1 oz Jerusalem Silver Round

Holy Land Mint Jerusalem Silver Round

The 1 oz Holy Land Mint Jerusalem silver round is an annual release from Israel's official national mint, featuring the Dove of Peace motif that has become the mint's signature bullion design since 2014. Each round contains one troy ounce of .999 fine silver and depicts a dove carrying an olive branch above the Old City of Jerusalem skyline, a symbol rooted in the biblical story of Noah and tied to the broader aspiration for peace in the region.

The Holy Land Mint (officially the Israel Coins and Medals Corporation, ICMC) was established in 1958 by Prime Minister David Ben-Gurion as the official mint and medal producer for the State of Israel. It operated under full government ownership for 50 years before being privatised in 2008 through acquisition by G.R.A.S. Design Combinations Ltd. That institutional history gives the mint a pedigree unusual for a producer of non-legal-tender rounds. Unlike most private mints, this one has served as a national coinage facility for decades and continues to produce legal tender commemorative coins for the Bank of Israel alongside its bullion products.

The 2024 issue marked the 10th anniversary of the Dove of Peace bullion series, celebrated with a special privy-mark edition limited to 10,000 pieces. The round is available through major US dealers including APMEX, Bold Precious Metals, JM Bullion, and Provident Metals, with the American market representing the primary export audience.

Jerusalem Round Technical Specifications

Design Details

The obverse depicts an artistic rendition of the Old City of Jerusalem skyline, with its iconic walls, domes, and towers. A dove in flight above the city carries an olive branch in its beak. The word "JERUSALEM" appears as part of the imagery. The composition is consistent across annual releases, with the year updated each edition.

The reverse bears the Holy Land Mint logo with inscriptions stating "JERUSALEM," "THE HOLY LAND MINT," the year of issue, "ONE TROY OUNCE," and ".999 FINE SILVER." The 2024 10th anniversary edition added special "DOVE OF PEACE" and "10TH ANNIVERSARY" inscriptions.

The series is also available as a 1 kilo silver bar and in gold versions (1/10 oz and 1 oz rounds), using the same Dove of Peace design across formats. The 1 kilo bar offers a lower per-ounce premium for buyers seeking larger positions in the design.

Tax Status for the Jerusalem Silver Round

The Jerusalem round is not legal tender. It carries no face value and no government-backed denomination, despite being produced by Israel's official national mint. This classification as a round rather than a coin determines its tax treatment across all markets.

• United States: Subject to state-level precious metals sales tax rules (approximately 35 states exempt bullion). Capital gains taxed at the 28% federal collectibles rate for precious metals. IRA eligibility is uncertain; the round is not government-issued legal tender, and while .999 purity meets the minimum threshold, IRA custodians typically require products from approved lists of sovereign coins or LBMA/COMEX-accredited refiners.
• United Kingdom: Subject to 20% VAT on purchase. Not CGT-exempt (not legal tender). The margin scheme may apply to pre-owned examples purchased from UK dealers.
• European Union: Subject to standard VAT rates (17-27% depending on country). Does not qualify for the investment silver coin exemption as it is not legal tender.
• Canada: Subject to GST/HST. May qualify for the precious metals exemption if classified as refined bullion (99.9%+ purity in coin or wafer form), though the non-legal-tender status introduces ambiguity.
• Israel: Available directly from the Holy Land Mint's retail operations.

The Holy Land Mint's separate "Jerusalem of Gold" series (legal tender coins for the Bank of Israel at .9999 gold, limited to 3,600 per issue) does carry legal tender status. Buyers seeking better tax treatment should note this distinction between the legal tender coins and the non-legal-tender rounds.

Jerusalem Round vs Other National Mint Bullion Rounds

The Jerusalem round occupies an unusual position: produced by an official national mint but without legal tender status, giving it institutional credibility without the tax advantages of sovereign coinage.

Vs Perth Mint Silver Rounds: The Perth Mint produces various silver programmes, almost all carrying Australian legal tender status. This gives Perth products GST-free treatment in Australia, IRA eligibility in the US, and broader dealer acceptance globally. The Holy Land Mint's round lacks these advantages but trades at comparable or slightly lower premiums.

Vs Scottsdale Mint Programmes (Gibraltar, Congo): Scottsdale strikes legal tender coins for small nations, providing sovereign status that the Jerusalem round lacks. The Gibraltar Lady Justice series, for example, carries a £1 face value. The Jerusalem round compensates with the institutional weight of a 65-year-old national mint, even without a denomination on the round itself.

Vs Generic Private Mint Rounds: Generic 1 oz silver rounds from US private mints trade at minimal premiums above spot. The Jerusalem round carries a modest premium above generics, justified by the Holy Land Mint's institutional history and the annual-release collectibility. The consistent Dove of Peace design across years creates a recognisable brand that aids secondary market recognition.

Vs Government Holiday/Commemorative Coins: The Royal Canadian Mint and other sovereign mints issue annual commemorative coins with limited mintages and legal tender status, typically at higher premiums. The Jerusalem round is positioned below these in price but above commodity rounds, targeting buyers who want an annual collectible from a credible institution without paying for legal tender status.