1 oz Queen's Virtues Gold Coin

The 1 oz Queen's Virtues Gold Coin

The Queen's Virtues is a six-coin tribute to Queen Elizabeth II, issued as legal tender of Saint Helena, a British Overseas Territory in the South Atlantic best known as the island of Napoleon's exile from 1815 to 1821. Each 1 oz gold coin contains one troy ounce (31.1g) of .9999 fine gold, carries a GBP 100 face value, and is struck to a Brilliant Uncirculated finish. The reverse designs are inspired by the six allegorical figures on the Victoria Memorial outside Buckingham Palace: Victory, Truth, Charity, Justice, Courage, and Constancy.

The series comes from The East India Company, a modern London-headquartered luxury goods and bullion brand founded in 2010. It has no operational continuity with the historical trading company dissolved in 1874; the name is licensed from the UK Treasury. The coins were released over three years, 2021 to 2023, at a pace of two designs per year. Proof versions were also issued with a certified gold mintage of just 250 per design, exceptionally low for a gold coin in this space.

Two facts distinguish this series for buyers. First, the face value is substantive: the Saint Helena pound is pegged 1:1 to GBP, so the GBP 100 denomination is meaningful rather than nominal. Second, the tax position differs from UK coins in a way that matters. The Queen's Virtues is VAT-exempt investment gold in the UK, but it is not CGT-exempt, because CGT exemption applies only to UK legal tender coins such as the 1oz gold Britannia. Saint Helena is a British Overseas Territory, not the United Kingdom, and its coins do not qualify. The series therefore appeals most to collectors drawn to its limited mintages and Victoria Memorial theme, rather than to UK buyers optimising purely for tax efficiency.

Queen's Virtues 1 oz Gold Specifications

All six designs share a common obverse featuring the Ian Rank-Broadley portrait of Queen Elizabeth II alongside the denomination, weight, and purity. Each reverse depicts one of Sir Thomas Brock's Victoria Memorial sculptures in detailed relief. Four of the six designs carry a documented motto inscription: Victory ("Victory Through Harmony"), Truth ("Truth Conquers All"), Justice ("Let Justice Be Done"), and Courage ("By Wisdom and Courage"). No motto is recorded for the Charity and Constancy designs.

The release schedule ran two coins per year: Victory appeared first (proof in October 2020, BU in 2021), followed by Truth across 2021-2022, then Charity, Justice (spring 2022), and Courage (autumn 2022), with Constancy completing the series in spring 2023. The Justice reverse is the most elaborate, showing a winged angel with a sword accompanied by a child carrying the scales of justice, representing unbiased justice. The series sits alongside other 1oz gold coins in size class, the standard unit for bullion worldwide.

Queen's Virtues Gold Tax Treatment by Country

United Kingdom: The coin qualifies as VAT-exempt investment gold (legal tender, above the 995 fineness threshold). It is not CGT-exempt. UK CGT exemption applies only to UK legal tender coins such as Britannias and Sovereigns; Saint Helena coins are legal tender of a British Overseas Territory, not of the United Kingdom. UK dealers list the series as "VAT exempt, CGT not exempt", and gains are taxable at the individual's CGT rate above the annual allowance. This is the single most important fact for UK buyers comparing it against Royal Mint alternatives.

United States: No federal sales tax; state treatment varies, with most states exempting bullion. The .9999 purity meets the IRS threshold of 99.5% for gold, though IRA eligibility in practice depends on custodian acceptance, and proof versions with limited mintages may be classified as collectibles. Long-term gains on bullion are taxed at the collectibles rate of up to 28%.

European Union: VAT-exempt as investment gold under the EU Gold Directive (post-1800 legal tender coin above 900 fineness).

Canada: 0% GST/HST, since the coin exceeds the 99.5% purity requirement for refined gold in coin form.

Australia: Investment gold coins of 99.5%+ purity from a recognised sovereign entity should qualify for the 0% GST treatment.

New Zealand and Singapore: The .9999 purity clears the 99.5% gold threshold for GST exemption in both countries; Singapore additionally levies no capital gains tax. Hong Kong applies no sales tax, no import duty, and no capital gains tax to investment gold.

From the Victoria Memorial to Saint Helena Legal Tender

The series takes its theme from the Victoria Memorial, the monument standing outside Buckingham Palace that was designed and sculpted by Sir Thomas Brock (1847-1922) after Queen Victoria's death in 1901. The memorial took a decade to build and was inaugurated in 1911 by King George V, with Brock knighted at the unveiling ceremony. Its six allegorical figures supply the six coin designs: the winged angel of Victory tops the monument, with Constancy, Charity, and Courage beneath her, and Justice and Truth carved from marble blocks around the base.

The first coin, Victory, appeared as a proof in October 2020 with the BU release following in 2021. Its reverse models the winged Angel of Victory standing with one arm raised. Truth followed across 2021-2022, then Charity, Justice, and Courage through 2022, with Constancy completing the set in spring 2023. Every coin in the series pairs its reverse with the Ian Rank-Broadley portrait of Queen Elizabeth II on the obverse.

The timing gives the series a place in numismatic history: it was one of the last to feature the Elizabeth II effigy before her death in September 2022. The final coin, Constancy, may carry either the Elizabeth II or King Charles III effigy depending on production timing. The issuing brand also carries an unusual backstory. The East India Company behind these coins is a modern luxury enterprise founded by Sanjiv Mehta in 2010, which licenses the famous name from the UK Treasury. Saint Helena itself has hosted several recent coin series under this arrangement, including Una and the Lion and the Goddess series, with The East India Company as the primary brand behind the island's recent numismatic programmes.

Queen's Virtues vs Britannia and Queen's Beasts

Against the gold Britannia: the comparison turns on tax and recognition. The gold Britannia is UK legal tender, CGT-exempt for UK residents, .9999 fine, globally recognised, and struck in unlimited bullion mintage. The Queen's Virtues matches its .9999 purity but is Saint Helena legal tender, so it is not CGT-exempt in the UK, and its limited mintages position it as a collectible rather than a pure bullion workhorse. For UK investors the Britannia wins on tax efficiency; the Queen's Virtues appeals to collectors seeking limited editions.

Against the Queen's Beasts: both are multi-coin Royal-themed series with symbolic subject matter, and the Queen's Beasts series ran from 2016 to 2021, overlapping with the Queen's Virtues launch. The Royal Mint series offers ten heraldic designs as UK legal tender with CGT exemption and higher mintages. The Queen's Virtues offers six designs, no UK CGT exemption, and lower mintages. Buyers assembling a themed set on a deadline may note that both series are now complete, so secondary availability drives the buying decision for each.

Against other Saint Helena issues: the island has issued multiple series, including Una and the Lion and the Goddess series, all minted by third parties. Within that group the Queen's Virtues is distinguished by its direct tribute to Queen Elizabeth II and its source material in Brock's Victoria Memorial sculptures. Across all of these, the practical tax position for UK buyers is identical: VAT-exempt as investment gold, but without the CGT exemption that only UK legal tender coins carry.