potential tax implications for EU-based buyers.

The Knights of the Past series ran for three years (2021-2023), produced by Germania Mint in partnership with the Central Bank of Malta. This was Malta's first legal tender bullion coin programme. The 2 oz high-relief versions were limited to just 999 pieces per year, while the companion 1 oz coins had a 15,000 mintage. The series is now complete, making it a closed collection on the secondary market.

The Knights Hospitaller (the Sovereign Military Hospitaller Order of Saint John of Jerusalem, of Rhodes, and of Malta) still exist today as the world's oldest surviving chivalric order, with observer status at the United Nations. The order ruled Malta as a monastic state from the 16th century, and their military history provides the thematic foundation for the series. The 2022 coin depicts the Great Siege of 1565, when outnumbered Knights and Maltese defenders held off an estimated 40,000 Ottoman troops in one of European history's most significant military confrontations.

Knights of the Past 2 oz Technical Details

Annual Releases

Verdala Palace, featured on the 2021 coin, is a Renaissance-era limestone fortress designed by architect Girolamo Cassar and built in 1586. It served as a prison for captured French soldiers during Napoleon blockade of Malta (1798-1800) and is now the official summer residence of Malta President since 1987. The companion 1 oz versions of the same series carry a 5 Euro face value and were minted in quantities of 15,000 per year, providing a more accessible entry point to the same design programme. Both weights share the .9999 silver purity that positions the series alongside the world premium sovereign bullion products.

Tax Position for Knights of the Past Coins

The Euro-denominated legal tender status from a Eurozone country (Malta) gives these coins a distinctive tax position, particularly within the European Union.

European Union

As Euro-denominated legal tender silver coins issued by an EU member state's central bank, these may qualify for VAT exemption or reduced treatment in EU member states under Directive 2006/112/EC Articles 344-346 (concerning investment gold and certain coins). Implementation varies by member state, and the high-relief limited-edition nature may cause some tax authorities to classify them as collector items rather than investment bullion. The distinction matters: investment silver coins from EU central banks may receive preferential treatment that generic silver bullion does not.

United Kingdom

Post-Brexit, EU legal tender status provides no VAT benefit in the UK. Silver attracts the standard 20% VAT. Not CGT-exempt (only UK Royal Mint coins qualify). The Euro denomination is irrelevant for UK tax purposes.

United States

No federal sales tax. The .9999 purity exceeds the IRA silver threshold (99.9%). State-level exemptions for precious metals apply in approximately 35 states.

Australia and New Zealand

Silver at .999+ purity in coin form qualifies as investment-grade and is GST-free in both Australia (99.9% threshold) and New Zealand (99.9% threshold). The .9999 purity exceeds both requirements.

Canada

Silver at 99.9%+ purity is GST/HST exempt.

The Knights Hospitaller and Malta's Bullion Heritage

The Knights of the Past series draws on nearly five centuries of the Knights Hospitaller's rule over Malta. The order arrived in 1530 after being expelled from Rhodes by the Ottoman Empire, and governed the islands as a sovereign state until Napoleon's invasion in 1798. During this period, they transformed Malta into one of the Mediterranean's most heavily fortified territories.

The Great Siege of 1565, depicted on the 2022 coin, cemented the Knights' reputation across Europe. Grand Master Jean de Valette led the defence against an Ottoman force of approximately 40,000 troops with fewer than 6,000 defenders. After nearly four months of bombardment and assault, the Ottomans withdrew. The victory made Valette a European hero, and the new capital city built after the siege (Valletta) bears his name to this day.

Germania Mint's partnership with the Central Bank of Malta reflects the growing trend of smaller EU nations engaging private mints to produce commemorative and bullion coins. Germania Mint operates from Poland but has German ownership, and the company has built relationships with multiple sovereign authorities including Malta and various African nations. The Knights of the Past programme represented a prestige collaboration, lending the weight of a Eurozone central bank to Germania Mint's technical capabilities.

The series concluded after three years as planned. Unlike ongoing bullion programmes (Perth Mint Kangaroo, Royal Mint Britannia), the finite nature of a three-coin series creates a complete collectible set. For Germania Mint, the Goddesses cast bar collection and other themed series have continued the company's expansion in the limited-edition precious metals market.

Knights of the Past vs Other Limited-Edition 2 oz Silver

The Knights of the Past occupies a specific niche: Euro-denominated legal tender from an EU central bank, produced by a private mint known for collectible quality, at a 999-piece mintage. This combination is nearly unique in the market.

Against the 2 oz Tudor Beasts from the UK Royal Mint, the Tudor Beasts offer far higher mintages (unlimited), better global liquidity, CGT exemption for UK buyers, and lower per-ounce premiums. The Knights of the Past counter with extreme scarcity (999 vs unlimited), Euro legal tender status with potential EU tax benefits, and high-relief finish. For pure bullion accumulation, the Tudor Beasts are clearly superior. For collectors seeking scarce EU legal tender silver with historical significance, the Knights series offers something the Royal Mint cannot.

Against the 2 oz Hunters by Night from CIT (888 mintage, Palau legal tender), both series share extreme scarcity and collector-oriented pricing. The Knights of the Past has the advantage of EU central bank backing rather than a Pacific micro-state issuer. CIT's Obsidian Black finish and Smartminting technology arguably produce a more technically innovative coin, but the Malta legal tender status carries more weight in EU tax jurisdictions.

The .9999 purity matches or exceeds all mainstream sovereign bullion: Canadian Maple Leaf (.9999), Perth Mint Kangaroo (.9999), and Austrian Philharmonic (.999). Many limited-edition coins use .999 rather than .9999, making the Knights series' four-nines purity an objective technical distinction. Combined with the Central Bank of Malta's involvement, these coins occupy the highest tier of private-mint-produced sovereign bullion.