British Gold Britannia: specs, security features and which years qualify for an IRA

At a glance

Made by	The Royal Mint (United Kingdom)
First issued	1987
Purity	99.99% since 2013; 22 carat (91.67%) from 1987 to 2012
1 oz coin	One troy ounce of gold, 32.69 mm, £100 face value
Other sizes	1/2 oz, 1/4 oz and 1/10 oz, plus smaller sizes
Allowed in an IRA	Coins dated 2013 or later

Two kinds of Britannia

The Royal Mint launched the gold Britannia in 1987 as a 22-carat coin, the same standard as the British sovereign. The alloy was gold and copper at first, and from 1990 the Mint used silver in place of the copper.

In 2013 the Mint switched to 99.99% pure gold, the same purity as the Maple Leaf and the Philharmonic. Every Britannia since has been made to that standard.

The change matters mostly for IRAs, covered below. For ordinary buying and selling, a 1 oz Britannia of either kind contains a full troy ounce of gold, and dealers price it on that.

Specifications

The current 1 oz Britannia contains one troy ounce of 99.99% gold, measures 32.69 mm across and has a face value of £100. The Royal Mint also makes 1/2 oz (£50), 1/4 oz (£25) and 1/10 oz (£10) coins, along with smaller sizes. The face value is symbolic and far below the value of the gold.

The design

The back shows Philip Nathan’s Britannia, standing with a trident and a shield. The front shows the monarch: King Charles III on newer coins, in a portrait by Martin Jennings, and Queen Elizabeth II on older ones.

Security features

Starting with coins dated 2021, the Royal Mint added four features that you can check without equipment:

• Latent image. A small symbol switches between a padlock and a trident as you tilt the coin.
• Surface animation. Fine detail behind Britannia gives the effect of waves rolling as the coin moves.
• Micro-text. The inscription DECUS ET TUTAMEN, Latin for “an ornament and a safeguard”, runs around Britannia.
• Tincture lines. Engraved lines on the Union flag in Britannia’s shield mark its colors, using the old heraldic way of showing color in metal.

Coins dated before 2021 don’t have these features, and that’s normal. The Royal Mint made them with lasers working at a scale far finer than a human hair, which is what makes them hard to copy.

Can Britannias go in an IRA?

Only the 99.99% coins. U.S. law lets an IRA hold gold bullion that meets the purity required for delivery on a regulated futures contract, which is 99.5% for gold. Britannias dated 2013 or later pass. The 22-carat coins from 1987 to 2012 are 91.67% gold, and unlike the American Gold Eagle they have no special exception in the tax code, so they don’t qualify.

If you’re buying for an IRA, check the date and confirm the product is on your custodian’s approved list. The gold IRA guide covers the rest.

Price and resale

Britannias sell for the spot price of their gold plus a premium, like other bullion coins. In the U.S. they’re less common than Gold Eagles or Maple Leafs, so fewer dealers stock them, and it pays to get quotes from more than one dealer when you sell. See what gold really costs for how to judge a quote.

U.S. taxpayers owe tax on a gain as a gain on a collectible, at up to 28% for coins held more than a year. British sellers often describe Britannias as free of capital gains tax. That exemption is part of UK tax law and doesn’t apply to U.S. taxpayers.

Frequently asked questions