RAM Kangaroo Silver

Royal Australian Mint Kangaroo Silver Coins

The Royal Australian Mint (RAM) in Canberra produces its own kangaroo-themed silver bullion coin, distinct from the better-known Perth Mint Silver Kangaroo. This is a source of frequent confusion: Australia has two separate government mints, both issuing legal tender silver coins featuring kangaroos, with different specifications, different designs, and different production philosophies.

The RAM bullion version launched in 2016 with a "Seasons Change" sub-series that depicted the seasonal life cycle of the kangaroo across four years: a joey in its mother's pouch (winter, 2016), an Eastern Grey Kangaroo beneath spring leaves (2017, designed by Stevan Stojanovic), and corresponding summer and autumn scenes through 2019. Annual design changes have continued beyond the Seasons Change subset, giving each vintage its own character. The Perth Mint version, by contrast, uses the same Stuart Devlin red kangaroo design every year.

The 1 oz RAM Kangaroo is the primary bullion format, struck in .9999 fine silver with a $1 AUD face value. The .9999 purity matches the Canadian Silver Maple Leaf and exceeds the .999 standard of the Britannia, American Silver Eagle, and most other sovereign silver coins. The coin measures 40.0 mm in diameter, slightly smaller than the Perth Mint version's 40.6 mm, which is one physical way to distinguish between the two.

Production volumes for the RAM bullion version are lower than the Perth Mint's, and the annual design changes add a collecting dimension. This combination tends to produce slightly higher premiums per ounce compared to the Perth Mint Kangaroo, but the trade-off is annual variety and scarcer individual vintages. For stackers focused on the lowest cost per ounce, the Perth Mint version or plain Maple Leafs remain more efficient. For buyers who value annual design variety alongside their silver, the RAM Kangaroo fills that niche.

RAM Kangaroo 1 oz Silver Specifications

The obverse features the reigning monarch's portrait: Queen Elizabeth II through 2022 issues, transitioning to King Charles III from 2023 onward. The coin uses micro-engraved security features on modern issues and carries a reeded edge consistent with the Perth Mint version.

RAM vs Perth Mint Specifications Compared

The 0.6 mm diameter difference (40.0 vs 40.6 mm) is the simplest physical way to distinguish the two coins. Coin tubes and capsules designed for one version may not fit the other exactly, so buyers should verify tube compatibility when purchasing in bulk. The RAM bullion version has unlimited annual mintage in principle, but actual production volumes are far lower than the Perth Mint's, contributing to the slightly higher premiums and collector interest in individual vintages.

Design Chronology

The 2016-2019 releases formed the "Seasons Change" subset, depicting the seasonal life cycle of the kangaroo: winter (joey in pouch, 2016), spring (Eastern Grey beneath leaves, 2017, designed by Stevan Stojanovic), summer (2018), and autumn (2019). This four-year thematic run is the only deliberate subset within the series and has collector interest as a completed set. From 2020 onward, annual designs continue with different kangaroo themes but without a unifying seasonal framework.

RAM Kangaroo Tax Treatment by Country

As Australian legal tender coins struck in .9999 silver, the RAM Kangaroo qualifies for investment bullion treatment in most major markets. The high purity exceeds every threshold for tax-exempt status globally.

Australia

Investment-grade silver at 99.9% purity or higher is GST-free, and the .9999 purity exceeds this threshold. Capital gains tax applies on disposal, but individuals holding silver for over 12 months qualify for a 50% CGT discount. As a domestic RAM product, the coins are widely available through Australian dealers and directly from the RAM.

United Kingdom

Silver RAM Kangaroo coins carry 20% VAT on purchase. The investment gold VAT exemption does not extend to silver. The coins are not UK legal tender, so CGT exemption does not apply. Some dealers have historically listed RAM Kangaroos as potentially CGT-exempt on the basis that they are government-issued legal tender coins, but UK HMRC generally restricts the CGT exemption to UK legal tender. Buyers should seek tax advice. For straightforward CGT exemption, silver Britannias are the safer option.

United States

No federal sales tax. State sales tax varies. The .9999 purity exceeds the IRS .999 minimum for precious metals IRAs, and as a government-issued coin, the RAM Kangaroo should qualify for IRA inclusion, though it is less commonly listed than the Perth Mint version. Confirmation with a custodian is recommended. Capital gains are taxed at the collectibles rate of up to 28%.

Canada

Silver at 99.9% purity or higher is GST/HST-exempt. The .9999 purity qualifies. Capital gains follow the 50% inclusion rate.

Singapore

Silver coins at 99.9% purity that are or were legal tender qualify as Investment Precious Metals (IPM), exempt from 9% GST. No capital gains tax applies.

Hong Kong

No sales tax, import duty, or capital gains tax on silver bullion.

New Zealand

Silver at 99.9% purity or higher is GST-exempt. No formal capital gains tax.

RAM Kangaroo vs Perth Mint Kangaroo, Maple Leaf, and Britannia

The most important comparison is between the RAM Kangaroo and the Perth Mint Silver Kangaroo, since both are Australian government-issued legal tender silver coins featuring kangaroos. The specifications are nearly identical: same weight, same purity (.9999), same face value ($1 AUD). The differences are in design philosophy and production scale. The RAM changes its design every year, giving each vintage collector appeal similar to the Chinese Panda or Royal Mint Lunar series. The Perth Mint uses the same Stuart Devlin red kangaroo design year after year, providing consistency for stackers who want interchangeable units. Perth Mint production volumes are substantially higher, which typically translates to slightly lower premiums per ounce.

Against the Canadian Silver Maple Leaf, both coins share .9999 purity. The Maple Leaf has a fixed design, the RCM's MicroEngraved maple leaf security feature, a $5 CAD face value, and much higher global distribution. For pure liquidity and worldwide recognition, the Maple Leaf has the edge. The RAM Kangaroo offers something the Maple Leaf does not: annual design variety.

The silver Britannia provides UK legal tender status with CGT exemption for UK residents, at .999 purity. The Britannia's advanced security features (from 2021: surface animation, latent image, tincture lines, micro-text) are more sophisticated than the RAM's micro-engraving. For UK buyers, the Britannia's CGT exemption makes it more tax-efficient on disposal. For Australian buyers, the RAM Kangaroo's GST-free status and domestic availability make it the natural choice.

The American Silver Eagle offers the highest liquidity of any silver coin globally but at .999 purity and substantially higher premiums. The RAM Kangaroo provides the same fine silver content at a lower premium, with the bonus of higher purity. The Eagle's advantage is its unmatched resale recognition, particularly in the US market.