Gold Coin Britannia: All You Need to Know

Britannia gold bullions are popular across for timeless beauty and reliability. Gold Coin Britannia has witnessed some major changes in the last decade. In this article, we are going to know more about the gold Coin Britannia. We will discuss what makes it the best choice for investment. We will cover the origin, description of the end product, and the reasons for the investment. Keep reading if you are interested in this coin and want to buy some.

ORIGIN OF GOLD COIN BRITANNIA

Gold coin Britannia has been around since 1987. Though it has been around for a quite long time, it still meets the purity and quality standards, and that makes it one of the preferred choices for the citizens of the UK and even other parts of the world. Many investors especially, the UK investors find it worth investing since these coins guarantee some tax deduction benefits. These are available at a low margin. These coins are exempt from CGT (Capital Gains Tax) Also, they are VAT free. Both these tax benefits make this coin a preferred choice for all those who are looking for long-term benefits.

BRITISH GOLD BRITANNIA: WHAT DOES IT SYMBOLIZE?

The British Gold Britannia is the signature gold coin. These coins are produced for collectors as well as investors. These are produced by the United Kingdom. Therefore, it offers some specific benefits for the UK people. They can expect some tax deduction benefits while buying these coins. These are available in different sizes and are composed of different materials that include an alloy of gold, copper, and silver. Now, these coins have the 9999 fine gold Britannia, and this is considered the most sought-after gold in the current condition. These coins dominate some leading names in stature and prominence.

All the coins dated back to 2013 are popular for containing one ounce of the 99.99% pure gold bullion. The coins produced before 2013 were of 22-carat, and this specific feature makes them more durable. Some other materials were also used in the end product.

As stated above, the coin was first introduced in 1987. It was introduced by the Royal Mint in the form of gold.

Initially, these coins were popular among investors. However, in 1997, Mint launched the coins in silver. In 2017, the series launched the platinum coins. At present, you can expect many different options compared to the original period. Now, these are available in different materials and sizes.

Each one-ounce gold coin comes with a £100 face value. When the front of the coin will feature Queen Elizabeth II’s image, the reverse side will feature the Lady Britannia image. She will be seen holding a trident in one hand and a shield with an olive branch in another. On the reverse side, the minting year is also available. These gold coins are accessible in fractional sizes. You can find 1/10 oz, 1/20oz, 1/2 oz, and 1/4 oz. As mentioned earlier, these coins are also made of silver. In silver, you will get 1/2 ounce and 1-ounce sizes.

GOLD COIN BRITANNIA DESCRIPTION

  • Gold Britannia coins minted before 2012 had some different characteristics. The diameter of the old coins was 32.69mm.
  • They were 22-carat coins and contained only one troy ounce of the purified and fine gold.
  • These coins combined either silver or copper to produce the final product. Both these materials affected the appearance and the colour of the end product.
  • The copper was used until 1989 and then silver was used until 2012.
  • There was a great difference in the appearance of gold Britannia coins before 2012 and after 2013.
  • The coin has gone through some big changes to reach the current stage. However, the quality was unparalleled in both these periods since all the coins were going through a strict verification process.
  • In 2013, they started 24-carat gold instead of the 22-carat gold. The 1oz gold of 2013 measures 38.61mm diameter. The coin was quite flat and thin since it was made using 24-carat gold only. However, the larger and flat design lasted for one year.
  • 2014 witnessed the usual diameter used before 2013. The pure 24-carat coin came with 2.88 mm thickness and 32.69 diameters. However, it was made of pure and 24-carat gold.
  • The best part about these both types of gold coins is that you will get a similar amount of gold regardless of the type you prefer to invest.
  • Both of these coins will cost the same as well. All of them will have the Queen Elizabeth image on the front side.
  • These are available in different denominations to make it an easy option for investors to find the best one.

ARE THESE COINS TAX-DEDUCTIBLE?

Yes, with a British legal tender status, you can expect some tax benefits. You will be exempt from CGT. You are supposed to pay this tax on the profits made from your sales. As these coins are exempt from this tax, you can get more profits. All the profits you will make from selling the Britannia gold coins will be of yours. Also, there are some UK laws related to gold bullion sales. The law exempts you from VAT. That means you are going to be benefited by tax deductions if you consider investing in gold bullion.

ARE GOLD BRITANNIA COINS WORTH INVESTING?

Yes, it might be a great way if you are looking the most out of your investment. If you are living in the UK and even in some parts of the world, you will get most of the above-mentioned tax benefits. Therefore, you can expect more profits. In brief, you can say that it is a tax-efficient way to make more money from your wealth. However, you can experience some exceptions when the coins travel to some specific places like the USA. You might need to pay taxes.

WRAPPING UP

Now you know the significance and worth of the Gold Britannia coins. You are aware of the tax benefits as well. You are armed with all the required information. You can consider an investment if you believe that these coins have the potential to offer the desired benefits. There is no denying that the value of these coins will be increased in the years to come. However, you should always consider the tax benefits to make the most out of it.