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About the 1 oz Royal Australian Mint Koala Silver Coin
Australia's Official Mint Launches Its Own Koala Bullion
The 1 oz Royal Australian Mint Koala is a new annual bullion coin series from Australia's national mint, headquartered in Canberra. It debuted in 2024, making it one of the newest sovereign bullion programmes in the world. The series is distinct from the Perth Mint's long-running Koala programme (established in 2007); Australia now has two separate koala-themed bullion coins from two different government mints, an unusual intra-country competitive dynamic.
The Royal Australian Mint (RAM) produces all of Australia's circulating coinage, but the Perth Mint, a Western Australian state government enterprise, has historically dominated the bullion and collector coin market. The RAM Koala represents a deliberate push into international bullion, and the series' early specifications reflect this ambition: the silver coin is legal tender with a $1 AUD face value, while a companion gold version at .9999 purity carries a $100 AUD face value with a mintage of just 1,000 pieces, making it one of the lowest-mintage 1 oz gold bullion coins from any sovereign mint.
The 2024 inaugural issue is historically notable as the last Royal Australian Mint coin to feature Queen Elizabeth II's effigy. The 2025 release transitioned to the first official effigy of King Charles III on Australian coins, designed by Dan Thorne, depicting the King without a crown in a left-facing profile. Each year features a new koala design, following the annual-design-change model used by the Perth Mint and other Australian bullion series.
Silver purity is .999 (three nines), a step below the Perth Mint Koala's .9999 (four nines, adopted in 2018). This is the standard purity for most sovereign silver coins globally, matching the 1 oz Silver Britannia and the 1 oz Silver Philharmonic. The 25,000 silver mintage per year is a fraction of the Perth Mint Koala's 300,000 cap, creating potential collector premiums but limiting the depth of secondary-market liquidity.
RAM Koala Denominations and Variants
1 oz Silver BU
| Attribute | Value |
|---|---|
| Metal | .999 fine silver |
| Weight | 1 troy oz (31.1 g) |
| Diameter | 40 mm |
| Edge | Reeded |
| Face value | $1 AUD |
| Mintage | 25,000 per year |
| Finish | Brilliant Uncirculated |
| Issuing authority | Government of Australia |
Other Variants
| Variant | Metal | Purity | Face Value | Mintage |
|---|---|---|---|---|
| 1 oz Gold BU | Gold | .9999 | $100 AUD | 1,000 |
| 1 oz Silver Proof (High Relief) | Silver | .999 | $5 AUD | 3,000-3,500 |
Design by Year
| Year | Reverse Design | Obverse |
|---|---|---|
| 2024 | Single koala on eucalyptus branch | Queen Elizabeth II (final use by RAM) |
| 2025 | New koala design | King Charles III (first Australian effigy, by Dan Thorne) |
| 2026 | Three koalas among eucalyptus branches | King Charles III |
Of the 25,000 silver coins minted annually, approximately 20,000 are distributed worldwide through international dealer networks, with 5,000 retained for the Australian domestic market. The gold coins feature "triple security protection" according to RAM, though the specific technical features have not been publicly detailed. RAM states the gold is ethically sourced from Australian mines.
RAM Koala Tax Treatment by Country
As Australian legal tender from the national mint, the RAM Koala benefits from strong governmental backing for tax classification purposes across multiple jurisdictions.
Australia
Investment-grade gold bullion is GST-free. The .9999 gold Koala qualifies. Silver bullion at 99.9% purity is also GST-free when in a form commonly traded on commodity markets. The .999 silver Koala should qualify, though individual dealer classification may vary based on how the coin's premium relative to spot is assessed.
United States
IRA-eligible. The .999 silver meets the IRS minimum of 99.9%, and the .9999 gold exceeds the 99.5% gold threshold. Government-issued status from a sovereign nation supports custodian acceptance. Sales tax varies by state, with approximately 35 states exempting bullion. Capital gains taxed at the 28% collectibles rate.
United Kingdom
Gold coins are VAT-exempt as investment gold (the .9999 purity and legal tender status both qualify). Silver coins are subject to 20% VAT on purchase, as the investment gold exemption does not extend to silver in the UK. Not CGT-exempt (not UK legal tender). For CGT-exempt silver in the UK, the 1 oz Silver Britannia remains the standard choice.
Canada
At .999 purity, the silver Koala exceeds the 99.5% threshold for GST/HST exemption. The gold version at .9999 also qualifies.
New Zealand
Silver at 99.9% purity is GST-exempt. The .999 Koala qualifies. Regional proximity to Australia makes RAM products readily available from New Zealand dealers. No capital gains tax.
Singapore
The IPM scheme exempts silver coins at 99.9% purity that are or were legal tender. The RAM Koala's legal tender status and .999 purity should qualify for GST exemption.
Hong Kong
No sales tax, import duty, or capital gains tax on precious metals.
RAM Koala vs Perth Mint Koala, Maple Leaf, and Britannia
The most immediate comparison is with the Perth Mint Koala, the established Australian koala bullion brand running since 2007.
| Feature | RAM Koala | Perth Mint Koala |
|---|---|---|
| First issued | 2024 | 2007 |
| Silver purity | .999 | .9999 (since 2018) |
| Silver mintage (1 oz) | 25,000 | 300,000 cap |
| Sizes available | 1 oz only | 1/10 oz to 1 kg |
| Annual design change | Yes | Yes |
| Gold mintage (1 oz) | 1,000 | Varies |
The Perth Mint Koala has the advantage in purity (.9999 vs .999), size range (seven denominations vs one), production history (17+ years of secondary-market track record), and liquidity (12x the annual mintage). The RAM Koala has the advantage of lower mintages (creating collector potential), the prestige of Australia's official national mint, and the 2024 inaugural issue's status as the last RAM coin bearing Queen Elizabeth II's effigy.
Against international competitors, the RAM Koala's .999 purity matches the Silver Britannia and Silver Philharmonic, but the Silver Maple Leaf maintains the .9999 standard. At 25,000 mintage, the RAM Koala is far more limited than any of these mainstream programmes (produced in millions annually), which means higher initial premiums but potential for collector appreciation.
For Australian buyers, the RAM vs Perth Mint rivalry is a live topic in the stacking community. The RAM produces the country's circulating coins; the Perth Mint produces the country's bullion. Both are government institutions, but with different mandates and different track records in the precious metals space. The RAM Koala is a new entrant that needs time to establish its secondary-market credentials.
1 oz Royal Australian Mint Koala Silver Coin: frequently asked questions
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The lowest price tracked today is $71.34 from Summit Metals. We track listings from 2 dealers, so it is worth comparing before buying. Silver coin prices move with the silver market, so check back if you are timing a purchase.
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Dealers are currently charging around 8.8% over the $65.79 silver spot price for the 1oz RAM Koala. The Royal Australian Mint issues only 25,000 silver Koalas per year, which is a much lower mintage than most sovereign bullion programmes, and this tends to push premiums slightly above those of higher-volume coins.
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The RAM Koala is an annual silver bullion coin produced by the Royal Australian Mint in Canberra, Australia's national mint. Each year features a new koala design on the reverse. The coin weighs 1 troy ounce and is .999 fine silver. It carries a face value of $1 AUD and is Australian legal tender. The series launched in 2024 and is distinct from the Perth Mint's longer-running Koala programme.