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About the 1 oz Argor-Heraeus Lunar Gold Bar
Swiss Zodiac Gold from One of the World's Largest Refiners
The 1 oz Argor-Heraeus Lunar Gold Bar is a limited-edition minted bar featuring a new Chinese zodiac animal design each year, produced by one of the five LBMA referee panel members for gold refining. Argor-Heraeus, founded in 1951 in Mendrisio in the Ticino canton of Switzerland, processes approximately 400 tonnes of gold annually, making it one of the largest gold refiners on the planet. The Lunar series represents a tiny fraction of that output, produced in deliberately limited quantities with mintage numbers that often incorporate the number 8, considered lucky in Chinese culture (recent mintages include 18,888 and 28,888 bars).
Each annual release features a detailed engraving of the zodiac animal for that year, rendered in a traditional Chinese artistic style. Recent designs include the Dragon (2024), Snake (2025), and Horse (2026). The Dragon year typically commands the highest premiums and largest mintages among zodiac animals, reflecting the dragon's supreme significance in Chinese culture as a symbol of power, strength, and good fortune.
At one troy ounce of 999.9 fine gold, the bar sits in the most liquid segment of the gold bar market. The limited-edition nature adds a collector dimension that plain bullion bars lack, though the premium over standard Argor-Heraeus bars is modest. For investors who want Swiss-refined LBMA gold with a design element that changes annually, the Lunar series offers an unusual combination of investment fundamentals and collectibility.
Argor-Heraeus Lunar Gold Bar Specifications
| Attribute | Detail |
|---|---|
| Weight | 1 troy ounce (31.1035 grams) |
| Purity | 999.9 fine gold (24 karat) |
| Manufacturer | Argor-Heraeus, Mendrisio, Switzerland |
| Parent company | Heraeus Group (since 1999) |
| Series | Lunar (Chinese Zodiac) |
| Mintage | Limited (varies by year) |
| Accreditation | LBMA Good Delivery, LBMA referee panel member |
| Legal tender | No |
| Face value | None |
Design and Packaging
The obverse carries Argor-Heraeus's mint logo and hallmarks arranged vertically: manufacturer name, Swiss origin marking, weight, content, purity, and serial number in the format XXXXX/total (showing position within the mintage run). The reverse features the annual zodiac animal design with the corresponding Chinese character in the lower corner. Each bar is sealed in a blistercard with assay certificate, providing tamper-evident packaging.
Recent zodiac designs include the Ox (2021), Tiger (2022), Rabbit (2023), Dragon (2024), Snake (2025), and Horse (2026). The design aesthetic is more understated and elegant compared with the bolder, more colourful presentations used by Perth Mint or PAMP on their zodiac products. The series is also available in smaller sizes (1g, 5g, and 10g), all at the same 999.9 purity, with mintage limits that vary by size and year.
Tax Treatment of the 1 oz Argor-Heraeus Lunar Gold Bar
Despite the limited-edition and collectible aspects of this bar, it is taxed as standard investment gold in all major jurisdictions. The thematic design does not trigger numismatic classification for tax purposes.
- United Kingdom: VAT-exempt as investment gold (999.9 fineness exceeds the 995 threshold). Subject to CGT at 18-24% on disposal. Not CGT-exempt (not UK legal tender).
- European Union/Switzerland: VAT-exempt as investment gold. Switzerland charges 0% VAT on investment gold. Germany exempts capital gains after a 1-year holding period.
- United States: No federal sales tax. Approximately 35 states exempt bullion. IRA-eligible (999.9 purity from LBMA-accredited refiner). Long-term capital gains taxed at the 28% collectibles rate.
- Canada: GST/HST-exempt at 99.5%+ purity.
- Australia: GST-free as investment-grade gold. Less commonly stocked than Perth Mint products but available through specialist dealers.
- Singapore: GST-exempt under the IPM scheme. Argor-Heraeus bars are stocked by Singapore dealers including LPM. No CGT.
- Hong Kong: No sales tax, no import duty, no CGT.
- New Zealand: GST-exempt for gold at 99.5%+ purity.
Argor-Heraeus Lunar vs PAMP Lunar and Perth Mint Lunar
The Argor-Heraeus Lunar bar has two primary competitors in the zodiac-themed bullion market. PAMP Suisse produces its own Lunar bar series in 999.9 gold across similar sizes. Both are Swiss LBMA-accredited products with limited mintages and annual zodiac designs. PAMP generally commands slightly higher premiums due to stronger retail brand recognition and the CertiPAMP authentication system. The design approaches differ: Argor-Heraeus favours an understated, engraved style, while PAMP tends toward more detailed, illustrative artwork.
The Perth Mint Lunar series is the dominant competitor in the broader zodiac bullion market, though it produces coins rather than bars. Perth Mint Lunar gold coins are legal tender in Australia ($100 AUD face value for the 1 oz), which provides CGT exemption for Australian investors. They carry higher premiums than either Swiss bar series, reflecting both the sovereign coin format and Perth Mint's 25+ year track record with the Lunar programme. For investors who value legal tender status and the associated tax benefits, Perth Mint coins are the clear choice. For those seeking the lowest premium on zodiac-themed gold, the Argor-Heraeus and PAMP bars are more efficient.
The 1 oz Asahi Lunar Gold Bar is a newer entrant, launched in 2023 with the 2024 Dragon design. Asahi's Lunar series is also LBMA-backed and available in gold bars, though it launched primarily as a silver product. The Argor-Heraeus Lunar has a longer track record and stronger collector following, but Asahi offers competitive pricing for buyers who prioritise metal content over collectible cachet. The Royal Mint's Shengxiao Lunar coins (UK legal tender, CGT-exempt in the UK) represent yet another option for UK-based investors who want zodiac theming with tax efficiency.
1 oz Argor-Heraeus Lunar Gold Bar: frequently asked questions
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The cheapest listing we track is $4,336.45 from Bullion Trading LLC, sitting around 4.0% over the $4,176.20 gold spot price for 1 oz of .9999 fine gold. Limited-edition themed bars like the Lunar series typically carry a slightly higher premium than Argor-Heraeus standard minted bars.
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Each Lunar bar carries a unique serial number formatted to show its position within the total mintage run, matched on the sealed assay card. The assay card itself provides tamper evidence. Argor-Heraeus does not currently operate a public online serial-number verification portal, so buying from an authorised dealer with the original sealed packaging is the primary authentication step.
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No. Heraeus is a German precious metals and technology group, while Argor-Heraeus is a separate Swiss refinery founded in 1951 in Mendrisio, Switzerland. Heraeus became a majority shareholder of Argor-Heraeus in 1999, so the two are related but operate as distinct entities. Argor-Heraeus holds its own LBMA Good Delivery accreditation and produces its own bar range independently.
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The Lunar series is an annual limited-edition range of .9999 fine gold minted bars from Argor-Heraeus, each featuring the Chinese zodiac animal for that year. Bars are available in 1g, 5g, 10g, and 1 oz sizes. Each bar is individually serialised and sealed in a numbered assay card. A new design follows the 12-year zodiac cycle, with mintage per size announced for each release.
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The Argor-Heraeus Lunar gold bar is refined to 999.9 fine gold, equivalent to 24 carat. This meets the LBMA Good Delivery standard and qualifies as investment-grade gold, making it VAT-free in the UK and across the EU.