1/4 oz St George and the Dragon Gold Coin

A Modern Bullion Coin Rooted in 500 Years of Numismatic History

The 1/4 oz Royal Mint St George and the Dragon Gold Coin belongs to a bullion series launched in 2024 that explores one of the oldest and most celebrated motifs in English coinage. St George first appeared on English coins in 1526 on the George Noble under Henry VIII, and Benedetto Pistrucci's 1817 interpretation for the Gold Sovereign became one of the most iconic designs in numismatic history. This modern series offers annual reinterpretations of the legend rather than reproducing Pistrucci's original, which remains exclusive to the Sovereign.

The quarter-ounce denomination contains 999.9 fine gold in a 22 mm coin carrying a GBP 25 face value. As UK legal tender from The Royal Mint, the coin is exempt from Capital Gains Tax for UK residents, placing it alongside the 1/4 oz Britannia and Sovereign as CGT-free gold options at this price point. The 999.9 purity is higher than the Sovereign's 22-carat (916.7 fine) composition, matching the Britannia exactly.

The 2024 inaugural reverse was designed by Jody Clark, who also created the fifth and final portrait of Queen Elizabeth II used on UK coinage from 2015 to 2022. The 2026 issue, designed by Sandra Deiana, marks the 500th anniversary of the George Noble (1526-2026), adding a collectibility dimension to that particular vintage. An inscription drawn from the original 1526 coin reinforces the historical continuity spanning five centuries.

St George and the Dragon 1/4 oz Gold Specifications

Design and Security

The obverse carries the Martin Jennings portrait of King Charles III, adopted for UK coinage in 2022. Each year's reverse depicts a fresh artistic interpretation of the St George and the Dragon legend by a different designer, in contrast to the Sovereign which retains Pistrucci's 1817 original.

Security features include a micro-text border and micro-detail background elements visible under magnification. The Royal Mint applies advanced minting technology for enhanced depth, clarity, and relief detail. A silver version is available at 1 oz (999 fine, GBP 2 face value) and 1 kg (999 fine, GBP 500 face value, 100 mm diameter), the latter serving as both an investment piece and display item.

The series sits within The Royal Mint's broader heritage programme, which includes the "Great Engravers" collector range. The bullion versions are distinct from the proof editions in that programme, with a standard Brilliant Uncirculated finish and pricing closer to spot. The gold coin is packaged in a single protective capsule, consistent with Royal Mint bullion packaging across the Britannia and other series.

Tax Treatment of the St George and the Dragon

The St George and the Dragon carries the full tax advantages of a UK legal tender gold coin from The Royal Mint.

Purchase Tax

• United Kingdom: VAT-free as investment gold.
• European Union: VAT-exempt under the EU Investment Gold Directive.
• United States: No federal sales tax. State-level treatment varies.
• Canada: GST/HST exempt for gold at 99.5% purity or above.
• Australia: GST-free for investment-grade gold.
• Singapore: GST-exempt as an Investment Precious Metal.
• Hong Kong: No sales tax or import duty.
• New Zealand: GST-exempt for gold at 99.5% purity or above.

Capital Gains Tax

• UK: CGT-exempt. As UK legal tender, gains on disposal are not subject to Capital Gains Tax regardless of the profit. This places the St George alongside the Britannia, Sovereign, Royal Mint Lunar, Tudor Beasts, and Queen's Beasts as CGT-free gold holdings for UK investors. The annual GBP 3,000 CGT allowance is preserved for use against other assets.
• UK SIPP: Eligible for Self-Invested Personal Pensions. Gold held within a SIPP benefits from income tax relief on contributions and CGT-free growth.
• USA: IRA eligibility is not widely confirmed for this series. The 999.9 purity meets IRS requirements; verify with your custodian.
• Germany: Capital gains tax-free after a one-year holding period.
• Australia: CGT applies with a 50% discount for holdings over 12 months.

St George vs Britannia and Sovereign at 1/4 oz

For UK buyers, the St George and the Dragon competes directly with two established Royal Mint products at a similar price point. The 1/4 oz Britannia shares every structural characteristic: same mint, same 999.9 purity, same GBP 25 face value, same CGT exemption. The Britannia's advantages are its deeper secondary market, established global recognition, and a more advanced security suite featuring tincture lines, micro-text, and surface animation created with picosecond lasers. The St George offers annual design variety that the Britannia (with its largely fixed design) does not.

The Gold Sovereign contains 0.2354 oz of 22-carat gold (7.32g fine gold content), close to a 1/4 oz coin's 7.78g. The Sovereign carries centuries of numismatic heritage and Pistrucci's iconic original design. It is also CGT-exempt. The St George series acknowledges the Sovereign's legacy while offering a different proposition: higher purity, modern artistic interpretations, and a larger coin format. Buyers choosing between the two are weighing historical prestige and established resale depth (Sovereign) against higher purity gold and contemporary design (St George).

Outside The Royal Mint's range, the 1/4 oz Maple Leaf typically trades at lower premiums and offers superior authentication through Bullion DNA, but carries no UK CGT exemption. The 1/4 oz Philharmonic matches on purity and often on premium, but again lacks the CGT benefit. For UK investors, the tax saving on a CGT-exempt coin can outweigh any small premium difference at purchase, particularly for holdings intended to be sold at a significant gain.