Myths and Legends Gold

Royal Mint Myths and Legends Gold Coins

The Myths and Legends series is a themed bullion collection from The Royal Mint, drawing on British folklore and mythology. Launched in 2021 with Robin Hood, the series is structured as three-coin collections, each exploring a different legend: Robin Hood (2021-2022), King Arthur (2023-2024), and Beowulf (2024-2025). The gold bullion version is struck to .9999 fine purity and carries a face value of £100, making it UK legal tender and therefore CGT-exempt for UK residents.

This CGT exemption is the series' most significant practical advantage. Gains on Myths and Legends gold coins are entirely free of Capital Gains Tax, regardless of the profit size. This puts them on equal footing with the gold Britannia and Sovereign for UK tax efficiency, while offering the additional appeal of annual design changes and a collecting narrative that the static Britannia design cannot provide.

The 1oz gold Myths and Legends coins are the primary gold bullion product. Each collection tells a three-part story: Robin Hood was joined by Little John and Maid Marian; King Arthur by Merlin and Morgan Le Fay; Beowulf by encounters with Grendel, Grendel's Mother, and the Dragon. The gold versions share the same reverse designs as their silver counterparts, with proof editions available at limited mintages for collectors.

An additional collecting dimension comes from the monarch transition. The Robin Hood, King Arthur, and Merlin coins carry Queen Elizabeth II's portrait (Jody Clark effigy), while Morgan Le Fay and the Beowulf collection feature the King Charles III portrait (Martin Jennings effigy). This makes the earlier designs the only Myths and Legends issues to bear the late Queen's likeness.

Myths and Legends Gold Coin Specifications

Complete Gold Coin List

Silver bullion versions use .9999 fine silver (matching the Britannia standard), carry a £2 face value, and measure 38.61mm in diameter. Proof editions are produced with mintages between 500 and 2,510 per coin, with 2oz silver proof sets of three coins limited to 510 sets. The gold bullion coins do not have individually stated mintage limits in the way that the proofs do; they are produced to meet demand but in significantly lower volumes than the standard Britannia. 10oz silver bullion versions (89mm diameter) have been produced for some designs, targeting larger investors who want the themed design at greater weight. The gold coins share the same 32.69mm diameter and .9999 purity as the standard gold Britannia, and are struck to the same manufacturing standards at the Royal Mint's facility in Llantrisant, Wales. The £100 face value is nominal and has no bearing on the coin's market price, which tracks the gold content value plus the applicable premium.

Myths and Legends Gold Coin Tax Treatment

The Myths and Legends gold coins are UK legal tender, issued by The Royal Mint. This legal tender status provides the most favourable tax treatment available in the UK bullion market.

United Kingdom

VAT-free as investment gold. CGT-exempt because the coins are UK legal tender issued by the Royal Mint. This double exemption (no tax on purchase, no tax on sale) is the same advantage held by the gold Britannia and Sovereign, and is not available on any non-UK legal tender gold coin, regardless of purity or origin. SIPP-eligible as qualifying gold bullion.

United States

No federal sales tax. State exemptions vary. The .9999 purity meets IRA fineness requirements under the generic bullion provision, though Royal Mint Myths and Legends coins are not specifically named in IRS Section 408(m)(3)(A). Confirm eligibility with your IRA custodian. Capital gains taxed at the collectibles rate of up to 28%.

European Union

Gold coins that are legal tender, minted after 1800, of 900+ fineness, and normally sold at no more than 80% above gold content value qualify for VAT exemption under EU Directive 98/80/EC. The Myths and Legends gold coins should qualify on all criteria.

Canada

GST/HST-exempt as investment gold exceeding the 99.5% purity threshold. Capital gains subject to the 50% inclusion rate.

Australia

GST-free as investment-grade gold of 99.5%+ purity that is legal tender. Capital gains subject to CGT with a 50% discount for holdings over 12 months.

Singapore

GST-exempt under the IPM scheme for gold coins of 99.5%+ purity that are or were legal tender. No capital gains tax.

Hong Kong

No sales tax, no import duty, no capital gains tax.

New Zealand

GST-exempt for fine gold of 99.5%+ purity. No formal capital gains tax.

British Folklore in 24-Karat Gold

The Myths and Legends series launched in 2021 as The Royal Mint's entry into themed annual bullion collections, following the model established by its own Queen's Beasts series (2016-2021). The Queen's Beasts had run for 10 designs featuring heraldic animals and proved that collectors would buy complete sets of themed Royal Mint bullion at premiums above the standard Britannia. Myths and Legends continued this market positioning with a shift from heraldry to folklore.

The debut coin featured Robin Hood, the most internationally recognisable figure from British mythology. The outlaw archer of Sherwood Forest is a character known worldwide, giving the series an immediately accessible entry point. Little John and Maid Marian followed in 2022 to complete the three-coin Robin Hood collection.

The King Arthur collection (2023-2024) moved into Arthurian legend, with separate coins for King Arthur, Merlin, and Morgan Le Fay. This collection spans the monarch transition: King Arthur and Merlin (2023) carry Queen Elizabeth II's portrait, while Morgan Le Fay (2024) was the first Myths and Legends coin to feature King Charles III. This transition adds a layer of numismatic interest to the early coins in the series.

The Beowulf collection (2024-2025) draws from the oldest surviving long poem in Old English, composed between approximately 700 and 1000 AD. This makes Beowulf the most ancient source material in the series. David Lawrence designed the Beowulf and Grendel coin, depicting the hero's battle with the monster in a composition that balances narrative drama with the constraints of coin design. The collection continues with Beowulf's encounters with Grendel's Mother and the Dragon.

The series runs concurrently with the Tudor Beasts (2023 onward), another themed Royal Mint collection focused on heraldic creatures. Both series target the same collector market, but Myths and Legends distinguishes itself through narrative storytelling rather than symbolic heraldry. Unlike the core Britannia, these coins lack advanced security features such as surface animation and tincture technology, relying instead on Royal Mint provenance and dealer authentication.

Myths and Legends Gold vs Britannia and Other Royal Mint Gold

For UK buyers, the most important comparison is with the gold Britannia. Both are CGT-exempt UK legal tender, VAT-free, and struck to .9999 purity. The Britannia has far deeper secondary market liquidity, more advanced security features (surface animation and tincture technology introduced by Jody Clark), and wider international dealer recognition. Myths and Legends coins carry higher premiums but offer annual design changes and the collecting appeal of thematic sets. For pure investment efficiency, the Britannia is the better choice. For UK buyers who want CGT-exempt gold with collecting variety, Myths and Legends fills a gap.

The Queen's Beasts series (2016-2021) is the direct predecessor. That series ran for 10 heraldic animal designs in silver and gold, establishing the market for themed Royal Mint bullion collections. Completed Queen's Beasts sets now trade at premiums above their original issue prices. Myths and Legends follows the same three-year collection cycle but uses narrative themes instead of heraldry.

Against non-UK sovereign coins, the Myths and Legends' CGT exemption is the decisive advantage for UK residents. A 1oz Canadian Maple Leaf, 1oz Krugerrand, or 1oz American Eagle purchased by a UK buyer would be subject to CGT on any gain, while the Myths and Legends coin is not. This tax difference can represent thousands of pounds on a significant holding sold after gold appreciation.

The premium trade-off is real, however. Myths and Legends coins are priced above the Britannia on issue and face wider buy-sell spreads on the secondary market due to lower production volumes. Buyers outside the UK, who cannot benefit from the CGT exemption, will generally find better value in mainstream sovereign coins with established global liquidity.