RAM Koala Silver

Australia's Official Mint Enters the Koala Bullion Market

The RAM Koala is a new annual bullion coin series from the Royal Australian Mint (RAM) in Canberra, launched in 2024. It is entirely separate from the Perth Mint's long-running Koala series, which has been in production since 2007. The distinction matters: RAM is the national mint of the Commonwealth of Australia (responsible for all circulating coinage), while the Perth Mint is a state government enterprise of Western Australia that dominates Australia's bullion market. Both now produce koala-themed bullion, creating an unusual intra-country competitive dynamic.

The silver version is struck in 1 oz .999 fine silver with a $1 AUD face value and a mintage of 25,000 per year. A 1 oz .9999 fine gold version carries a $100 AUD face value with just 1,000 coins per year, making it one of the lowest-mintage 1 oz gold bullion coins from any sovereign mint. A high-relief silver proof (limited to 3,000-3,500 pieces) is also produced annually.

The silver purity of .999 is a deliberate choice that places the RAM Koala below the Perth Mint Koala's .9999 (four nines, used since 2018). For most buyers, the practical difference between .999 and .9999 is negligible in terms of metal content, but the four-nine purity is a marketing advantage for the Perth Mint and can matter at the margins for certain tax exemption thresholds (such as Australia's 99.9% GST-free threshold, where .999 sits exactly at the boundary).

The 2024 inaugural issue carries additional collector interest as the last Royal Australian Mint coin to feature Queen Elizabeth II's effigy. The 2025 issue transitioned to the first official King Charles III effigy on Australian coins, designed by Dan Thorne.

RAM Koala Specifications by Format

RAM Koala vs Perth Mint Koala at a Glance

Of the 25,000 silver coins minted per year, approximately 20,000 are distributed worldwide through international dealer networks, with 5,000 retained for the Australian domestic market. The gold coins also feature "triple security protection" (specific features not publicly detailed) and are stated to be made from ethically sourced Australian gold.

RAM Koala Tax Treatment by Country

As Australian legal tender from the Royal Australian Mint, the Koala benefits from sovereign-coin status across most markets. The gold and silver versions have different treatment in several jurisdictions.

Australia

The gold version is GST-free as investment gold exceeding the 99.5% purity threshold. The silver version at .999 sits precisely at the 99.9% threshold for GST-free investment silver. In practice, the Royal Australian Mint's own products should qualify, but the threshold-line purity is worth noting. Capital gains tax applies on disposal, with a 50% discount for individuals holding assets longer than 12 months.

United Kingdom

Gold coins are VAT-exempt as investment gold. Silver coins are subject to 20% VAT on purchase. Neither version is CGT-exempt because the RAM Koala is not UK legal tender. For UK buyers seeking silver with CGT advantages, the 1 oz Silver Britannia is the relevant option. Gold investors comparing the RAM Koala with the Gold Britannia should note the Britannia's CGT exemption advantage for UK residents.

United States

The gold version at .9999 purity exceeds the IRS Section 408(m) minimum of 99.5% for gold IRA holdings. The silver version at .999 meets the 99.9% minimum for silver IRAs. Government-issued legal tender status from Australia supports IRA custodian acceptance. State sales tax treatment varies; approximately 35 states exempt precious metals. Long-term capital gains are taxed at the 28% collectibles rate.

Canada

Both metals qualify for GST/HST exemption as investment bullion exceeding the 99.9% purity threshold. The coins may qualify for RRSP or TFSA inclusion depending on custodian acceptance of RAM products. Canadian buyers more commonly hold Silver Maple Leaf coins for retirement account purposes.

Singapore and Hong Kong

Singapore exempts Investment Precious Metals from the 9% GST. The RAM Koala should qualify as a legal tender coin meeting the purity requirements. Hong Kong has no sales tax, import duty, or capital gains tax on precious metals.

The Newest Koala in Australian Bullion

The RAM Koala programme represents the Royal Australian Mint's push into the international bullion market, a space historically dominated by the Perth Mint within Australia. RAM in Canberra produces Australia's circulating coins, commemorative issues, and collector coins, but international bullion has been Perth Mint's domain since the early 1990s. The Koala series is RAM's statement that the national mint intends to compete.

The 2024 inaugural design features a single koala on a eucalyptus branch, looking left amidst a forest background. This was the first koala ever produced on a Royal Australian Mint coin. The obverse carries the effigy of Queen Elizabeth II, making the 2024 issue historically notable as the last RAM coin to feature Her Majesty's likeness. Each subsequent year features a new koala design, following the annual-design-change model established by many Australian bullion series.

The 2025 release transitioned to the first official effigy of King Charles III on Australian coins, designed by Dan Thorne. The King is depicted without a crown in a left-facing profile, a departure from the crowned portraits used for Queen Elizabeth II. A new koala reverse design accompanied the obverse change.

The 2026 release features three koalas nestled among eucalyptus branches, with eucalyptus leaves forming a background pattern. The design approach has shifted from a single animal to more complex compositions as the series matures.

The RAM's design style tends toward contemporary Australian art, distinguished from the Perth Mint's more traditional approach. The annual design changes give each vintage a distinct identity, which can drive collector interest for specific years. The 2024 Dragon year in RAM's Lunar series demonstrated that new RAM bullion products can generate significant demand when the design year aligns with collector preferences.

RAM Koala vs Perth Mint Koala and Other Sovereign Silver

RAM Koala vs Perth Mint Koala

The Perth Mint Koala has been running since 2007, giving it a 17-year head start in brand recognition and secondary market depth. Perth Mint's silver version uses .9999 purity (vs RAM's .999), and the range extends from 1/10 oz to 1 kg (vs RAM's 1 oz only). Perth Mint's annual silver mintage cap of 300,000 is twelve times RAM's 25,000, providing greater liquidity. For investment-focused buyers who prioritise resale ease and product recognition, the Perth Mint Koala is the established choice. The RAM Koala's lower mintages create potential collector premiums, and the backing of Australia's official national mint (vs Perth Mint's state government status) carries prestige value. The competition between the two mints is a live topic in the Australian stacking community.

RAM Koala vs Canadian Silver Maple Leaf

The Silver Maple Leaf at .9999 purity is the global benchmark for silver bullion. Its unlimited mintage, MicroEngraved security feature, and worldwide dealer network give it unmatched liquidity. The RAM Koala's 25,000 mintage and annual design changes position it as a collectible-bullion crossover rather than a pure investment product. Buyers comparing the two should decide whether they value lower premiums and maximum liquidity (Maple Leaf) or limited mintages and changing designs (RAM Koala).

RAM Koala vs Silver Britannia

The Silver Britannia from the Royal Mint uses .999 purity (matching RAM) and offers CGT exemption for UK buyers as UK legal tender. The RAM Koala has no equivalent tax advantage in any country. For UK buyers, the Britannia's CGT-free status is a decisive practical advantage. For Australian buyers, the RAM Koala's domestic origin and GST-free status make it the natural choice.

RAM Koala Gold vs Other 1 oz Gold Coins

With just 1,000 coins per year, the RAM Koala gold is genuinely scarce for a sovereign-mint product. The 1 oz Gold Kangaroo from Perth Mint has far higher mintages and global liquidity. The RAM Koala gold is better positioned as a collectible with bullion backing than as a core gold holding. For buyers building a gold position at the lowest premium, higher-mintage sovereign coins remain more efficient.