1 oz Noah's Ark Silver Coin

The 1 oz Noah's Ark Silver Coin

The Noah's Ark is Armenia's first and only investment-grade bullion coin, issued by the Central Bank of the Republic of Armenia since 2011 but struck in Germany by Leipziger Edelmetallverarbeitung (LEV), part of the Geiger Edelmetalle group. That unusual arrangement, a sovereign coin from one of Germany's most modern private minting facilities, is the key to its market position: German manufacturing quality at a non-premium price, making it one of the lowest-premium sovereign-backed silver coins in European markets.

The 1 oz coin is the flagship of the range, containing 31.1035 grams of .999 fine silver with a 500 Dram face value, and over 5 million Noah's Ark silver coins have been distributed across more than 20 countries since launch; 1 oz production peaked at 1.66 million pieces in 2021. The design has never changed since 2011, a deliberate choice mirroring the Maple Leaf and Philharmonic approach, where continuity builds recognition and liquidity.

Two practical features stand out for stackers. Tax treatment in the UK and Germany is favourable: pre-owned coins frequently sell under the margin scheme, keeping the effective tax low, which is why UK dealers stock them widely. And the tubes themselves work harder than most: the HQC system seals 20 coins in protective gas that prevents tarnishing for as long as the tube remains unopened. For buyers comparing low-cost sovereign silver, the natural benchmark is the 1 oz Silver Philharmonic.

Noah's Ark 1 oz Specifications and the Wider Range

The silver range runs from 1/4 oz to a 5 kg giant, one of the largest regularly produced bullion coins by weight at 149.62mm across. The obverse carries the Armenian coat of arms, a shield held by a lion and eagle representing the ancient Bagratid and Rubenid kingdoms, plus face value, fineness, weight, year, and the LEV mint mark. The reverse shows the ark at centre, a dove carrying an olive branch, and Mount Ararat rising before a sunrise, with NOAH'S ARK in Armenian and English.

Bullion coins ship in HQC (High Quality Conservation) tubes of 20, filled with protective gas that prevents tarnish and oxidation while the seal stays intact; once opened, the protection ends. The coins are struck from LBMA-certified materials, and proof editions add consecutive numbering, destruction-only capsules, and a Central Bank of Armenia certificate.

Noah's Ark Tax Treatment by Country

The Noah's Ark's tax story is a large part of its popularity in Europe.

• United Kingdom: New coins attract 20% VAT, as all new silver does, and the coin is not CGT-exempt (no sterling face value). The advantage is on the secondary market: pre-owned Noah's Arks are frequently sold under the margin scheme, where VAT applies only to the dealer's margin rather than the full price, making them among the more tax-efficient silver coins available in the UK. This is why UK dealers stock them so widely.
• Germany and the EU: Germany applies the margin scheme (Differenzbesteuerung) to these coins, and the German manufacturing origin supports a strong dealer network; treatment elsewhere in the EU varies by country, with full local VAT the default on new silver.
• United States: No federal sales tax; state exemptions vary, with most states exempting bullion. Capital gains on silver are taxed at the collectibles rate of up to 28% for long-term holdings.
• Canada: Silver refined to 99.9% or better in coin form is GST/HST-exempt federally, which the .999 Noah's Ark meets.
• Armenia: As domestic legal tender, the coins are exempt from VAT within Armenia itself.

A Sovereign Coin Struck a Continent Away

Armenia launched the Noah's Ark in 2011 as its first investment bullion coin, with an arrangement almost unique in the sovereign coin world: lacking a modern bullion minting facility of its own, the Central Bank of Armenia contracted production to Leipziger Edelmetallverarbeitung in Germany. LEV became part of the Geiger Edelmetalle group in 2018, and its LEV mint mark appears on every coin's obverse. Most sovereign coins are struck at national mints; the Noah's Ark is the notable exception that has worked.

The design, by Eduard Kurghinyan, reaches deep into Armenian identity. Armenia adopted Christianity in 301 AD, the first nation to do so officially, and the biblical ark narrative is bound to Mount Ararat, which dominates the coin's reverse. The mountain itself lies in modern Turkey, yet appears on Armenia's coat of arms and on this coin, an enduring cultural and territorial statement rendered in silver.

The silver range launched in 2011 with 1/4 oz, 1/2 oz, and 1 oz sizes; 5 oz, 10 oz, 1 kg, and 5 kg followed in 2012. Gold versions arrived as limited proofs in 2017, with bullion-grade gold from September 2020. The design has never changed, and volume has grown steadily: over 5 million silver coins distributed across 20-plus countries, with the 1 oz peaking at 1.66 million pieces in 2021. Proof distribution is split evenly, 1,000 sets to the Armenian Central Bank and 1,000 to the European market through Geiger.

Noah's Ark vs Philharmonic, Maple Leaf, and Britannia

The Noah's Ark competes at the value end of the sovereign silver coin market, and its closest peer is the Austrian Silver Philharmonic: both are .999 fine, European-minted, and among the lowest-premium government coins available. The Philharmonic has the longer record and EU-sovereign status; the Noah's Ark typically counters on price and on margin scheme availability in the UK and Germany.

The 1 oz Silver Maple Leaf offers higher purity at .9999 plus micro-engraved security features added since 2014, with greater global liquidity and generally low premiums of its own. The 1 oz Silver Britannia brings advanced security features from 2021 and, decisively for UK taxpayers, CGT exemption, at consistently higher premiums. The American Silver Eagle has the highest global demand and typically the highest premiums of the group; in the US the Noah's Ark trades as the budget alternative, less liquid than Eagles or Maples but competitive on cost.

The Noah's Ark's distinct advantages are concrete: German strike quality at a non-premium price, margin scheme tax treatment that makes pre-owned coins notably cheap in the UK and EU, and the gas-sealed HQC tubes that keep coins tarnish-free in storage. Its weaknesses are the flip side: no advanced security features, no CGT exemption anywhere outside Armenia's borders matters, and thinner liquidity in North America. For European stackers buying silver by the tube, it is regularly the cheapest sovereign option on the page.