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Face Value of a Sovereign, Britannia and Krugerrand

Author: Ian Davis - Bullion Manager

Published: 4 Jan 2019

Last Updated: 12 Nov 2020

Synopsis

Many gold and silver coins carry legal tender status in the UK. Those coins carrying a denomination in pounds sterling have the benefuit of capital gains tax exmeption.

Face Value of a Sovereign, Britannia and Krugerrand 401

Face Value of a Sovereign

Sovereigns, being a pound sterling coin, 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 British government still classes the sovereign as a pound sterling coin 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

British Britannias are pound sterling coins 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
    mms. Grams /1.000 Grams Troy Ounces
One Ounce (1987 - 2012) £100 32.69 34.0500 .917 31.104 1
One Ounce (2013) £100 38.61 31.2100 .9999 31.104 1
One Ounce (2014 - to present) £100 32.69 31.2100 .9999 31.104 1
Half £50 27.00 17.0250 .917 15.552 ½
Quarter £25 22.00 8.5130 .917 7.776 ¼
Tenth £10 16.50 3.4120 .917 3.110

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
    mms. Grams /1.000 Grams Troy Ounces
One Ounce (1997 - 2012) 2 Pound 40.00 mm 32.45 grams .958 31.10 grams 1
Half Ounce (1997 - 2012) 1 Pound 27.00 mm 16.22 grams .958 15.55 grams ½
Quarter Ounce (1997 - 2012) 50 Pence 22.00 mm 8.11 grams .958 7.77 grams ¼
Tenth Ounce (1997 - 2012) 20 Pence 16.50 mm 3.24 grams .958 3.10 grams
             
One Ounce (2013 - Present) 2 Pounds 38.61 mm 31.21 grams .999 31.10 grams 1
Half Ounce (2013 - Present) 1 Pound 27.00 mm 15.71 grams .999 15.69 grams ½
Quarter Ounce (2013 - Present) 50 Pence 22.00 mm 7.86 grams .999 7.85 grams ¼
Tenth Ounce (2013 - Present) 20 Pence 16.50 mm 3.15 grams .999 3.10 grams
Twentieth Ounce (2013 - Present) 10 Pence 12.00 mm 1.58 grams .999 1.578 grams 1/20
Twenty-fifth Ounce (2014- Present) 5 Pence 8.00 mm 0.8 grams .999 0.799 grams 1/25

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. 

Further Reading

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.

This guide and its content is copyright of Chard (1964) Ltd - © Chard (1964) Ltd 2021. All rights reserved. Any redistribution or reproduction of part or all of the contents in any form is prohibited.

We are not financial advisers and we would always recommend that you consult with one prior to making any investment decision.

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