A first issue from T&S Coin, an addition to the Royal Mint’s Tudor Beast’s series, and fractional Germania coins bump up bullion choice

It’s been a while since we did a round-up of the bullion market, as they involve a lot of work in collating and optimising images for the site, but I’ve concentrated on three new releases for now, and may continue to do so more regularly moving forward. It seems a nice balanced number, and with one of our favourite producers dipping into the market for the first time, it seemed opportune.

T&S Coin are the new bullion kids, with a fine debut, and we also have the penultimate bullion release in the Royal Mint’s outstanding Tudor Beast’s range to look at. The third subject is a whole swathe of new formats in Germania Mint’s flagship ‘Germania’ range, each of the seven being fractionals for the first time, including a copper one. For the uninitiated, a fractional is generally seen as a fraction of an ounce, and tends to be applied to coins in the 1/2oz to 1/40oz range, although it could mean anything under a troy ounce.

A nice selection of the all-new, the addition, and the expansion of existing offerings, we expect the bullion market to continue to be fast-moving and varied. We wouldn’t want it any other way. Enjoy.

2026 TREASURE ISLAND (T&S COIN)

More producers are dipping their toes into the flourishing bullion market, utilising some of the fine designs from their past numismatic releases as a basis. We love that idea, as the resulting bullion coins tend to offer high standards of appearance not usually associated with the market. The latest to jump in is T & S Coin, who have an extensive range of high-relief two-ounce silver coins in their portfolio, built up over the last few years.

For their debut, they’ve chosen a perennial theme – pirates! Released in 2024, Treasure Island was a coin we really liked on its debut, and even for a two-ounce coin, it was packed with detail (shown above). While the new bullion variant has eschewed the antique-finish, high-relief, and gilded highlights of the original, it’s lost nothing of its charm, and remains an impressively detailed example of the type. Even the gorgeous obverse design, used in similar form across their entire range, returns.

Treasure Island is a beloved classic, well known around the globe, and we think this terrific design will have huge appeal as a result. It’s a one-ounce coin with a mintage capped at an optimal 10,000 pieces, and should be available to pre-order now. I for one, can’t wait to see this in hand, and I reckon it will photograph well.

DENOMINATIONCOMPOSITIONDIAMETERFINISHMINTAGE
$2 NZD (Niue)31.1 g of 0.999 silver39.0 mmB/Unc.10,000

2026 TUDOR BEASTS ROYAL DRAGON (Royal Mint)

Tudor Beast’s is coming to an end with the debut of the tenth design in this terrific heraldic series based on the statues sited on the Moat Bridge of Hampton Court Palace. The were commissioned by Henry VIII to celebrate his union with Jane Seymour, his third wife, and are full of the symbolism that drove politics of the time. The coins are all designed by David Lawrence, who we think has done a fine job with them. To be clear, while the Royal Dragon is the tenth and final design in this series, it’s actually only the ninth bullion version, as the first release, the Seymour Panther, has yet to be released in this form. We expect that later this year.

The Royal Dragon has been a symbol of Wales for centuries, but also the Tudor Family going back to Henry VIII’s great-grandfather, Sir Owen Tudor. It was Henry VII that adopted the dragon after his defeat of Richard III at the Battle of Bosworth, becoming the first Welsh monarch of England, and causing the death of the last English monarch to fall in battle.

The same five formats are offered, with two in silver (2 & 10oz), two in gold (1/4 & 1oz), and a 1oz platinum. The Royal Mint has a fine grasp of heraldic themes on coins, possibly the best in the world, and series like Tudor Beast’s, and its Queens Beast’s predecessor, are ample proof of that. As well as the bullion coins, there’s a great selection of great-looking proof versions, which you can see in our newly refreshed Coin Series Profile to the range.

DENOMINATIONCOMPOSITIONDIAMETERFINISHMINTAGE
£10 UKP (United Kingdom)311.1 g of 0.9999 silver89.0 mmB/Unc.Open
£5 UKP (United Kingdom)62.2 g of 0.9999 silver38.61 mmB/Unc.Open
£100 UKP (United Kingdom)31.1 g of 0.9999 gold32.69 mmB/Unc.Open
£10 UKP (United Kingdom)7.78 g of 0.9999 gold22.00 mmB/Unc.Open
£10 UKP (United Kingdom)31.1 g of 0.9995 platinum32.69 mmB/Unc.Open

2026 GERMANIA FRACTIONALS (Germania Mint)

We’ve already covered the latest 2026 Germania bullion range, including many of our own images of sample coins, but Germania Mint are not finished with it, launching, for the first time, a whole range of six fractionals. They share the same design, but the three silver, and three gold coins are likely a result of the inexorable increase in the price of these precious metals.

While Lady Germania has regularly appeared in 2oz, 10oz, and 1kg weights, those appear to have been replaced by 1/10, 1/4, and 1/2 ounce sizes. Gold in those weights is long overdue, we think, but silver in the same weights is more of a surprise. Each of the coins comes mounted in an attractively themed blistercard, which we like here. Overall, a sensible, and very welcome addition.

Copper is also represented for the first time, with a half-ounce coin. Unlike the Bodvar copper bullion, which came as a one-ounce coin, Germania is not sold encapsulated with a certificate, and nor does it have a mintage cap. Instead, these are purchased in a bulk bag containing 1,000 coins. It’s an unusual departure from their usual modus operandi, and this sales method seems more suited to circulating currency, which this isn’t. The coin, like the rest of the range more accurately described as an undenominated round, is actually very nice in hand, but I’d rather have seen them replace the big silver coins with copper versions, so the collectors focused on design don’t miss out on the new reality of the one-ounce coin being the biggest, rather than the smallest, of the silver coins. I’d be interested to see comments on it.

DENOMINATIONCOMPOSITIONDIAMETERFINISHMINTAGE
1 Mark (Faux)3.11 grams of 0.9999 silver19.70 mmBrilliant uncirculated2,500
2 Mark (Faux)7.78 grams of 0.9999 silver26.92 mmBrilliant uncirculated2,500
4 Mark (Faux)15.55 grams of 0.9999 silver33.00 mmBrilliant uncirculated2,500
20 Mark (Faux)3.11 grams of 0.9999 gold16.0 mmBrilliant uncirculated1,000
30 Mark (Faux)7.78 grams of 0.9999 gold22.0 mmBrilliant uncirculated250
50 Mark (Faux)15.5 grams of 0.9999 gold28.0 mmBrilliant uncirculated250
1/2 Mark (Faux)0.5 oz of 0.999 copper30.3 mmUncirculatedUnlimited