Golden Eagle Silver

Germania Mint's Flagship Bullion Coin

The Golden Eagle is Germania Mint's inaugural bullion coin series, launched in 2023 through a partnership with the Central Bank of Malta. These are genuine legal tender coins with euro-denominated face values, not private mint rounds. The partnership gives Germania Mint's products a legitimacy that few private mints achieve: every coin is authorised by a central bank within the European Union.

The series is struck in .9999 fine silver, a purity level that exceeds the .999 standard of most silver bullion coins. The 1 oz silver BU coin is the core bullion product, with larger formats including a 1 kg silver coin and 5 oz silver bar available for those seeking heavier pieces.

One distinctive feature of the series is its deliberately declining mintage. The standard 1 oz silver BU went from 100,000 pieces in 2023 to 50,000 in 2024 to just 10,000 in 2025. This is an intentional strategy from Germania Mint, shifting the coin from pure bullion territory toward semi-numismatic status. For buyers entering the series now, earlier vintages may carry collector premiums above their silver content value, while current-year issues remain available at closer-to-bullion pricing.

Golden Eagle Denominations and Dimensions

Mintage History

The coin thickness for the 1 oz silver is 2.3 mm. Individual protective capsules are included with each coin. Proof and Limited Edition versions come with Certificates of Authenticity in presentation packaging. The coat of arms of the Central Bank of Malta appears on the reverse alongside the face value and year.

Maltese Legal Tender Tax Treatment

The Golden Eagle coins carry euro-denominated face values and are legal tender in Malta, an EU member state. This legal tender status from within the eurozone has specific tax implications.

European Union: Investment gold coins meeting the criteria of EU Directive 98/80/EC are VAT-exempt throughout the bloc. The gold versions of the Golden Eagle qualify. Silver coins are generally subject to standard VAT rates in each member state (19% in Germany, 20% in Austria and France, 21% in Belgium and the Netherlands, up to 27% in Hungary). Whether a silver coin qualifies for any reduced treatment depends on the individual member state's classification of the product as investment or collector.

United Kingdom: Gold versions are VAT-exempt as investment gold. Silver coins carry the full 20% VAT rate. The coins are not UK legal tender, so there is no CGT exemption. Only coins issued by the Royal Mint (such as the Silver Britannia) qualify for CGT exemption in the UK.

United States: No federal sales tax. State exemptions vary. The .9999 gold purity meets IRS requirements for IRA eligibility, though as Maltese legal tender the coins may not be on all custodian approved lists. Silver bullion capital gains are taxed at the collectibles rate of up to 28%.

Canada: Silver at .9999 purity exceeds the 99.9% GST/HST exemption threshold. The coins' legal tender status supports their classification as investment bullion.

Australia: Investment-grade silver at 99.9% purity or higher in standard bullion form is GST-exempt. The .9999 purity qualifies under Australia's precious metals rules.

Singapore: Investment Precious Metals meeting MAS purity criteria are GST-exempt. Hong Kong has no sales tax on precious metals.

From Polish Numismatic Shop to Maltese Legal Tender

Germania Mint traces its origins to 1986, when Apolinary Kurowski founded a numismatic shop in Jelenia Gora, Poland, near the Czech and German borders. The family business grew over three decades, eventually rebranding as Germania Mint in 2021 (the Kurowski Group name was used until then). Today it employs approximately 250 people, and the founding family still owns and operates the business. An EU grant in 2017 funded the development of their R&D facility, enabling the cast bar and ennobling capabilities that have become the mint's signature.

The Golden Eagle series, launched in 2023, marked a significant step: Germania Mint's first bullion coin with legal tender status. The partnership with the Central Bank of Malta gave the coins euro-denominated face values and governmental authentication, lifting them above the private mint round category occupied by most non-sovereign producers. The series is Germania Mint's answer to a fundamental market challenge: without legal tender status, even the finest private mint products face tax disadvantages and lower buyer confidence compared to sovereign coins.

The design depicts a golden eagle locked in combat with a serpent, representing the battle between good and evil according to Germania Mint. Mediterranean waves churn below the scene, referencing Malta's island geography between Sicily and North Africa. The reverse features the coat of arms of the Central Bank of Malta surrounded by a decorative wreath inspired by ornamentation in the Grandmaster's Palace in Valletta, incorporating olive (peace), palm (majesty), lily (purity), and rose (harmony) elements.

The dramatic reduction in standard BU mintage from 100,000 in 2023 to 10,000 in 2025 is unusual for a bullion series. Most sovereign mints maintain or increase mintages for successful products. Germania Mint has chosen the opposite path, deliberately creating scarcity that may generate collector premiums on earlier vintages. Germania Mint won the Coin of the Year Award in 2025 for their Maltese Bee design, establishing the mint's international reputation alongside the Golden Eagle programme.

Golden Eagle vs Established European Silver

The Austrian Philharmonic is the established European silver bullion coin, with much higher mintages, greater liquidity, and lower premiums. The Philharmonic's euro-denominated legal tender status (1.50 EUR face value) and decades of market presence make it the default choice for European buyers who want silver bullion with maximum resale ease. The Golden Eagle competes on artistic design and .9999 purity (the Philharmonic is .999), but it cannot match the Philharmonic's market depth.

The Silver Britannia from the Royal Mint offers UK buyers a specific advantage: CGT exemption as UK legal tender. For UK-based stackers, this tax benefit can outweigh other considerations. The Britannia also features advanced security technology including a latent image and micro-text that the Golden Eagle lacks. Both coins are struck at .999 purity for the Britannia versus .9999 for the Golden Eagle.

Within Germania Mint's own catalogue, the Golden Eagle competes with the Germania series, also produced in partnership with Malta. Both share similar specifications and the same Maltese legal tender status. The choice between them is primarily aesthetic: the female personification of Germania versus the eagle-and-serpent combat scene. The Goddesses cast bar series offers a different format entirely, as 2 oz cast bars rather than struck coins, appealing to collectors who prefer the artisanal quality of cast silver.

The South African Silver Krugerrand competes on brand recognition but at .999 purity. For buyers outside Europe who simply want recognised silver at competitive premiums, the Krugerrand's global dealer network gives it an edge. The Golden Eagle's advantage is its .9999 purity and declining mintages, which may generate collector value that mass-production coins cannot. Buyers focused purely on silver weight per currency unit will find better value elsewhere, but those who want EU legal tender status combined with four-nines purity have limited alternatives.