Gold Britannia Coins UK: Buyer's Guide

The gold Britannia is the Royal Mint's flagship bullion coin: a British-made, British legal tender gold coin with a design that has been refreshed over the years. It is one of the most popular ways for UK buyers to own gold, and one of the most misunderstood, especially when it comes to purity, VAT and which version to buy.

This guide covers what a gold Britannia is, how the 22ct and 24ct versions differ, what you pay, how to check one and what to know before you buy. It is general information, not financial advice.

What is a gold Britannia?

The Britannia was first issued by the Royal Mint in 1987. It shows Britannia on the reverse, with the reigning monarch's portrait on the front. It has a face value, but it sells for its gold content plus a premium. The 1oz coin has a face value of £100, and smaller sizes have lower face values.

22ct or 24ct? Know the difference

This is the point that catches many people out:

• 1987 to 2012: gold Britannias were struck in 22ct (91.67%) gold, like sovereigns.
• 2013 onwards: gold Britannias are struck in 24ct (99.99%) gold.

So a Britannia dated 2013 or later is virtually pure gold, while an earlier coin is 22ct. Both are investment gold and both are legal tender. The coin states its size in ounces and the date tells you which version you have. When comparing prices, make sure you are comparing like with like.

Sizes

Gold Britannias come in several sizes, including 1oz, 1/2oz, 1/4oz and 1/10oz. Smaller coins are easier to sell in small amounts but usually carry a higher premium per gram. Larger coins have a lower premium per gram. Check the sizes we sell on our gold Britannias page.

What you are paying for

• The gold. The weight of pure gold multiplied by the live gold price.
• The premium. The dealer's margin over gold, which covers minting, handling and risk. Premiums are higher for smaller sizes, proof versions and special editions.

Always ask what the premium is, and compare it between dealers on the same coin and size.

VAT and tax

Standard bullion gold Britannias are generally VAT-free to buy, as investment gold, and British legal tender gold coins are generally exempt from Capital Gains Tax when you sell. Proof and special-edition coins priced well above their gold value may not qualify for VAT exemption. Read are gold Britannias VAT-free and gold coin selling tax. This is not tax advice.

How to check a gold Britannia

• Check the weight and diameter against the Royal Mint specification for that size and year.
• Look closely at the design, the lettering and the edge. Soft detail or uneven edges are warning signs.
• Recent Britannias include anti-counterfeit features, so check the current specification for the year you are buying.
• Buy from a dealer with a real address, clear terms and a returns policy, and keep your invoice.
• Be wary of any price below the gold value.

For more, read how to check if a coin is genuine.

Britannia or sovereign?

Both are British gold coins that are easy to sell. The sovereign has a long history and a set size, while the Britannia is a modern bullion coin in several sizes and, since 2013, a purer 24ct gold. Many buyers hold both. See the sovereign buyer's guide to compare.

Common mistakes

• Mixing up 22ct and 24ct coins when comparing prices.
• Paying a large premium for a standard bullion coin.
• Not keeping the invoice and packaging.
• Assuming a proof Britannia is VAT-free without checking.
• Not planning how to sell it later.

Selling a gold Britannia

See where to sell gold Britannias and our sell gold Britannias page, or request a free valuation.

Frequently asked questions

Is a gold Britannia a good investment?

It follows the gold price, which can rise or fall, and you pay a premium on purchase. It is not financial advice, and many people hold it as a small part of a wider plan.

Are Britannias easy to sell?

Yes, they are widely recognised in the UK. You will normally receive the gold value less the dealer's margin.

What is the difference between bullion and proof?

Bullion coins are priced mainly on gold content. Proof coins have a higher finish and usually a higher price. See what is a proof coin.