Gold Britannia Coins from the United Kingdom are prized around the world for their durability, beauty, and substantial face value. Their quality and weight are tested every year in the famed and centuries-old Pyx Trial. Since 1987, the British Royal Mint has been minting these magnificent Gold Britannia coins, with the 2017 release marking the 30th anniversary. Each year, 150,000 gold bullion coins are produced. This equates to a 1% global market share for the series. It also classifies the ever-popular British coins as one of the most widely circulated bullion series.
United Kingdom Gold Britannia Coins Background and History
Lady Britannia has a long and illustrious history with the United Kingdom. Since the days when the Roman Empire first invaded the British Isles and marked them out as the new province of Britannia, she has personified this great nation for nearly 2,000 years. Lady Britannia initially appeared on coins in the “Isle of the Mighty” around 119 A.D., during the reign of Roman Emperor Hadrian. In 1672, King Charles II issued coinage that marked the beginning of her modern-day rebirth.
Beginning in 1987, the Royal Mint began issuing new Britannia coins as part of its coveted bullion portfolio. Philip Nathan, a sculptor and designer, was commissioned to produce a modern-day rendition of Britannia that would be perfect for the forthcoming bullion issue. With a strong maritime influence, he created the image. With the waves lapping at her feet, she stands in a traditional gown pushed back by the wind. She wields a shield, a trident, and an olive branch in her hands. This design has become instantly recognisable across the international coin market as the modern face of British bullion and its long history of solidity and trustworthiness. With her powerful and authoritative, yet calm and lovely look, Nathan’s Britannia remains an epitome of all that is wonderful in modern Britain.
United Kingdom Gold Britannia Coins Background and History
As the Royal Mint prepares to celebrate the thirtieth anniversary of the famous and bold gold Britannia coin design, designer Philip Nathan has stepped forward to update the image. He added a speckled radial sunburst behind her to her new look. As a result, the anniversary coin is more striking than ever before.
The “obverse” refers to the coin’s front side. The traditional design of Lady Britannia standing strong in the face of a powerful gale sweeps past her shield, Corinthian-styled helmet, and olive branch adorns the obverse of the United Kingdom Gold Britannia Coins. The magnificent addition of a speckled radial sunburst behind her completes this new anniversary design.
In numismatics, the backside of coins is referred to as the “reverse.” The back of this issue, like all official British coins, depicts Her Majesty Queen Elizabeth II’s elegant picture. The coin’s remarkable face value of 100 British pounds sterling is also stated. These Gold Britannia Coins from the United Kingdom are official British legal tender and are accepted across the United Kingdom, including England, Scotland, Wales, and Northern Ireland.
United Kingdom Gold Britannia Coins come in a range of sizes including one-tenth, one quarter, one half, and one ounce weights. Their denominations range from £10 to £100. The most popular one ounce size dimensions are as follows:
- Mass: 31.21 grams
- Diameter: 32.69 mm
- Thickness: 1.8 mm
- Content: 1 troy oz. actual gold content
- Purity: 99.99% gold (24 karats)
United Kingdom Gold Britannia Coins Pricing
United Kingdom of Great Britain In the United Kingdom, gold Britannia Coins have always been lawful currency. Their face value might range from ten pounds to one hundred pounds. A 100 pound sterling denomination is included in the most popular one ounce size. Despite the fact that this is a substantial cost, no one in their right mind would spend these priceless items on everyday goods and necessities. The reason for this is that the intrinsic worth of these stunning bullion offerings is far greater than their still significant face value suggests. The true worth of these incredible coins is determined by the spot price of gold as well as the premium these coins may command over bullion prices.
The truth is that the intrinsic value of the coins determines their market value. This market value is used to value portfolios that contain them. Gold Britannia Coins from the United Kingdom carry a three percent premium over spot gold prices. This is to offset the significant costs of minting and distributing the coins. The market price of these coins varies from day to day and swings in lockstep with the constantly fluctuating price of gold on international markets. By visiting our homepage, you can find out what the current gold price is in real time.
Can IRA Accounts Contain United Kingdom Gold Britannia Coins?
The Internal Revenue Service has complete discretion over whether or not the United Kingdom Gold Britannia coins can be held in precious metals IRA retirement plans. The IRS specifies that such precious metals IRAs only contain bullion pieces that pass a rigorous minimum purity and no collectibility nature criterion. This taxing authority has concluded that you must purchase at least $5,000 in qualifying bullion gold or silver for the IRA to begin with. Later on, you’ll be able to make additional purchases in $1,000 increments. If you already have an IRA account that isn’t self-directed, you can easily convert it to a precious metals IRA. After your approved gold bullion IRA purchase is finalised and received by your account administrator, you must have a third-party depository on standby to vault and preserve your precious metals in accordance with IRS standards.
The question of whether or not these coins can be held in a precious metals IRA account is complicated. With their impressive.9999 gold purity standards, all of the minted years meet the IRS’ mandated.995 fineness of gold. The issue is that the coins have been classified as collectible bullion throughout the majority of their history, which means they were not allowed to be included in the accounts by the IRS. The IRS has cleared the new 2017 thirty-year anniversary of the series for IRA inclusion at this time. To be on the safe side, retired investors should avoid putting these coins in their IRAs altogether to avoid potential IRS difficulties and penalties. These amazing coins are still fantastic additions to other investing and retirement portfolios. The current year can be ordered straight from the British Royal Mint’s website. Limited quantities of earlier years are available from reputable coin, bullion, and jewelry dealers all around the world.