Perth Mint Lunar Series: Coins of the Chinese Zodiac
Among the many bullion coins issued around the world, few have built a following quite like the Australian Lunar coins of the Perth Mint. Each year’s coin honours one animal of the Chinese zodiac, so a complete set takes twelve years to assemble. Struck in silver and gold, these coins sit at the meeting point of bullion investment and collecting, which affects how they are priced and resold.
The zodiac cycle
The Chinese zodiac assigns an animal to each year in a repeating twelve-year cycle: Rat, Ox, Tiger, Rabbit (sometimes Hare), Dragon, Snake, Horse, Goat (or Sheep), Monkey, Rooster, Dog and Pig. The year begins with the Lunar New Year, which falls in January or February in the Western calendar. Each animal carries cultural associations, and some years, notably the Dragon, are particularly popular with buyers in Asia.
How the series are organised
The Perth Mint’s lunar coins are grouped into series, each covering a full twelve-year cycle with a consistent style:
| Series | Approximate period | Notes |
|---|---|---|
| Lunar Series I | From the mid-1990s, through one twelve-year cycle | The first series, gold and later silver |
| Lunar Series II | From 2008, through one twelve-year cycle | Started with the Year of the Mouse |
| Lunar Series III | From 2020 onward | Started with the Year of the Mouse |
Each new series starts with the Rat, called the Mouse on some issues, and ends with the Pig. Within a series, design style and sizes are broadly similar, which makes sets attractive to complete.
Metals and sizes
The lunar coins are issued in both silver and gold.
- Silver coins are struck in a wide range of sizes, typically from 1/2 oz up to 1 kilogram, with 1 oz the most widely traded. Very large sizes, such as 10 kilograms, have been produced for some years.
- Gold coins come in fractional and one-ounce sizes, plus larger pieces in some years.
Fineness has been .999 for most of the history of the series, with the Perth Mint moving some recent silver issues to .9999. Always check the stated fineness and weight for the specific coin.
The obverse carries the effigy of the reigning monarch and a face value, as on all Australian legal tender coins, with recent issues moving to the portrait of King Charles III.
Bullion value versus collector premium
The Perth Mint sells lunar coins as bullion, but many buyers treat them as collectibles. That double identity has practical consequences:
- During the year of issue, premiums are usually higher than for non-themed bullion coins of the same weight.
- After the year ends, mintages for some sizes are limited, and certain years can trade above their metal value. Others drift back toward the price of comparable bullion.
- Special versions, such as coloured coins, proofs, privy marks and gilded editions, are priced entirely as collectibles.
None of this is predictable. A higher premium paid today may or may not be recovered later. A buyer who wants silver at the lowest possible premium per ounce may find plain bullion coins or bars more efficient, while a collector will weigh design, condition and mintage.
Condition and packaging
Lunar coins are often sold in mint capsules or tubes, and collectors pay attention to condition. Fingerprints, scratches and the white spots that can form on silver reduce appeal to collectors, though not the metal value. Original packaging and certificates for special editions help resale. See our guide to handling and storing bullion coins.
Comparison with other zodiac coins
Other mints also issue zodiac-themed coins, including the Royal Mint’s lunar series and various Asian mints. The Perth Mint series is the best established and the most widely traded.
Where it fits
For a buyer, the lunar series offers a recognisable government-issued coin with an annual theme. For a pure bullion buyer, the key questions remain weight, fineness and premium over spot, explained in silver coin values and silver prices explained. The Perth Mint’s other annual silver design is covered in Australian Silver Kookaburra Coins, and other one-ounce options in 1 oz silver coins.
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