1 oz Swan Silver Coin

Perth Mint's Most Sought-After Annual Silver Coin

The 1 oz Perth Mint Swan is an annual limited-mintage silver bullion coin that has established itself as one of the most collectible annual releases in world bullion. Launched in April 2017, the inaugural 1 oz silver coin (mintage 25,000) sold out worldwide in less than 48 hours, setting the tone for a series that has consistently generated annual sellouts and rising secondary market values.

The black swan is the official bird emblem of Western Australia and features in the Perth Mint's own logo. Perth sits on the Swan River, where the Swan River Colony was established in 1829. Despite this deep local connection, it took until 2017 for the Perth Mint to put a swan on a bullion coin. Each year's reverse features a unique swan design that will never be repeated, following the model of the long-running Kookaburra (launched 1990) and Koala (launched 2007) annual series.

For buyers browsing 1 oz silver coins, the Swan occupies a distinct position. It is genuine bullion: .9999 fine silver (four nines, matching the Canadian Maple Leaf), Australian legal tender under the Currency Act, and sold with standard bullion packaging in capsules. But the 25,000 annual mintage is tiny compared to the millions produced by the American Silver Eagle or the unlimited Kangaroo. This scarcity drives premiums well above spot, and past years have appreciated significantly on the secondary market. The 2017 inaugural coin, bought at roughly $25, was trading at $55-60 within days and continues to command the highest premium of any year.

The series bridges pure investment bullion and numismatic collecting. Its .9999 purity and government backing provide bullion credibility, while the low mintage and annually changing designs create collector demand. Buyers should understand they are paying a premium for scarcity and collectibility rather than for cost-efficient silver accumulation.

Swan Denominations, Dimensions, and Annual Designs

Annual Design Summary

Collector variants include the 1 oz silver proof (~2,500 mintage), 1 oz gold bullion (5,000 mintage), 1 oz gold proof high relief (188 pieces in some years), 5 oz silver proof high relief (500 pieces from 2023), and 1 oz silver coloured limited editions from 2024. Later issues feature a micro-laser engraved authentication letter on the reverse, standard Perth Mint security technology.

Swan Silver Coin Tax Treatment by Country

The Perth Mint Swan is Australian legal tender under the Currency Act 1965, struck at .9999 fine silver. It benefits from government-backed status across most tax jurisdictions.

Australia

The Swan is GST-free as a legal tender bullion coin from the Perth Mint. Capital gains are subject to CGT with a 50% discount for holdings over 12 months. There is no CGT exemption for any bullion in Australia. The Swan's strong secondary market appreciation makes CGT a practical consideration for sellers of earlier-year coins.

United Kingdom

Gold Swan coins are VAT-exempt as investment gold. Silver Swans are subject to 20% VAT. The Swan is not CGT-exempt in the UK, as only UK Royal Mint legal tender coins (such as the Silver Britannia) qualify for CGT exemption. Given the Swan's tendency to appreciate above its initial premium, CGT liability on disposal could be meaningful for UK holders who bought early years at lower prices.

United States

No federal sales tax. State-level exemptions cover bullion in approximately 35 states. The .9999 purity exceeds the IRS 99.9% threshold for silver IRA eligibility under Section 408(m), and the Perth Mint's status as a recognised sovereign mint supports IRA qualification. The coin is widely available through major US dealers including APMEX, JM Bullion, and SD Bullion. Capital gains are taxed at the 28% collectibles rate.

Canada

GST/HST-exempt as foreign legal tender silver bullion at 99.9% or higher purity.

New Zealand

GST-exempt for fine silver at 99.9% purity. Perth Mint coins are well-recognised in the Australasian market, and the Swan is available through NZ dealers including MyGold.

Singapore and Hong Kong

Singapore's IPM scheme exempts qualifying silver at 99.9% purity. Hong Kong imposes no sales tax, import duty, or capital gains tax on bullion.

Swan vs Kookaburra, Kangaroo, and International Limited-Mintage Silver

Within the Perth Mint range, the Swan's 25,000 annual mintage places it in a category of its own. The Australian Kangaroo has unlimited mintage and the lowest premiums of any Perth Mint silver coin. The Kookaburra has 500,000 mintage, annual design changes, and a 35-year history. The Koala sits at a similar level to the Kookaburra. The Super Pit at 100,000 is more limited than these but still four times the Swan's production. The Swan is the scarcest standard-issue Perth Mint silver bullion coin.

The consequence of this scarcity is higher premiums and stronger secondary market performance. A buyer acquiring the Swan is paying substantially more per ounce of silver than they would for a Kangaroo, Kookaburra, or any open-mintage sovereign coin. The trade-off is that earlier Swan vintages have consistently appreciated. The 2017 inaugural coin spiked to roughly 3x melt value within days of release and continues to be the most valuable year. For buyers who view bullion purely as a cost-efficient way to hold silver, the Swan is the wrong choice. For those who want silver with collectible upside, the Swan's track record is among the strongest in modern bullion.

Internationally, the closest comparison is the Mexican Silver Libertad, which also has limited mintages (varying by year, sometimes below 300,000) and strong collector premiums. The Libertad has a much longer history (since 1982) and a dedicated following. Both coins demonstrate that controlled mintage on a government-issued silver coin can drive substantial premiums above melt, but this comes with reduced liquidity compared to open-mintage programmes. The Canadian Maple Leaf and Austrian Philharmonic remain the benchmarks for low-premium, high-liquidity silver if cost-efficiency is the priority.