{"id":20309,"date":"2026-10-05T05:47:05","date_gmt":"2026-10-05T04:47:05","guid":{"rendered":"https:\/\/metalsradar.com\/glossary\/numismatic-coins\/"},"modified":"2026-10-05T07:49:10","modified_gmt":"2026-10-05T06:49:10","slug":"numismatic-coins","status":"publish","type":"page","link":"https:\/\/metalsradar.com\/sg\/glossary\/numismatic-coins\/","title":{"rendered":"Numismatic Coins"},"content":{"rendered":"<div class=\"mrf-gl\"><p class=\"gl-def\">Numismatic coins are coins valued for rarity, age, condition, mintage or finish rather than only their metal content. Proof coins with a mirror finish and limited issues are typical examples.<\/p><aside class=\"panel gl-live\"><p class=\"gl-live-h\">\ud83c\uddf8\ud83c\uddec Today in Singapore<\/p><div class=\"gl-row\"><span>Gold, 1 troy ounce (spot)<\/span><b>S$5,320<\/b><\/div><div class=\"gl-row\"><span>Cheapest 1 oz gold coin: <a href=\"https:\/\/metalsradar.com\/sg\/product\/1-oz-krugerrand-gold-coin\/\">1 oz Krugerrand Gold Coin<\/a><\/span><b>S$5,494.70<\/b> <small>+3.3% premium<\/small><\/div><p class=\"gl-src\">Data as of 05.10.2026, updated daily.<\/p><a class=\"btn primary\" href=\"https:\/\/metalsradar.com\/sg\/cheapest-gold-coins\/\">Compare gold coin prices \u203a<\/a><\/aside><div class=\"gl-body\"><h2>Numismatic versus bullion<\/h2><p>A <a href=\"bullion}}\">bullion<\/a> coin is priced on its metal: spot plus a modest premium. A numismatic coin carries an extra layer of value that collectors are willing to pay for: a low mintage, a special finish, a coloured design, a presentation box or historic interest. That layer can be many times the metal value, and it does not follow the gold price.<\/p><table><thead><tr><th><\/th><th>Bullion coin<\/th><th>Numismatic or proof coin<\/th><\/tr><\/thead><tbody><tr><td>Price driver<\/td><td>Metal content and spot<\/td><td>Rarity, finish, demand from collectors<\/td><\/tr><tr><td>Premium over metal<\/td><td>Low<\/td><td>Often high, can be several times metal value<\/td><\/tr><tr><td>GST in Singapore<\/td><td>Exempt if on the IPM list<\/td><td>Taxable at 9%<\/td><\/tr><tr><td>Resale<\/td><td>Any bullion dealer, near spot<\/td><td>Collectors or auction, price uncertain<\/td><\/tr><\/tbody><\/table><h2>The GST rule that matters here<\/h2><p>IRAS excludes proof, numismatic and collector versions from the IPM exemption, even when the same coin design is on the list. Its guidance gives Singapore Lion gold proof coins and Canada Call of the Wild gold proof coins as examples. The reason given is that these coins trade on rarity, finish and beauty rather than on the metal they contain.<\/p><p>So a bullion Singapore Lion from The Singapore Mint is GST-exempt, while a proof Lion with the same gold content is charged 9% GST. Lunar series coins, popular here as gifts for the new year, come in both bullion and proof versions, so check which one you are being offered.<\/p><h3>Example: same gold, different price<\/h3><p>Two 1 oz coins each contain 31.1035 g of fine gold. The bullion version sells at a small premium over spot with no GST. The proof version adds a collector premium, packaging and 9% GST on the whole price. When you sell, a bullion dealer will usually offer the proof coin a price based on its gold, so the collector premium and the GST are lost unless you find a collector.<\/p><h2>When you are overpaying<\/h2><ul><li>The coin is sold as an \"investment\" but priced far above metal value.<\/li><li>Words like \"limited edition\" or \"certified\" are the main selling point, with no clear mintage or resale market.<\/li><li>There is no buy-back offer from the seller.<\/li><\/ul><p>If your aim is to hold gold, compare the price against the <a href=\"spot-price}}\">spot price<\/a> and against ordinary bullion such as the <a href=\"\/sg\/categories\/kangaroo-gold-coin\/\">Kangaroo gold coin range<\/a> or the <a href=\"\/sg\/categories\/gold-coins\/\">full list of gold coins in SGD<\/a>. If you collect for pleasure, numismatic coins can be rewarding, but treat the extra as a hobby cost, not part of your <a href=\"premium}}\">premium<\/a> calculation. Check the <a href=\"investment-gold-tax}}\">IPM and GST rules<\/a> for which coins qualify.<\/p><\/div><h2>Related terms<\/h2><p class=\"gl-chips\"><a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/sg\/glossary\/bullion\/\">Bullion<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/sg\/glossary\/premium-over-spot\/\">Premium over Spot<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/sg\/glossary\/investment-precious-metals-gst\/\">Investment Precious Metals (IPM) and GST<\/a><\/p><section class=\"mrf-faq\"><h2>FAQ<\/h2><div class=\"faq-list\"><details open><summary><h3>Are proof coins GST-exempt in Singapore?<\/h3><\/summary><div class=\"a\"><p>No. IRAS excludes proof, numismatic and collector versions from the Investment Precious Metals exemption, so they are charged GST at 9%.<\/p><\/div><\/details><details><summary><h3>Are numismatic coins a good investment?<\/h3><\/summary><div class=\"a\"><p>They can rise in value with collector demand, but they carry a large premium over metal and are harder to sell, so they suit collectors more than buyers who want exposure to gold prices.<\/p><\/div><\/details><details><summary><h3>How do I know if a coin is bullion or proof?<\/h3><\/summary><div class=\"a\"><p>Proof coins have a mirror background with frosted design, usually come in a capsule and box with a certificate, and are sold at a much higher price than the bullion version.<\/p><\/div><\/details><\/div><\/section><details class=\"gl-src-list\"><summary>Sources<\/summary><ul><li><a href=\"https:\/\/www.iras.gov.sg\/media\/docs\/default-source\/e-tax\/gst-guide-on-exemption-of-investment-precious-metals7f0062ff-780a-4a53-90fa-e1f3b1e25770.pdf\" rel=\"nofollow noopener\" target=\"_blank\">IRAS e-Tax Guide: GST Exemption of Investment Precious Metals (IPM)<\/a><\/li><\/ul><\/details><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":0,"featured_media":0,"parent":20237,"menu_order":9,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"class_list":["post-20309","page","type-page","status-publish","hentry"],"taxonomy_info":[],"featured_image_src_large":false,"author_info":{"display_name":"","author_link":"https:\/\/metalsradar.com\/sg\/"},"comment_info":0,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages\/20309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/types\/page"}],"replies":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/comments?post=20309"}],"version-history":[{"count":1,"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages\/20309\/revisions"}],"predecessor-version":[{"id":20397,"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages\/20309\/revisions\/20397"}],"up":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/pages\/20237"}],"wp:attachment":[{"href":"https:\/\/metalsradar.com\/sg\/wp-json\/wp\/v2\/media?parent=20309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}