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About the 1 oz Coronation Gold Bar
A Once-in-a-Generation Commemorative Gold Bar
The 1 oz Royal Mint Coronation gold bar was released in 2023 to mark the coronation of King Charles III at Westminster Abbey on 6 May 2023, the first British coronation in 70 years. It contains one troy ounce of 999.9 fine gold and features the first crowned coinage portrait of Charles III, designed by sculptor Martin Jennings. The reverse displays the King's royal cypher (C III R), designed by John Bergdahl, surrounded by a laurel wreath.
This was a one-time commemorative issue, not part of an annually recurring series. That distinction matters for buyers weighing it against the standard 1 oz Royal Mint Britannia gold bar, which is produced every year in unlimited quantities. The Coronation bar's limited nature gives it a collector dimension that standard bullion bars lack, but it also means premiums are higher and the secondary market is thinner.
As a Royal Mint product struck as UK legal tender, the Coronation bar qualifies for CGT exemption in the United Kingdom, an advantage it shares with gold Britannias and Sovereigns but not with bars from Swiss or German refineries. For UK buyers, this tax treatment can offset the higher purchase premium over time, particularly for investors expecting significant capital gains.
Coronation Gold Bar Technical Details
| Attribute | Value |
|---|---|
| Weight | 1 troy oz (31.1035 g) |
| Purity | 999.9 fine gold (24 karat) |
| Manufacturer | The Royal Mint |
| Face value | N/A (bar format) |
| Series | Coronation of King Charles III (2023) |
The bar uses the same 999.9 purity standard as the Royal Mint's Britannia bullion range. Standard Royal Mint bullion security features apply to the bar, including tamper-evident sealed packaging. The Royal Mint's 2023 Britannia coins incorporated advanced security features such as a latent image, micro-text, tincture lines, and surface animation, though it is not confirmed whether the standalone Coronation bar carries the identical security package.
The obverse portrait by Martin Jennings is notable because it shows Charles III wearing a crown, the first crowned effigy on UK coinage since Elizabeth II's portrait changed to an uncrowned design in 1968. This historical detail adds a layer of numismatic significance to a bullion product.
Coronation Gold Bar Tax Treatment
As a Royal Mint product, the 1 oz Coronation gold bar benefits from favourable tax treatment in several jurisdictions. Its 999.9 purity comfortably exceeds the thresholds required for investment gold exemptions worldwide.
United Kingdom
Gold bars at 995+ fineness are VAT-exempt on purchase. The Coronation bar, as a Royal Mint product with UK legal tender status, is also CGT-exempt on disposal. This is the same exemption that applies to Britannia coins and Sovereigns. For UK investors, this dual exemption makes the Coronation bar tax-efficient on both purchase and sale, unlike bars from Swiss refiners such as PAMP Suisse or Valcambi, which are VAT-exempt but subject to CGT.
United States
Not IRA-eligible, as it is classified as a foreign commemorative issue rather than a standard investment bar. Long-term capital gains on physical gold are taxed at the federal collectibles rate of up to 28%. State sales tax varies; roughly 35 states exempt bullion purchases.
Canada
GST/HST-exempt as gold of 99.5%+ purity. Not RRSP-eligible as a non-Canadian mint product.
Australia
GST-free as investment-grade gold at 99.5%+ purity. Subject to CGT on disposal, with a 50% discount available for holdings over 12 months.
EU
VAT-exempt as investment gold under EU Directive 98/80/EC (gold bars at 995+ fineness qualify). CGT treatment varies by country: tax-free after one year in Germany, 33% in Ireland, no CGT in Belgium.
Singapore and Hong Kong
No sales tax, no import duty, and no capital gains tax in either jurisdiction.
Coronation Bar vs Standard Britannia and Swiss Alternatives
The most direct comparison for the 1 oz Coronation gold bar is the standard 1 oz Britannia gold bar from the same manufacturer. Both share 999.9 purity and Royal Mint provenance, but they differ in availability and pricing. The Britannia bar is produced annually in large quantities, keeping premiums competitive. The Coronation bar was a single 2023 release, which means limited supply and typically higher premiums on the secondary market.
Against Swiss-refined bars such as the 1 oz PAMP Fortuna or a standard Valcambi bar, the Coronation bar's key advantage for UK investors is CGT exemption. A UK buyer making a profit of several thousand pounds on gold bars would owe 18-24% CGT on Swiss or German bars, but nothing on the Coronation bar. Over a multi-year holding period, this can more than compensate for a higher initial premium.
For buyers outside the UK, the CGT advantage disappears, and the calculation shifts. Australian, Singaporean, and Hong Kong buyers face no CGT distinction between bars, making the lower-premium Swiss alternatives more cost-efficient. US buyers cannot hold the Coronation bar in an IRA, whereas PAMP and Valcambi bars at 99.5%+ purity from LBMA-accredited refiners qualify for IRA inclusion.
The Coronation bar also competes with the Canadian Coronation coins issued by the Royal Canadian Mint for the same occasion. The RCM versions are .9999 fine, matching the Royal Mint on purity, but carry the distinction of Canadian rather than British legal tender status. For collectors, the Royal Mint version has the edge as the product from the monarch's own national mint.