The Britannia: Britain's Golden Symbol
History of the Britannia coin
The idea for a gold Britannia coin evolved due to demand for a one-ounce British gold bullion coin that could compete with the South African Krugerrand, Canadian Maple, and the American Eagle gold coins.
Fifty-two designs were submitted to The Royal Mint, and sculptor Philip Nathan’s now iconic ‘standing Britannia’ design was selected to grace the reverse of the first coin. The design portrays the heroic figure of Britannia in long flowing robes standing upon the rocks, holding her trident and shield. Although there have been a number of variations of the design since 1987, including two standing poses, a seated pose, Britannia riding a chariot, a helmeted Britannia, and Britannia with the union flag, Nathan’s standing Britannia design is the one that appears most often.
Only The Royal Mint has the trademark to produce genuine Britannia coins. When launched in 1987, the gold Britannia was produced in 91.67% (22ct) gold alloyed with copper. This changed in 1990 when the 22 carat fineness was maintained but the alloy was changed to silver; altering the colour from a reddish-toned gold to a more yellow-toned gold. In 2013, the fineness of the Britannia increased to 999.9 (24ct) gold.
The silver Britannia coin was launched in 1997, with the first year released only as a proof coin, and was struck in ‘Britannia silver’ (958.0 fineness). From 2013 onwards, the coins were minted in 999.0 fine silver.
In 2021, The Royal Mint added some new tweaks to the traditional Britannia design. Using specialist lasers, new security features were added, including micro-text, surface animation, and tincture lines. These new features have appeared on every Britannia coin since, enhancing the detail and beauty of the classic design and making the Britannia one of the most visually secure coins in the world. 2023 marked a new chapter in the coin series as the 2023 King Charles III Britannia coins became the first ever Britannia coins not to feature Queen Elizabeth II on the obverse.
Symbol of the nation
Britannia is famously depicted on modern coins as a goddess, holding her trident and shield proudly bearing the union flag, but the image of Britannia was first featured on Roman coins way back in 119AD as ‘Britannia’ was the Roman name for Great Britain. It was commonplace for the Romans to personify countries as female figures, and so the early coins showed Britannia in female form to depict the colonisation of a conquered Britain.
During the reign of Charles II, Britannia made a comeback on Britain’s coins and was portrayed as a symbol of protection and the ruler of the seas after it was pointed out that Britannia had been shown on Roman coins seated amongst the waves.
Britannia has since appeared on coins issued under every British monarch since the seventeenth century. Her image has altered subtly over time, yet Britannia has undeniably remained a great British symbol of unity, liberty, and strength.
The 2024 Britannia coin
The reverse of the 2024 coin features the internationally recognised Britannia design by sculptor Philip Nathan. Exclusive to The Royal Mint, the design also incorporates the new security features, making the coin extremely difficult to duplicate.
The obverse of each 2024 Britannia coin bears the uncrowned portrait of His Majesty King Charles III, designed by sculptor Martin Jennings.
The 2024 Gold Britannia is available in the standard 1oz weight, as well as fractional sizes: 1/2oz, 1/4oz, and 1/10oz. The 2024 Silver Britannia is available in a range of sizes including 1oz, 1kg, 10oz, and fractional sizes 1/4oz and 1/10oz.
Tax exemptions on the Britannia
Along with other British coins such as the gold sovereign, gold and silver Britannia coins are a popular choice for UK-based individuals as they are exempt from Capital Gains Tax (CGT) in the United Kingdom due to being classed as legal tender and sterling currency. Gold Britannia gold coins are also exempt from VAT throughout Europe.
Timeless appeal
The Britannia bullion coin has been around for almost four decades, offering a practical advantage with its portability and worldwide recognition. Popular with collectors due to the numerous design changes over the years, as well as tax exemptions, the Britannia is known globally as one of the most trusted and beloved coins, with millions of ounces of gold and silver used in the minting of these coins over many years.
For those considering adding a dependable coin to their portfolio, the Britannia is surely a solid choice with its rich history and enduring popularity.
This blog represents one person’s opinion only. Please note, gold and silver prices may go down as well as up. Atkinsons Bullion & Coins accepts no responsibility for any losses based on information we have provided. We do not offer investment advice. Please carry out your own research before making an investment decision.
