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About the Coronation Gold
The Royal Mint Coronation Gold Coins
The Coronation series was issued by The Royal Mint in 2023 to commemorate the coronation of King Charles III at Westminster Abbey on 6 May 2023, the first British coronation in 70 years. These are one-time commemorative bullion issues, not an annually recurring series, and carry significantly lower mintages than standard Royal Mint bullion products.
The coins feature the first crowned coinage portrait of Charles III, sculpted by Martin Jennings. This is a deliberate departure from modern convention: most Royal Mint bullion coins since 1968 have shown the monarch uncrowned. The reverse, designed by John Bergdahl, displays the King's royal cypher (C III R) surrounded by a laurel wreath. A separate "Coronation Britannia" was also issued, pairing the crowned portrait obverse with the standard Philip Nathan Britannia reverse and a unique edge inscription.
Gold denominations include the 1 oz coin (mintage 7,500), the 1/4 oz coin, the 1/10 oz coin, and the 1 oz bar. Full and half Sovereign denominations were also issued. All are UK legal tender and therefore CGT exempt in the United Kingdom.
Coronation Gold Coin Specifications
| Denomination | Weight | Purity | Face Value | Mintage |
|---|---|---|---|---|
| 1 oz Gold Coin | 31.1035g | 999.9 (24K) | £100 | 7,500 |
| 1/4 oz Gold Coin | 7.776g | 999.9 (24K) | £25 | TBC |
| 1/10 oz Gold Coin | 3.11g | 999.9 (24K) | £10 | 53,000 |
The Coronation Britannia variant was issued alongside the cypher coins, pairing the crowned obverse with Philip Nathan's familiar Britannia reverse design. The Coronation Britannia had a mintage of 10,000 for the 1 oz gold version and 4,000 for the 1 oz silver. Both variants use standard Royal Mint striking processes and .9999 fine gold.
The 1 oz gold Coronation coin (7,500 mintage) is one of the lowest-mintage Royal Mint bullion gold coins in recent years. For comparison, the standard annual Britannia has no fixed mintage cap. The limited run directly affects secondary market pricing, with Coronation coins commanding higher premiums than equivalent-weight Britannias.
Martin Jennings' crowned obverse portrait shows Charles III wearing the Tudor Crown, facing left, continuing the Royal Mint's tradition of alternating the facing direction between monarchs. The Coronation Britannia variant carries the same crowned portrait but retains Philip Nathan's familiar Britannia reverse design, with an added edge inscription commemorating the coronation event.
Coronation Coin Tax Treatment by Country
All Coronation bullion coins are UK legal tender, struck by The Royal Mint in .9999 fine gold. This confers significant tax advantages in the United Kingdom.
United Kingdom
Gold Coronation coins are VAT-exempt as investment gold and CGT-exempt as UK legal tender. This double exemption (zero tax on purchase, zero tax on any profit at sale) applies to all denominations. It is the same treatment as standard Britannias and Sovereigns. This makes the Coronation coins a fully tax-free gold holding for UK investors, regardless of how much the gold appreciates.
The coins also qualify as SIPP-eligible, allowing them to be held within a self-invested personal pension with tax relief at the investor's marginal rate.
Other Jurisdictions
- European Union: Gold coins qualify as investment gold (VAT-exempt) under the EU Directive. Legal tender status from a recognised sovereign mint supports this classification.
- United States: The Coronation coins are not on standard IRA-approved lists and are not considered IRA-eligible under typical interpretations. They are a foreign commemorative issue rather than a standard bullion coin.
- Australia: Gold coins at .995+ purity from a sovereign mint are GST-free as investment gold.
- Canada: GST/HST exempt as qualifying gold bullion. Not specifically listed for RRSP eligibility.
- Singapore: GST-exempt under the IPM scheme if the coins meet the purity and legal tender criteria.
- Hong Kong: No sales tax applies.
Coronation vs Britannia, Queen's Beasts, and Sovereign
The standard Britannia is the most direct comparison. Both are 999.9 fine gold, UK legal tender, CGT-exempt, and VAT-free. The Britannia has unlimited annual mintage and consistently lower premiums, making it the better choice for cost-focused gold accumulation. The Britannia also carries advanced security features (latent image, micro-text, tincture lines, surface animation) that the standalone Coronation cypher coins may not include. The Coronation's advantage is scarcity: the 7,500-piece mintage for the 1 oz gold coin creates a collector premium that the Britannia does not carry.
The Queen's Beasts series (2016-2021) from The Royal Mint used a similar approach of limited-mintage commemorative bullion over multiple years. That was a ten-coin series spanning five years; the Coronation is a single-event release. Both demonstrate The Royal Mint's strategy of producing collector-oriented bullion alongside their standard programme.
Gold Sovereigns share the CGT-exempt and VAT-free status but are struck in 22K (.9167) gold with a smaller gold content of approximately 0.2354 troy ounces. A Sovereign is a more affordable entry point to CGT-free gold, and its deep liquidity (produced continuously since 1817) makes it easier to sell. The Coronation coin appeals to buyers who want full-ounce CGT-exempt gold with commemorative significance.
The Royal Canadian Mint also issued Charles III coronation coins. The RCM versions are .9999 fine but lack the distinction of being produced by the monarch's own national mint, which gives the Royal Mint issue a narrative advantage for collectors focused on the coronation event itself.