1.5 oz Arctic Fox Silver Coin

The 1.5 oz RCM Arctic Fox Silver Coin

The 1.5 oz Arctic Fox is a 2014 silver bullion coin from the Royal Canadian Mint, part of the RCM's Canadian Arctic wildlife programme. It contains 1.5 troy ounces of .9999 fine silver with a face value of $8 CAD, struck at the same 38 mm diameter as the Silver Maple Leaf but with increased thickness (4.5 mm vs 3.29 mm) to accommodate the extra half-ounce of silver.

The Arctic Fox was the second coin in the RCM's 1.5 oz format, following the Polar Bear in 2013. The format was a deliberate differentiation: 50% more silver than a standard 1 oz coin, fitting the same capsule size, at a per-ounce premium competitive with the Maple Leaf. This made it an efficient way to accumulate silver weight while getting an original wildlife design from a respected sovereign mint.

The reverse, designed by Maurice Gervais, depicts an Arctic fox perched at the edge of the tundra, gazing over its shoulder against a windswept landscape with a distant tree line. The Arctic fox (Vulpes lagopus) has one of the warmest pelts of any animal, with fur that changes from brown/grey in summer to pure white in winter. The coin's winter-setting design references this camouflage adaptation.

This is a discontinued product. The Arctic Fox was a 2014-only release and is now available exclusively on the secondary market. Remaining dealer stock represents unsold inventory from the original production run. Secondary market premiums may exceed those of in-production RCM bullion like the Silver Maple Leaf or the 1.25 oz Bison, reflecting the discontinued status and the fixed supply of existing coins.

1.5 oz Arctic Fox Silver Specifications

The coin includes RCM radial lines (micro-engraved background pattern) as a standard anti-counterfeiting measure. A separate 1 oz silver proof version exists (mintage 7,500), but this is a distinct product with different weight, finish, and design details. A 1/4 oz gold version ($10 CAD, .9999 gold) was also produced in the same programme.

The $8 face value, unusual for Canadian coinage, was created specifically for the 1.5 oz silver format, scaling from the $5 denomination of the 1 oz Maple Leaf. Coins were packaged in individual plastic flips with inner packs of 15. The Arctic fox design captures the animal's winter coat in fine detail, with the windswept tundra landscape rendered across the full field of the reverse. The bilingual inscriptions "FINE SILVER 1 1/2 OZ ARGENT PUR" confirm both the weight and purity in English and French, as required by Canadian law.

Tax Treatment of the 1.5 oz Arctic Fox

As a discontinued RCM legal tender coin, the Arctic Fox's tax treatment remains based on its .9999 purity and Canadian legal tender status, identical to in-production RCM bullion.

• Canada: GST/HST exempt as RCM legal tender silver at 99.9%+ purity. Capital gains on disposal are taxable at the 50% inclusion rate.
• United States: IRA-eligible. The .9999 purity exceeds IRS requirements for precious metals IRAs. Widely stocked by US dealers, including those specialising in IRA-eligible products. Most states exempt investment bullion from sales tax. Capital gains at the 28% collectibles rate.
• United Kingdom: 20% VAT on purchase. Not CGT-exempt. Available from UK dealers stocking RCM products.
• Australia: GST-free for investment-grade silver at 99.9%+ purity.
• New Zealand: GST-exempt at 99.9%+ purity. No capital gains tax.
• Singapore: GST-exempt under IPM for silver coins at 99.9%+ purity from recognised mints.
• Hong Kong: No sales tax, import duty, or capital gains tax.

Arctic Fox vs Other RCM Wildlife Silver Coins

The Arctic Fox sits within a broader family of RCM wildlife bullion coins, each with different weights, mintage structures, and market positioning.

The 1.25 oz Bison is the closest in-production comparison. Both share .9999 purity and the 38 mm diameter, but the Bison contains 0.25 oz less silver per coin (1.25 vs 1.5 oz). The Bison is minted to order with no production ceiling; the Arctic Fox had a finite production run and is now secondary market only. The Bison is the practical stacking choice; the Arctic Fox adds a collector premium for its discontinued status.

The 1.5 oz Grizzly Bear from the earlier Canadian Wildlife Series (2011) shares the same 1 oz format at .9999 purity but with a 1,000,000 mintage cap. As a discontinued series coin, it trades at premiums that reflect its age and collectability. The Wildlife Series predates the Arctic/1.5 oz format coins and established the RCM's wildlife bullion credentials.

Against the 1 oz Silver Maple Leaf, the Arctic Fox provides 50% more silver per coin at the same diameter. The Maple Leaf has unmatched liquidity and the lowest RCM premiums. For a buyer choosing between 15 Maple Leafs (15 oz total) and 10 Arctic Foxes (15 oz total), the Arctic Fox gets the same total silver in fewer coins, though at a likely higher per-ounce premium on the secondary market.