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About the The Lion and The Eagle Gold
An Anglo-American Gold Coin from The Royal Mint
The Lion and the Eagle is a gold bullion series launched in 2024 by The Royal Mint, uniting two national heraldic symbols: the British lion and the American bald eagle. The inaugural reverse was designed by John M. Mercanti, the former 12th Chief Engraver of the United States Mint, best known for designing the reverse of the American Silver Eagle. Mercanti is the only person to have designed official bullion coins for both the US Mint and the Royal Mint.
The gold range comprises three sizes: 1oz, 1/4oz, and 1/10oz, all struck from 999.9 fine gold. As UK legal tender from The Royal Mint, every coin is VAT-free on purchase and CGT-exempt on disposal for UK residents, the same tax benefits as the Gold Britannia, Gold Royal Arms, and Gold St George and the Dragon.
The series was launched during a period of deliberate Royal Mint expansion into the US bullion market. Mercanti's involvement gives the coin instant recognition among American collectors and dealers who know his American Silver Eagle reverse. The 2026 issue introduces a new reverse by Jonathan Olliffe, confirming this as a rotating-design series with annual variety. Monster box format (100 x 1oz gold coins) indicates the Royal Mint targets institutional and high-volume buyers alongside individual investors.
The lion in British heraldry dates to the 12th century under Richard I. The three-lion arms of England evolved from that period. The bald eagle became the US national emblem in 1782. Bringing both symbols together on a single coin creates a transatlantic appeal that no other bullion coin offers. For US buyers, this is a Royal Mint product with an American design connection. For UK buyers, it is another CGT-exempt option with a distinctive international theme.
Lion and Eagle Gold Coin Specifications
| Size | Weight | Purity | Diameter | Face Value |
|---|---|---|---|---|
| 1 oz | 31.103 g | 999.9 | 32.69 mm | £100 |
| 1/4 oz | 7.78 g | 999.9 | 22 mm | £25 |
| 1/10 oz | 3.11 g | 999.9 | 16.55 mm | £10 |
Silver versions are also produced: 1oz (999 fine, 38.61 mm, £2 face value) and 1/2oz (999, approximately 27 mm, £1 face value). Edge is reeded on all denominations. Finish is Brilliant Uncirculated (bullion standard).
Packaging
- Individual coins in capsules
- Tubes of 10 (gold) or 20 (silver)
- Monster boxes of 100 (gold) or 500 (silver)
Design Details
2024-2025 reverse (John Mercanti): The American eagle sits in the foreground gazing left; the British lion stands behind it. The lion's paw extends beyond the central enclosed circle, creating a layered three-dimensional effect. Originally titled "The British Lion & American Eagle."
2026 reverse (Jonathan Olliffe): New design. Name shortened to "The Lion and The Eagle." Additional sizes added: 1/2oz silver bullion.
The obverse on all issues features the Martin Jennings portrait of King Charles III adopted in 2022. Standard Royal Mint anti-counterfeiting techniques including micro-text borders and surface-level security marks are used, though no specific named security technology (unlike the Britannia's four visual security features) has been identified.
Annual Designers
| Year | Reverse Designer |
|---|---|
| 2024-2025 | John M. Mercanti |
| 2026 | Jonathan Olliffe |
Lion and Eagle Tax Treatment by Country
As UK legal tender from The Royal Mint, Lion and Eagle gold coins receive the full tax advantages available to British bullion coins.
United Kingdom
Gold coins are VAT-free as investment gold. They are CGT-exempt as UK legal tender coins of the United Kingdom. No Capital Gains Tax is payable on profits from selling these coins, regardless of the gain. This is the same exemption available on the Gold Britannia, Gold Sovereign, and all other Royal Mint bullion coins. Silver Lion and Eagle coins are also CGT-exempt but carry 20% VAT at purchase.
Gold Lion and Eagle coins are SIPP-eligible. Gold in a Self-Invested Personal Pension receives tax relief at the marginal rate (up to 45%) and is sheltered from CGT within the pension.
United States
IRA eligibility for this series has not been widely confirmed by major US dealers. The 999.9 purity exceeds the IRS 99.5% minimum, but custodian-specific approval is required. The Mercanti connection may help dealer familiarity, but the coin's newness (2024 launch) means it may not yet appear on all approved lists. Federal capital gains on bullion are taxed at a maximum 28% rate. State sales tax varies.
Canada
Gold coins of 99.5%+ purity are GST/HST-exempt. Lion and Eagle at 999.9 qualify. RRSP and TFSA eligibility depends on custodian acceptance.
European Union
VAT-exempt as investment gold under the EU Investment Gold Directive. Government-issued legal tender coins above 900 fineness, post-1800, qualify.
Australia and New Zealand
GST-free in Australia for investment gold of 99.5%+ purity. GST-exempt in New Zealand for gold coins of 99.5%+ purity.
Singapore and Hong Kong
Singapore: 0% GST as Investment Precious Metal. Hong Kong: no sales tax, no import duty, no capital gains tax.
Lion and Eagle vs Britannia, St George, and American Eagle
The Lion and Eagle competes in a crowded field of Royal Mint gold bullion coins. All share the same core advantages for UK buyers: VAT-free, CGT-exempt, 999.9 fine gold, and The Royal Mint's production quality. The differentiators are design, security features, market depth, and target audience.
The Gold Britannia is The Royal Mint's flagship. In production since 1987, it has the deepest dealer network and secondary market of any UK gold coin. Since 2021, it carries four named security features (surface animation, latent image, tincture lines, micro-text). The Lion and Eagle has standard anti-counterfeiting techniques but no equivalent named security suite. For UK buyers prioritising resale liquidity and proven market acceptance, the Britannia remains the default. The Lion and Eagle is a thematic alternative with a younger market presence.
The Gold St George and the Dragon, launched in the same year (2024), is the closest peer. Both feature annual design rotation, similar weight ranges, identical purity and tax treatment. St George draws on 500 years of the motif on British coinage, giving it deeper historical resonance. The Lion and Eagle has the Mercanti connection and transatlantic appeal. For British cultural traditionalists, St George may resonate more. For buyers who value the Anglo-American design angle and Mercanti's numismatic credentials, the Lion and Eagle has the stronger story.
Against the Gold American Eagle, the comparison is instructive. The American Eagle is 22-karat (916.7 fine), minted by the US Mint, and the most liquid gold coin in the American market. It is IRA-eligible. The Lion and Eagle is 999.9 fine, minted by The Royal Mint, and does not yet have confirmed IRA eligibility. The Mercanti connection bridges the two coins conceptually, but they serve different markets. US buyers wanting IRA-eligible gold will choose the American Eagle or Gold Maple Leaf. UK buyers wanting CGT-exempt gold will choose any Royal Mint coin. The Lion and Eagle's niche is buyers in either market who appreciate the transatlantic symbolism.
The Gold Tudor Beasts and Gold Queen's Beasts also share the annually changing design model with CGT exemption. They focus on British heraldic heritage rather than an international theme. For Royal Mint collectors building diverse holdings across multiple series, the Lion and Eagle adds an international dimension that the purely British-themed series lack.