St Helena Three Graces Silver

William Wyon's 1817 Masterwork Recreated in Silver

The Three Graces is a Saint Helena legal tender coin recreating one of the most celebrated designs in British numismatic history. The original 1817 Three Graces pattern coin was created by William Wyon early in his career at The Royal Mint, depicting three classically garbed women representing the Graces of Greek mythology (Aglaia, Euphrosyne, and Thalia) while simultaneously symbolising England, Scotland, and Ireland. Only approximately 50 specimens of the original were ever struck, making them extraordinarily rare and valued at six-figure sums at auction.

The modern recreation, launched in 2021 as the first release in The East India Company's Masterpiece Collection, makes this design accessible to collectors who could never own an original. The 1 oz silver bar is the primary bullion format, struck in .999 fine silver with the EIC (East India Company) mint mark on the reverse. The coin is issued as legal tender of Saint Helena, a British Overseas Territory, with a face value denominated in Saint Helena pounds.

The East India Company brand behind this release is a modern luxury enterprise founded in 2010, operating under a name licensed from the UK Treasury. It has no operational continuity with the historical East India Company dissolved in 1874, though the brand's association with Saint Helena has historical depth: the original EIC received a charter to occupy the island in 1657, and Napoleon was exiled there under EIC supervision in 1815.

Three Graces Silver Specifications

The coin features Jody Clark's Commonwealth portrait of Queen Elizabeth II on the obverse, with "ST HELENA" legend and face value in Saint Helena pounds. The reverse is a faithful recreation of Wyon's Three Graces design with the distinctive EIC mint mark added: a three-armed crosslet incorporating the letters E, I, and C.

Proof finish provides mirror-like fields with frosted raised elements, and each coin comes encapsulated in a presentation case with a certificate of authenticity. The series has been submitted for NGC and PCGS grading, with early releases achieving PF69 and PF70 grades. Gold proof versions were also produced (1 oz at 400 pieces, 2 oz at 250 pieces), along with rectangular bar formats (10 oz, 250 g) that feature the East India Company ship design rather than the Three Graces motif. The limited mintage of 3,000 for the 1 oz silver proof is genuinely low for a coin in this market segment.

Three Graces Tax Treatment by Country

The Three Graces shares the same tax characteristics as other Saint Helena coins: legal tender of a British Overseas Territory, which provides some tax benefits but critically not UK CGT exemption.

• United Kingdom: Gold editions are VAT-exempt as investment gold. Silver editions carry 20% VAT. Not CGT-exempt because Saint Helena legal tender is not UK legal tender. This is a meaningful distinction, as the Royal Mint's own Three Graces (2020, from the Great Engravers series) is UK legal tender and therefore CGT-exempt on gold versions. UK buyers choosing between the two versions should factor in this tax difference.
• European Union: Gold versions are VAT-exempt under the EU Investment Gold Directive. Silver subject to local VAT rates.
• United States: The .999 purity meets IRA requirements under Section 408(m). However, the proof finish and limited mintage mean many custodians and dealers may treat these as collectibles rather than bullion, which can affect IRA eligibility and sales tax treatment in some states.
• Canada: GST/HST exempt on investment-grade gold and silver at 99.5%+ purity in coin form.
• Australia: Investment gold GST-exempt. Silver at .999 meets the 99.9% threshold for GST exemption.
• Hong Kong: No sales tax or import duty. The absence of any consumption tax makes Hong Kong one of the most favourable jurisdictions for silver bullion purchases.

St Helena Three Graces vs Royal Mint Three Graces and Other Collector Silver

The most direct comparison is with the Royal Mint's own Three Graces coin, issued in 2020 as part of the Great Engravers series. Both recreate the same William Wyon original from 1817. The Royal Mint version is UK legal tender, giving it CGT exemption on gold editions. The Saint Helena version has the EIC mint mark, different face values, and the East India Company provenance, but no UK CGT benefit. For UK gold buyers specifically, the Royal Mint version is more tax-efficient. For silver buyers, both carry 20% VAT and neither offers CGT exemption (the Royal Mint silver version shares the VAT liability).

The Three Graces sits within a broader ecosystem of Saint Helena coins from the East India Company brand, including the Queen's Virtues and Una and the Lion. All share the same issuing authority, similar tax characteristics, and the EIC branding. Collectors drawn to one series tend to collect across the range.

Against mainstream silver bullion like the Silver Britannia or Silver Maple Leaf, the Three Graces occupies a completely different market position. It trades at substantial premiums above spot due to proof finish, limited mintage, and numismatic appeal. Buyers seeking silver weight at low premiums should look to standard bullion. The Three Graces appeals to collectors who value the historical significance of Wyon's design, the limited production numbers, and the presentation quality.

The 5 oz silver proof, limited to just 300 pieces, is the scarcest format and has the strongest secondary market premium trajectory. The 1 oz silver at 3,000 mintage is more accessible but still genuinely limited by bullion standards, where mainstream coins are produced in the millions.