Face Value of a Sovereign, Britannia and Krugerrand

Author: Ian Davis - Bullion Manager

Published: 4 Jan 2019

Last Updated: 4 Jan 2019

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
    mms. Grams /1.000 Grams Troy Ounces
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
Half £50 27.00 17.0250 .917 15.552 0.5000
Quarter £25 22.00 8.5130 .917 7.776 0.2500
Tenth £10 16.50 3.4120 .917 3.110 0.1000

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 1.0000
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

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