Australian Silver Lunar coins are Australian legal tender. These coins have been popular with Australian collectors since they were first released in 1992, and the Australian Silver Lunar Series II has become an international hit. This blog post will talk about the Australian Silver Lunar coins and how much they are worth today.
Australian Silver Lunar Collections
Lunar Series I
The lunar series I coins are silver coins that were made at the Perth Mint. They have different designs than gold coins, and they come in 1 oz silver. The first lunar series was released in 1996 and was available until 2007. The Lunar Series I was the only one to have two Year of the Mouse designs. In 1996, a coin was issued in the series, and in 2008, another coin was issued.
Lunar Series II
The Lunar Series II brought about more options for the Perth Mint’s lunar collection. Colorized proofs, gilded coins, and a wider range of proof sets were now available in the Lunar Series II collection. In the silver and gold coins, each design had two animals. In the silver ones, there were two animals from the same species. The gold coins only had one animal in each design.
Lunar Series III
Launched in 2020 and scheduled for release up to 2031, the Lunar Series III collection brings more changes to the series. The silver coins are available in different sizes. There is a 1/2 oz, 1 oz, 2 oz, and 5 oz coin. You can also get 10 ounces or even 10 kilograms of silver coins. The designs of the coins are new. They were made with the same approach as before. There is a major change in this collection, though. That is that there’s now an all-new platinum bullion coin.
Australian Silver Lunar History and Background
The Perth Mint made its first silver coins in 1999. They began with their Year of the Rabbit coins. The mint’s idea was to make commemorative silver coins that had designs that coincided with the Chinese years on their calendar. This was a project that took 12 years. It became known as the Series 1 Lunar coins. The mint was impressed with its popularity and announced a second series from 2008 to 2019.
Series 1 Silver Lunar coins came in a range of sizes. You can get them as half ounces, one ounce, two ounces, ten ounces, and kilogram silver coins or as five-ounce silver coins that were added in the year 2004. In 2008, the Perth Mint decided to only make silver coins that are one ounce and two ounces. They stopped making other types of coins.
When the mint started making the Series 2 Lunar Silver coins, they changed the designs so that each animal year would have a different appearance from the ones in their Series 1. In 2008, there are two different designs of the mouse. In 2009, there is an ox design. And in 2010, there is a tiger design. Australia showed that its coins are still among the most beautiful and sought after in the world with this long-running series of coins.
Australian Silver Lunar Physical Characteristics
The Perth Mint guarantees that all its Silver Lunars meet the silver purity, weight, and content requirements. Every year is different in design.
Australia’s coins have pictures of Queen Elizabeth II. This is because Australia recognizes her as its head of state. The coin has a picture of her and says the amount of money on it and that it is made out of .999 silver. The most popular coins have one dollar written on them. The year is at the bottom of the coin. Other coins are legal tender in Australia.
This Lunar Silver coin had a different animal on the back of it each year. This is called the reverse. The 2002 issue had a horse on it. The horse was shown as being fully grown and in full gallop motion. There are five bats around the horse. This means that the bat symbolizes prosperity, peace, and health. The horse also has a Chinese symbol on it which means that the horse has these things too.
The Australian Silver Lunars come in many different weights. Some are 1/2 ounce, some are one ounce, and some are two ounces. The most common weight is one ounce. The specifications for the one-ounce Silver Lunars are as follows:
- Mass: 31.1 grams
- Thickness: 4 mm
- Diameter: 40.6 mm
- Silver Content: 99.99% pure in one ounce
Australian Silver Lunar Pricing
These silver coins’ face values change with the size. The one-ounce coin with a face value of $1 has always been the most favored. Others included 50 cents 1/2 ounce coins, $2 two-ounce coins, $8 five-ounce coins, $10 ten-ounce coins, and $ 30-kilogram coins. Every coin has its worth on the front. The Australian Currency Act of 1965 created these coins legal tender. In practice, nobody spends them for their face value.
Silver Lunars have much higher prices than their face value would suggest. This is because they are made with silver, which dictates the cost of the coin. Even though these coins are more expensive than silver because of how few there are, they are worth the same as silver. This is because the value of these coins is based on the price of silver. The price changes every day.
During the week, the silver prices go up and down. This means that the price for an Australian Silver Lunar coin also changes every day of the week.
Investing in Australian Silver Lunar Coins Through an IRA
The IRS says you can put Australian Silver Lunar coins in your self-directed IRA. If you have physical silver bullion coins in your precious metals IRA, then it will be different from other people’s IRAs. This is because the price of coins does not always move in lockstep with stocks and bonds. Silver is popular as an alternative to gold for a portfolio hedge because it is less expensive.
Individuals can benefit from the IRS allowing the inclusion of four precious metals in their IRAs: silver, gold, platinum, and palladium. They will not allow bullion that they do not approve of for these accounts. This is like Australian Silver Lunar coins. For starter, you need to buy at least $5,000 worth of silver. Then, you can buy more if you want for less than $1,000.
There are many regulations that govern the purchase and storage of silver in these IRAs. The coins must have a certain level of purity to be eligible for contribution. The Perth Mint is a company that makes Silver Lunar coins. These coins are 99.99% pure silver, which is a lot of silver.
You can’t keep them in your home because they need to be stored somewhere safe and secure. The IRS approves of these vaults where the coins must be stored. You can put your bullion coins in a bank. This bank will look after the coins and make sure they are safe.
You can also move them from one of your other investment accounts to a precious metals account. To buy silver coins such as the Australian Silver Lunar ones, you give instructions to your account administrator. They purchase the coins from a reputable dealer and arrange for them to be deposited in your storage vault.
If you’re finding a way to diversify your investment portfolio, Australian Silver Lunar coins may be the answer. They are an affordable and reliable form of precious metal that can give investors peace of mind when investing in bullion. These beautiful coins also have a history stretching back over two millennia, making them an attractive option for collectors as well as those with more modern tastes.
Whether you want something different from gold or silver investments, these one-ounce Lunar coins offer all the benefits without costing too much money.