Face Value of a Sovereign, Britannia and Krugerrand
Many gold and silver coins carry legal tender status in the UK. Those coins carrying a denomination have the benefuit of capital gains tax emeption.
Face Value of a Sovereign
Sovereigns carry a face value of £1 (one pound) and are legal UK tender. The pound sterling had been a unit of account for centuries and in 1489 Henry VII struck the first gold sovereign assigning it a face value of £1. In modern times the gold value far outweighs the face value and gold sovereign trades are done based on actual gold weight rather than as a unit of currency. The fact the UK government still classes the sovereign as legal tender allows investors the benefit of reducing their capital gains tax liabilities. We have a page dedicated to how to avoid paying capital gains tax.
Face Value of a Britannia
Britannia coins are legal tender in the UK and carry the benefit of a capital gains tax exemption. The face value differs between gold and silver and we include both technical specifications below for compariosn:
Gold Britannia Technical Specification
|Size||Face Value||Diameter||Weight||Alloy||Gold Content||Gold Content|
|One Ounce (1987 - 2012)||£100||32.69||34.0500||.917||31.104||1.0000|
|One Ounce (2013)||£100||38.61||31.2100||.9999||31.104||1.0000|
|One Ounce (2014 - to present)||£100||32.69||31.2100||.9999||31.104||1.0000|
The 1/12th of the alloy which is not gold, is copper for issues until 1989, and silver from 1990.
Silver Britannia Technical Specification
|Size||Face Value||Diameter||Weight||Alloy||Silver Content||Silver Content|
|One Ounce (1997 - 2012)||2 Pound||40.00 mm||32.45 grams||.958||31.10 grams||1.0000|
|Half Ounce (1997 - 2012)||1 Pound||27.00 mm||16.22 grams||.958||15.55 grams||0.5000|
|Quarter Ounce (1997 - 2012)||50 Pence||22.00 mm||8.11 grams||.958||7.77 grams||0.2500|
|Tenth Ounce (1997 - 2012)||20 Pence||16.50 mm||3.24 grams||.958||3.10 grams||0.1000|
|One Ounce (2013 - Present)||2 Pounds||38.61 mm||31.21 grams||.999||31.10 grams||1.0000|
|Half Ounce (2013 - Present)||1 Pound||27.00 mm||15.71 grams||.999||15.69 grams||0.5000|
|Quarter Ounce (2013 - Present)||50 Pence||22.00 mm||7.86 grams||.999||7.85 grams||0.2500|
|Tenth Ounce (2013 - Present)||20 Pence||16.50 mm||3.15 grams||.999||3.10 grams||0.1000|
|Twentieth Ounce (2013 - Present)||10 Pence||12.00 mm||1.58 grams||.999||1.578 grams||0.0500|
|Twenty-fifth Ounce (2014- Present)||5 Pence||8.00 mm||0.8 grams||.999||0.799 grams||0.0400|
Face Value of a Krugerrand
Krugerrands do not carry a face value and are a pure investment bullion coin. They are traded for their gold content using the live gold price and if you buy and sell large amounts you may find yourself liable for capital gains tax. Please read our blog on capital gains tax and how you can avoid paying it in the UK if you buy legal tender gold coins.
You may wish to view all of our articles on our gold guide.
You may wish to view all of our articles on our silver guide.