Germania Mint Norse Gods Silver

A Royal Mint and Germania Mint Collaboration on Silver Bars

The Norse Gods series is a collaboration between The Royal Mint (the United Kingdom's sovereign mint) and Germania Mint (a private mint based in Poland under German ownership). The partnership is unusual in bullion: sovereign mints rarely co-brand products with private mints. The Royal Mint designs and strikes the bars, while Germania Mint packages them in their signature CardBar format and handles international distribution outside the UK.

The series features Norse deities on silver bars: Odin (2024), Thor (2025), and Loki (2025), with a 2026 Special Edition planned to feature all three. The primary formats are 1oz and 10oz bars. A 2oz coin version also exists. The 1 oz bars are struck in .9999 fine silver, while the 10 oz bars use .999 purity, an intentional distinction confirmed across multiple dealer listings.

The Royal Mint's coat of arms appears on the obverse of each bar, providing sovereign mint provenance that most private mint silver cannot claim. Germania Mint's CardBar packaging extends the Norse mythology artwork beyond the bar itself, incorporating runes, symbols, and themed graphics that make the presentation card part of the design experience. Mintage for the 1 oz Odin bar is 60,000; the 10 oz Odin bar is 7,000, making the larger format genuinely scarce by silver bullion standards.

For buyers who appreciate both institutional credibility and artistic design ambition, the Norse Gods series delivers a combination that neither the Royal Mint's plain branded bars nor Germania Mint's standard rounds achieve alone. The dual branding brings together the sovereign mint's manufacturing reputation with the private mint's design flair and collector-oriented packaging.

Norse Gods Bar and Coin Specifications

Releases in the Series

The purity split between 1 oz (.9999) and 10 oz (.999) is notable. The four-nines standard on the smaller bar matches the Silver Maple Leaf in fineness and meets the stricter GST-free thresholds in Australia and New Zealand. The .999 on the 10 oz bar is the more common silver bullion standard, matching most sovereign mint coins and bars.

The 60,000 mintage for the 1 oz bar is modest for silver bullion but not restrictive. For comparison, generic silver bars from major refiners are unlimited, while even "limited" sovereign products often run into the hundreds of thousands. The 7,000-piece 10 oz bar is genuinely scarce and represents a meaningful secondary market consideration for collectors.

Norse Gods Tax Treatment by Country

The Norse Gods bars are silver bullion products without legal tender status. They carry no face value and are not recognised as currency by any country, despite being struck by The Royal Mint. The Royal Mint branding does not confer tax advantages for non-coin products in any jurisdiction.

• United Kingdom: Silver bars attract 20% VAT regardless of the mint of origin. The Royal Mint stamp does not provide any exemption for bars. Only UK legal tender coins (such as the Silver Britannia) qualify for CGT exemption. The Norse Gods bars are subject to CGT at the individual's rate (18% basic, 24% higher), with the annual CGT allowance of £3,000 applying. Pre-owned bars may be available under the margin scheme from some dealers.
• EU/Germany: Germany applies 19% VAT to silver bars. The differential tax scheme (Differenzbesteuerung) may be available through some dealers for imported or pre-owned silver, reducing the effective VAT burden to approximately 3-5%. VAT rates across other EU member states range from 17% (Luxembourg) to 27% (Hungary). Germania Mint's European distribution network means the bars are widely available from EU dealers.
• United States: State sales tax treatment varies. Roughly 35 states exempt investment precious metals. These bars, as non-legal-tender products, may face additional scrutiny from IRA custodians, though the Royal Mint provenance may assist. Capital gains are taxed at the collectibles rate of 28% for long-term holdings.
• Canada: Silver at 99.9% purity or above is exempt from GST/HST. Both the .9999 (1 oz) and .999 (10 oz) bars meet this threshold. Capital gains at the 50% inclusion rate.
• Australia: Silver at 99.9% purity or above qualifies as GST-free. The .9999 1 oz bar meets this threshold. The .999 10 oz bar also qualifies at exactly 99.9%. Capital gains tax applies with a 50% discount for holdings over 12 months.
• Singapore: Silver bars at 99.9% purity and 0.5 troy oz minimum qualify as Investment Precious Metals, exempt from 9% GST. Both sizes meet these criteria. No capital gains tax.
• Hong Kong: No sales tax, import duty, or capital gains tax on silver bullion.

