1 oz Wedge-Tailed Eagle Silver Round

Mercanti's Australian Eagle on Perth Mint Silver

The 1 oz Perth Mint Wedge-Tailed Eagle is an annual silver bullion coin designed by John M. Mercanti, the 12th Chief Engraver of the United States Mint. This was the first time a former US Mint Chief Engraver designed a coin for a foreign mint, and Mercanti himself described it as "one of the highlights of my career." The series launched on 7 January 2014 and has continued annually with new reverse designs showing the wedge-tailed eagle in different postures: swooping, perched, soaring, wings spread for flight.

The wedge-tailed eagle is Australia's largest bird of prey and one of the largest eagles in the world, with a wingspan reaching 2.3 metres. It appears on this series as a symbol of freedom, spirit, and vision. Each coin contains one troy ounce of .9999 fine silver, matching the purity of the Canadian Maple Leaf and exceeding the American Silver Eagle (.999) and the Britannia (.999). Silver bullion mintage is capped at 50,000 per year (from 2018 onward, after unlimited mintage during 2015-2017), making it significantly scarcer than most sovereign bullion programmes.

The 2026 release introduced a historic first: two eagles appearing together on the coin, pairing the Australian wedge-tailed eagle with an American bald eagle. This dual-eagle design explicitly bridges Australian and American numismatic traditions, reinforcing the series' unique cross-border identity as an Australian coin designed by an American legend.

Wedge-Tailed Eagle Bullion Specifications

The Perth Mint's micro-laser engraved authentication letter is visible under magnification on the reverse, providing a standard anti-counterfeiting measure consistent with other Perth Mint bullion products. This security feature is small enough to be invisible to the naked eye but detectable under 10x magnification, offering verification without affecting the coin's visual design.

High-relief proof versions are produced separately at 99.9% purity (slightly lower than the BU bullion) with mintages of 10,000-20,000 per year. The inaugural 2014 gold high-relief proof had only 1,000 coins minted. Mercanti personally signs NGC/PCGS slabbed examples of this series, which command significant premiums in the graded coin market above raw bullion pricing. The 40.90mm diameter is slightly larger than the 39mm standard used by most other 1 oz silver coins, which may require non-standard capsules.

Wedge-Tailed Eagle Tax Treatment by Country

As Australian legal tender under the Currency Act 1965, the Wedge-Tailed Eagle receives favourable tax treatment in several jurisdictions. The $1 AUD face value is nominal (the silver content is worth far more), but the legal tender classification has real tax consequences that distinguish it from private mint rounds.

• Australia: Gold versions are GST-free at 99.5%+ purity. Silver versions attract 10% GST despite being investment-grade (99.99% purity). Australia's GST exemption for silver at 99.9%+ purity requires the product to be in a form "commonly traded on commodity markets," which bullion coins from the Perth Mint satisfy. Available direct from the Perth Mint and major Australian dealers. Capital gains subject to 50% CGT discount if held over 12 months.
• United Kingdom: Gold versions qualify as VAT-exempt investment gold. Silver typically sold under the margin scheme by UK dealers (pre-owned examples). Not CGT-exempt since it is not UK legal tender. The coin's government-backed status helps with dealer acceptance and authentication confidence but provides no CGT advantage over other silver products. Annual CGT allowance (£3,000) applies.
• United States: The .9999 purity exceeds the IRS .999 threshold for silver in precious metals IRAs. As government-issued legal tender, it qualifies for IRA inclusion without the accredited-refiner requirement that applies to private mint products. Particularly popular with US collectors due to the Mercanti connection. Sales tax varies by state; most states exempt bullion. Capital gains at 28% collectibles rate.
• Canada: GST/HST exempt as a foreign legal tender coin exceeding the 99.9% purity threshold. No provincial variation on this federal exemption.
• New Zealand: GST-exempt as silver at 99.9%+ purity in coin form under fine bullion rules.
• Singapore: Qualifies for the Investment Precious Metals (IPM) GST exemption as a qualifying silver coin at 99.9%+ purity from an established sovereign mint.

From Mercanti's Pen to Perth Mint Production

John Mercanti joined the United States Mint in 1974 and served as its 12th Chief Engraver from 2006 to 2010, producing more coin and medal designs than any employee in US Mint history (over 100 as of 2006). His most famous work is the heraldic eagle reverse of the American Silver Eagle, the world's most traded silver bullion coin. The Wedge-Tailed Eagle series represents Mercanti's first design work for a foreign mint, creating a deliberate connection between Australia's premier mint and America's most prolific coin designer.

The inaugural 2014 design depicted a wedge-tailed eagle swooping in left profile toward a dead tree branch, wings partially extended. The 50,000-mintage silver bullion sold out rapidly, prompting the Perth Mint to switch to unlimited mintage for 2015-2017 before reverting to the 50,000 cap from 2018 onward. The design changes annually, with the 2016 release showing a resting eagle post-landing (driven by collector demand for variety), and subsequent years continuing to explore different postures and compositions.

The 2023 issue marked the transition to a memorial obverse for Queen Elizabeth II with dates "1952-2022," followed by Dan Thorne's King Charles III portrait from 2025. The 2026 release broke new ground with a dual-eagle composition: the Australian wedge-tailed eagle alongside an American bald eagle, explicitly uniting the two national symbols and acknowledging the series' cross-border heritage. This was marketed as the first time two eagles have appeared together on the series, linking Australia's national bird with America's in recognition of Mercanti's role bridging both countries' numismatic traditions.

Wedge-Tailed Eagle vs Other Perth Mint Silver

The Perth Mint produces several annual silver bullion series, each with distinct characteristics that appeal to different buyer profiles. The Wedge-Tailed Eagle's unique selling point is the Mercanti provenance and limited 50,000 mintage, which together create stronger secondary market premiums than the mint's other silver offerings.

The Perth Mint Kookaburra shares .9999 purity and annual design changes, but with unlimited mintage. More metal enters the market each year, keeping premiums lower and reducing the scarcity value that drives collector interest. The Kookaburra has a longer history (since 1990) and broader name recognition among Australian bullion buyers, but the Wedge-Tailed Eagle's capped production makes each year's release more likely to appreciate beyond melt value.

The 1 oz Scottsdale Mint The Wild also features predatory birds and animals but is a private mint round without legal tender status. The Wedge-Tailed Eagle's government backing, .9999 purity, micro-laser authentication, and limited mintage place it in a different tier entirely, with correspondingly higher premiums and stronger resale prospects.

For US collectors specifically, the Mercanti connection creates unique crossover appeal with the American Silver Eagle market. Graded examples with Mercanti's personal signature on the slab label command significant premiums, creating a secondary market dynamic that no other Perth Mint series can replicate. The 2026 dual-eagle design explicitly markets to this US-Australian collector crossover demographic.