RCM Lunar Silver

Royal Canadian Mint Lunar Series: Collector-Grade Silver with Limited Mintages

The Royal Canadian Mint (RCM) has produced Chinese zodiac-themed coins since 1998, making its lunar programme one of the longest-running in the world alongside the Perth Mint's Lunar series. The RCM Lunar coins in silver are available in multiple formats, including the 1oz silver, 1/2oz, and 1 Kilo sizes, all struck as Canadian legal tender.

The critical distinction between the RCM's lunar coins and the Perth Mint's is production philosophy. The Perth Mint produces lunar bullion in unlimited quantities for the mass market. The RCM limits mintages to specific numbers, often incorporating the number 8, which is considered lucky in Chinese culture. The 2025 Year of the Snake gold coin, for example, had a mintage of just 1,888 pieces. This makes RCM lunar coins semi-numismatic products that sit between pure bullion and collectibles.

The RCM has run multiple distinct lunar programmes rather than a single continuous series. The original $15 sterling silver cycle (1998-2009) completed a full 12-year zodiac rotation. Subsequent programmes included $150 18-karat gold proofs, $15 lotus-shaped silver coins with scalloped edges, and the current $100 pure gold bullion series launched in 2022. The silver coins similarly span multiple formats and purity levels across these programmes, from the original .925 sterling to the current .9999 fine standard.

RCM Lunar Silver Coin Specifications

The purity progression across programmes reflects the broader market trend toward higher fineness. The original 1998 sterling silver (.925) coins with gold-plated cameos were designed as collector pieces. Current releases at .9999 fine silver meet the highest purity standard available for silver coinage, matching the RCM's Silver Maple Leaf specification.

Each year's coin features the zodiac animal for that year in the Chinese lunar calendar, cycling through the twelve animals: Rat, Ox, Tiger, Rabbit, Dragon, Snake, Horse, Goat, Monkey, Rooster, Dog, and Pig. The RCM commissions entirely new designs for each programme iteration, so the same zodiac animal appears differently across the sterling, gold, and bullion programmes. The 2025 coin depicts the Year of the Snake; the 2026 coin is the Year of the Horse.

RCM Lunar Coin Tax Treatment

RCM Lunar coins are Canadian legal tender at their stated face values. This status affects their tax treatment in several jurisdictions.

Canada

Gold and silver bullion coins are exempt from GST/HST when they meet the purity threshold of 99.9% or higher. The .9999 silver versions qualify. The older sterling silver (.925) coins from the 1998-2009 programme do not meet the 99.9% threshold and may be subject to GST/HST, particularly if traded at numismatic premiums above their metal content. Qualifying coins are eligible for RRSP and TFSA accounts.

United States

The .9999 fine silver versions meet the IRS Section 408(m) requirement for precious metals IRA eligibility (silver must be at least 99.9% fine). The 18-karat gold coins (.750 purity) do not meet the gold purity requirement of 99.5% and are not IRA-eligible. Sales tax varies by state, with approximately 35 states exempting bullion purchases.

United Kingdom

Silver coins from non-UK mints carry 20% VAT. Gold versions are VAT-exempt as investment gold when they meet the criteria: legal tender, minted after 1800, purity of at least 900/1000. The .9999 gold RCM Lunar coins qualify for VAT exemption. Neither gold nor silver RCM Lunar coins are CGT-exempt in the UK, as that exemption applies only to UK legal tender (Britannia, Sovereign).

Australia

Investment-grade silver at 99.9% or higher purity from a recognised sovereign mint is GST-free. The .9999 silver RCM Lunar coins should qualify. The older sterling silver (.925) versions likely do not qualify for GST exemption.

RCM Lunar vs Perth Mint Lunar: Different Products for Different Buyers

The Perth Mint's Lunar series is the benchmark for zodiac-themed bullion coins. Series I ran from 1996 to 2007, Series II from 2008 to 2019, and Series III from 2020 to 2031. The Perth Mint offers a full weight range (1/20 oz to 10 kg in gold, 1/2 oz to 10 kg in silver) with open-ended mintages that make them mass-market bullion products. The buy/sell spread is tight, dealer availability is global, and the coins function primarily as a metal investment with zodiac design appeal.

The RCM Lunar programme operates on fundamentally different principles. Mintages are tightly limited (1,888 for some gold issues, specific caps for silver), formats vary by programme, and the coins lean toward the collector end of the spectrum. A buyer choosing between the two is really choosing between bullion liquidity (Perth Mint) and limited-edition collectibility (RCM).

For silver stackers building a zodiac collection, the Perth Mint offers continuity: three complete or in-progress 12-year cycles with consistent sizing and unlimited availability. The RCM offers variety: multiple distinct programmes with different formats (sterling with gold cameos, lotus-shaped coins, standard bullion strikes, kilo pieces) but less year-to-year consistency in the product line.

The UK Royal Mint launched its own lunar series in 2014 (the Shengxiao Collection) with 1oz gold and silver in .9999 purity and limited mintages, positioning it as another collector-oriented competitor. For UK buyers specifically, the Royal Mint version carries CGT exemption on the gold coins as UK legal tender, an advantage that neither the RCM nor Perth Mint versions can match in that market.