2 oz Walking Liberty Silver Round

The 2 oz Walking Liberty Silver Round from Golden State Mint

The Walking Liberty design originated in 1916 when sculptor Adolph A. Weinman created the obverse for the US half dollar, depicting Liberty striding toward the sunrise draped in the American flag, carrying laurel and oak branches symbolising civil and military glory. The design remained on the half dollar until 1947 and was revived in 1986 for the American Silver Eagle. Since the original artwork entered the public domain, numerous private mints have produced their own Walking Liberty rounds.

Golden State Mint, based in Westlake Village, California, produces the 2 oz version alongside an extensive range of Walking Liberty products spanning from 1/10 oz fractional rounds to 5 oz rounds and bars up to 10 oz. The 2 oz round is struck in .999 fine silver and represents the value-focused end of the 2 oz silver round market, with premiums typically lower than government-issued coins or limited-mintage art rounds.

Walking Liberty rounds occupy a specific niche: the lowest-premium silver available in a coin-like format. Buyers choosing these rounds prioritise maximum silver content per dollar spent, accepting the trade-off of no legal tender status, limited security features, and somewhat lower resale liquidity compared to sovereign mint products.

2 oz Walking Liberty Round Specifications

The obverse closely replicates Weinman's original Walking Liberty composition: Liberty striding toward the sunrise, draped in the American flag, carrying laurel and oak branches that symbolise civil and military glory. The design entered the public domain as a pre-1927 work, allowing any private mint to reproduce it freely. Reverses vary by manufacturer and typically feature the mint's logo, purity marking, and weight statement rather than a standardised design.

Unlike Sunshine Mint's 1 oz Walking Liberty round, which includes the proprietary MintMark SI security feature (a micro-engraved mark visible only with a decoder lens), Golden State Mint rounds do not include dedicated authentication technology. Verification relies on basic physical testing: weight (62.207 g), diameter measurement, and the magnet slide test. A rare earth magnet should slide slowly down a tilted silver round due to silver's diamagnetic properties; ferrous fakes stick, while lead or tin fakes slide at the wrong speed.

Walking Liberty Round Tax Treatment

Walking Liberty rounds are private mint products with no government backing. This classification carries consistent tax consequences across jurisdictions.

• US: Not IRA-eligible. The IRS requires silver IRA holdings to come from a national government mint or a COMEX/NYMEX-approved refiner. Golden State Mint does not carry this approval. Capital gains on sale are taxed at the 28% collectibles rate for long-term holdings. Sales tax varies by state, with approximately 35 states exempting bullion purchases entirely.
• UK: 20% VAT on purchase. Not CGT-exempt. No tax advantage over bars. UK buyers seeking tax efficiency on silver have limited options: the Silver Britannia provides CGT exemption, and pre-owned silver under the margin scheme reduces effective VAT to near zero.
• Canada: GST/HST exempt at .999 purity.
• Australia: GST-free at .999+ purity from accredited refiners. Golden State Mint's accreditation status would determine eligibility.
• EU: Full VAT at local rates (17-27%). No margin scheme benefit on new rounds.

Walking Liberty 2 oz vs Alternatives at This Weight

The 2 oz Walking Liberty round is positioned at the value end of the spectrum. Its .999 purity is below the .9999 offered by the 2 oz Texas Silver Round or the 2 oz Tudor Beasts from the Royal Mint. The trade-off is price: Walking Liberty rounds from Golden State Mint are among the lowest-premium 2 oz silver products available.

For US buyers, the critical limitation is IRA ineligibility. Buyers building a precious metals IRA should look to sovereign coins or rounds from COMEX-approved refiners like Sunshine Minting. For straightforward silver accumulation outside retirement accounts, the Walking Liberty offers more metal per dollar.

Against the 1 oz Walking Liberty (available from 16 dealers vs 2 for the 2 oz version), the larger format offers slightly better per-ounce economics but significantly fewer purchasing options. The 1 oz version's massive production volume from multiple mints and broader dealer availability make it more liquid on resale. The 2 oz format appeals to buyers who want the familiar Walking Liberty design with slightly reduced transaction overhead per ounce of silver acquired.