Odin, Thor, and Loki: Norse Deities on Royal Mint Silver

The Norse Gods series draws from Scandinavian and Germanic mythology, choosing three deities who represent different aspects of the Norse pantheon and whose stories are intertwined through the narrative of Ragnarok, the prophesied end of the world.

Odin (2024, inaugural release): The Allfather, god of wisdom, warfare, and magic, and ruler of Asgard. The bar's reverse depicts Odin seated on his throne, flanked by his two wolves Geri and Freki. He holds Gungnir, his spear that never misses its mark. Odin sacrificed one eye to drink from the Well of Wisdom (Mimir's Well) and hung himself from the World Tree Yggdrasil for nine days to gain knowledge of the runes. He maintains two ravens, Huginn (Thought) and Muninn (Memory), who fly across the world each day and report back on all they have seen. Unlike the omnipotent gods of Greek or Roman tradition, Odin is aware of his own destined death at Ragnarok, where Fenrir the wolf will devour him. This foreknowledge gives Norse mythology a distinctly human quality of mortality and inevitability.

Thor (2025): Odin's son, the god of thunder and storms, and the protector of both gods and humans. Thor wields Mjolnir, a hammer forged by dwarven smiths that always returns to his hand after being thrown. The bar depicts Thor in a powerful stance with Mjolnir raised. In Norse society, Thor was the most widely worshipped of the Aesir gods, particularly among ordinary people and warriors. Thursday ("Thor's Day") in English preserves his name.

Loki (2025): The trickster god of fire and mischief, a blood-brother to Odin who became the gods' greatest enemy. Loki is a shapeshifter whose schemes range from harmless pranks to catastrophic betrayals, culminating in his pivotal role in triggering Ragnarok. He is the father of Fenrir the wolf, Jormungandr the World Serpent, and Hel, the ruler of the dead. The bar captures Loki's dual nature as both a member of the divine court and its ultimate destroyer.

The thematic focus on the mortality of Norse gods, combined with The Royal Mint's manufacturing pedigree and Germania Mint's packaging artistry, creates a series that engages with its mythological source material more deeply than most themed bullion products. A 2026 Special Edition featuring all three deities is planned, presumably as a culminating piece for the initial trilogy.

Norse Gods vs Other Themed Silver Bars and Royal Mint Products

The Norse Gods series occupies a distinctive position at the intersection of sovereign mint quality and private mint design ambition. Comparing it to alternatives in both categories clarifies what the dual-brand approach offers.

Against the Royal Mint's own-brand silver bars, the Norse Gods adds artistic design and collector appeal at a higher premium. The Royal Mint produces plain-stamped silver bars under its own brand, priced competitively with other major refinery products. Those bars are commodities; the Norse Gods bars are themed collectibles with limited mintages and presentation packaging. Buyers seeking the cheapest way to own Royal Mint silver should look at the plain bars. Buyers who want the Royal Mint's manufacturing quality with a specific visual identity will find the Norse Gods series compelling.

Against PAMP Suisse's themed silver bar series (Lunar, Mythology), the comparison is balanced. PAMP holds LBMA accreditation and wider global recognition as a premium bar producer. The Norse Gods bars counter with sovereign mint provenance from The Royal Mint, which carries significant institutional weight, particularly in the UK market. Both series command premiums above generic bars, and both target the collector-investor crossover segment.

Within Germania Mint's own catalogue, the Germania Beasts is the closest relative. Both series draw from Norse/Germanic mythology. The Beasts series features creatures (Fafnir, Fenrir, Gullinbursti) in round format with the Geminus paired-design concept, while the Norse Gods focuses on deities in bar format with Royal Mint co-branding. The Beasts series is entirely a Germania Mint product; the Norse Gods benefits from The Royal Mint partnership. Collectors interested in Norse mythology often buy from both series, as the products are complementary rather than competing.

Against standard branded bars from Asahi, Heraeus, or Valcambi at the 1oz and 10oz weight classes, the Norse Gods trades at higher premiums. Those industrial-brand bars prioritise liquidity and minimal cost above spot, with no thematic design and unlimited production. The trade-off is straightforward: generic branded bars are cheaper and easier to resell; the Norse Gods bars are more visually interesting and scarcer, with the Royal Mint provenance adding a layer of credibility that purely private mint products lack.