2 oz RCMP Silver Coin

The RCMP 2 oz Silver Round: Canadian Heritage in Bullion Form

The 2 oz Argentia RCMP silver round commemorates the Royal Canadian Mounted Police, Canada's national police force established in 1873. Produced by Argentia Precious Metals (a trade name of Canadian PMX Corp) under official RCMP licensing, this is a silver round rather than a coin. That distinction matters: rounds carry no face value, are not legal tender, and lack the tax advantages that legal tender coins enjoy in Canada and elsewhere.

At 2 oz of .9999 fine silver, the round offers the highest purity standard available in silver bullion, matching the Royal Canadian Mint's Maple Leaf. The ultra-high relief design depicts a mounted RCMP officer in the iconic Red Serge ceremonial dress uniform, capturing the image most associated with Canada's national police force worldwide. The reverse features a tessellated pattern of miniature mounted officers carrying flags. This level of design detail, achieved through ultra-high relief striking, gives the piece a sculptural quality that standard-relief rounds lack.

Buyers should understand the practical implications of the round classification. In Canada, legal tender silver coins (such as those from the Royal Canadian Mint) qualify for GST/HST exemption, but rounds do not. This tax disadvantage adds approximately 5-15% to the effective purchase cost depending on province. In the United States, rounds are typically excluded from precious metals IRAs. For buyers who prioritise the RCMP commemorative theme and the .9999 purity at 2 oz, these trade-offs may be acceptable. For those focused purely on silver accumulation with tax efficiency, legal tender alternatives offer better value.

Argentia RCMP 2 oz Silver Round Technical Details

The .9999 (four nines) purity is notable for a privately produced round, matching the standard set by the Royal Canadian Mint for its Maple Leaf coins. Argentia states that the silver is sourced from LBMA-recognised refineries and struck in Canada. This purity level means that of the 62.21 grams gross weight, approximately 62.20 grams is pure silver, with only trace amounts of other elements present for metallurgical stability.

The ultra-high relief technique creates pronounced three-dimensional detail, particularly visible in the horse's musculature and the officer's uniform details including the buttons, Sam Browne belt, and riding boots. This manufacturing process requires substantially greater striking pressure than standard rounds, with multiple die impressions potentially needed to achieve the full depth of relief without cracking or incomplete metal flow. The additional manufacturing steps contribute to both the production cost and the retail premium above generic round pricing.

The 2020 release date connects to the RCMP's broader heritage: the force was established in 1873 as the North-West Mounted Police (created to bring law and order to Canada's western territories), becoming the Royal Canadian Mounted Police in 1920 when it merged with the Dominion Police. The 1 oz version of this round uses .999+ purity, while the 2 oz and larger formats (5 oz at .9999, 10 oz at .9999) use the higher four-nines standard. Argentia has not publicly explained this purity difference across sizes, which may reflect different refinery sourcing or production batch requirements.

Tax Implications of the RCMP Silver Round

The classification as a round (not a coin) significantly affects the tax treatment of this product. Rounds lack the legal tender status that provides tax advantages in most jurisdictions.

• Canada: Subject to GST/HST. The Canadian bullion exemption (zero-rated supply under the Excise Tax Act) requires items to be legal tender coins or bars/wafers refined to 99.9%+ purity. Rounds from private mints do not qualify for this exemption regardless of their purity. This is the single largest disadvantage versus Royal Canadian Mint products for Canadian buyers.
• United States: No federal sales tax. State exemptions vary; some states exempt all precious metals regardless of form, while others only exempt legal tender coins. Not IRA-eligible: IRS Section 408(m) requires either government-issued legal tender coins or bars meeting specific requirements from approved refineries. Rounds from private mints do not satisfy either criterion.
• United Kingdom: 20% VAT applies on purchase. Not CGT-exempt. Treated identically to other non-legal-tender silver products.
• Australia: Subject to 10% GST. The investment-grade bullion exemption is limited to items traded on recognised commodity markets; private mint rounds may not qualify even at .9999 purity.
• Singapore: The IPM (Investment Precious Metal) scheme requires coins to be legal tender. Rounds without face values do not qualify for GST exemption.

For Canadian buyers specifically, the tax penalty is substantial: HST in Ontario (13%) or GST+PST in other provinces adds meaningfully to the acquisition cost versus a tax-exempt Royal Canadian Mint coin of equivalent silver content.