Lunar Series
Also: Lunar Coin, Chinese Zodiac Series, Perth Mint Lunar
The Lunar Series is a collection of gold and silver investment coins struck annually by the Perth Mint (Australia) with a changing motif of the Chinese zodiac sign.
The Lunar Series is among the best-known and most collected investment coin collections in the world. Issued by the Perth Mint - one of the most renowned mints in the world - a new edition appears each year bearing the motif of the current Chinese zodiac sign. The twelve-year cycle comprises the Rat, Ox, Tiger, Rabbit, Dragon, Snake, Horse, Goat, Monkey, Rooster, Dog and Pig.
History and series
The Perth Mint launched the Lunar Series in 1996 with Series I (years 1996-2007). After the completion of the first full zodiac cycle, Series II followed in 2008 (2008-2019) with revised, more detailed coin designs. Since 2020 Series III has been running, again offering fresh designs and a slightly altered edge.
Denominations and metals
The Lunar Series is issued in both gold and silver, and occasionally in platinum and palladium. The most important denominations at a glance:
| Weight | Metal | Fineness |
|---|---|---|
| 1/20 oz | Gold | 999.9 ‰ |
| 1/10 oz | Gold | 999.9 ‰ |
| 1/4 oz | Gold | 999.9 ‰ |
| 1/2 oz | Gold | 999.9 ‰ |
| 1 oz | Gold | 999.9 ‰ |
| 2 oz | Gold | 999.9 ‰ |
| 10 oz | Gold | 999.9 ‰ |
| 1 kg | Gold | 999.9 ‰ |
| 1/2 oz | Silver | 999 ‰ |
| 1 oz | Silver | 999 ‰ |
| 2 oz | Silver | 999 ‰ |
| 5 oz | Silver | 999 ‰ |
| 10 oz | Silver | 999 ‰ |
| 1 kg | Silver | 999 ‰ |
All denominations carry a legal face value in Australian dollars and are thus official legal tender - although their material value exceeds the face value many times over. The fine weight can be verified using the coin weight checker.
Bullion vs. proof
The Lunar Series appears in two finishes:
- Bullion (investment coin): frosted background, intended for investors, larger mintages, lower premium (agio).
- Proof: mirror-finish background, satin motif, limited mintage, elaborate packaging with certificate - aimed more at collectors.
There is a considerable price difference between the two variants: proof editions command significantly higher premiums over the pure metal value. The current gold price and silver price form the basis for valuing the metal content.
Melt value and premium
The melt value of a 1-ounce gold coin from the Lunar Series corresponds approximately to the current gold spot price for one troy ounce, since the fineness is 999.9/1000:
Melt value (£) = spot price (£/oz) x fineness x weight (oz)
The exact melt value for any weight and fineness is calculated by the melt value calculator.
The premium on bullion Lunar coins is typically between 3% and 10% above the metal value for gold, and considerably higher for silver owing to VAT and the smaller denomination size. Smaller units (e.g. 1/10 oz) carry a proportionally higher premium than the 1-oz standard coin.
Tax treatment (United Kingdom)
Gold coins of the Lunar Series (e.g. 1 oz gold) fall under the UK VAT exemption for investment gold (HMRC; purity ≥ 995 ‰). Silver Lunar coins, by contrast, are subject to the standard 20% VAT rate. On disposal, Capital Gains Tax may apply: gains on non-legal-tender bullion coins and bars above the annual exempt amount are taxable, whereas UK legal-tender coins from The Royal Mint (Sovereign, Britannia, Lunar UK issues, Queen's Beasts) are CGT-exempt. As Australian coins, Perth Mint Lunar issues are not UK legal tender and do not benefit from the Royal Mint CGT exemption. There is no German-style one-year speculation period. For binding information please consult a tax adviser - this is not tax or investment advice.
In brief
The Perth Mint's Lunar Series combines the highest coin quality (999.9 fineness) with the cultural appeal of the Chinese zodiac calendar. It is suited both as a bullion coin for investment and as a collector's item - with the premium varying strongly according to finish and denomination.