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About the Britannia and Liberty Silver
A Transatlantic First in Silver Bullion
The Britannia and Liberty series is the product of a collaboration between The Royal Mint and the United States Mint, the first joint programme in either institution's history. Launched in 2024 with gold coins, the series expanded into silver bullion in 2025 with a 1 oz 999 fine silver coin carrying a £2 face value and a mintage of 50,000 pieces. Additional formats include a 1 oz silver bar and a 10 oz silver bar from The Royal Mint.
The reverse design places the two allegorical figures in opposing profile portraits, arranged like the faces on a playing card so that neither nation's symbol takes precedence. Britannia carries her trident and wears a Corinthian helmet; Liberty holds a torch and is adorned with stars. The shared design was created by Royal Mint Chief Engraver Gordon Summers and US Mint Chief Engraver Joseph Menna, bringing together two traditions of numismatic art that had never previously intersected.
For buyers comparing this against the standard silver Britannia, the key trade-off is collectibility versus premium. The Britannia and Liberty coins share the same £2 face value and the same legal tender status, which means they carry identical CGT exemption for UK residents. The limited 50,000 mintage of the 1 oz silver coin is substantially lower than the standard Britannia's uncapped bullion run, translating to higher premiums at purchase but potential secondary market appreciation. Buyers focused purely on silver weight per pound spent will find the standard Britannia more cost-effective.
The series is also available in larger and fractional silver formats, including 2 oz and 5 oz coins, as well as a 1 kilo coin. The bar versions use 999.9 fine silver for the 10 oz weight, while the coins are struck in 999 fine silver, matching the standard Britannia specification.
Silver Britannia and Liberty Denominations
| Format | Weight | Purity | Face Value | Mintage (2025) |
|---|---|---|---|---|
| 1 oz Coin | 31.1035 g | 999 fine silver | £2 | 50,000 |
| 2 oz Coin | 62.207 g | 999 fine silver | £5 | Not published |
| 5 oz Coin | 155.517 g | 999 fine silver | £10 | Not published |
| 1 Kilo Coin | 1,000 g | 999 fine silver | £500 | Not published |
| 1 oz Bar | 31.1035 g | 999 fine silver | N/A | Not published |
| 10 oz Bar | 311.035 g | 9999 fine silver | N/A | Not published |
The coin versions carry UK legal tender denominations and feature the Martin Jennings portrait of King Charles III on the obverse. The bar versions have no face value and no legal tender status. Both coins and bars carry the Royal Mint's standard security suite for bullion products, including latent image, micro-text, tincture lines, and surface animation on the coin versions.
The 10 oz bar stands out with its 9999 fine silver purity, one step above the 999 standard used for the coins and the 1 oz bar. This makes it the highest-purity silver product in the Britannia and Liberty range.
Tax Treatment for Silver Britannia and Liberty Products
The tax position of this series splits between the coins (which are UK legal tender) and the bars (which are not). This distinction matters considerably for UK buyers.
United Kingdom
All silver products in the UK attract 20% VAT on purchase, and the Britannia and Liberty range is no exception for either coins or bars. The critical advantage of the coin versions is on disposal: as UK legal tender, they are exempt from Capital Gains Tax. This is the same exemption that applies to silver Britannias and gold Sovereigns. The bars, lacking legal tender status, are subject to CGT at the individual's rate (currently 18% or 24%) above the annual £3,000 allowance. For UK buyers who expect silver prices to appreciate significantly, the coins' CGT exemption can offset the higher purchase premium over time.
United States
The US Mint issued its own version of the collaboration in 2024, but the silver product was classified as a medal (no denomination, no legal tender status). The Royal Mint silver coins are foreign legal tender and meet the 999 purity threshold, so they may qualify for inclusion in a precious metals IRA, though custodian acceptance of this relatively new product should be confirmed. Sales tax treatment follows standard state-by-state bullion exemptions, with approximately 35 states exempting investment silver.
Canada, Australia, and New Zealand
In Canada, silver bullion at 99.9%+ purity is exempt from GST/HST, covering all Britannia and Liberty products. In Australia, the GST exemption threshold for silver is 99.9%, which the 999 fine coins meet. New Zealand exempts fine silver at 99.9%+ purity from its 15% GST. In all three countries, capital gains on bullion are taxable, with no special exemption for this series.
Singapore and Hong Kong
Singapore's Investment Precious Metals scheme exempts qualifying silver (99.9%+ purity, legal tender) from 9% GST. Hong Kong applies no sales tax, import duty, or capital gains tax to silver bullion of any kind.
Britannia and Liberty vs Standard Britannia and Other Silver Coins
The most direct comparison is with the standard silver Britannia. Both coins share the same £2 face value, the same CGT exemption for UK buyers, and the same 999 fine silver purity at the 1 oz weight. The standard Britannia benefits from established global liquidity, uncapped mintage keeping premiums lower, and The Royal Mint's four-feature security suite (latent image, micro-text, tincture lines, surface animation). The Britannia and Liberty carries the added appeal of historical significance as the first-ever Royal Mint and US Mint collaboration, plus lower mintages that may support secondary market values.
Against the Canadian Silver Maple Leaf, the Britannia and Liberty sits at a purity disadvantage (999 vs the Maple Leaf's 999.9) but offers UK legal tender status with its CGT benefit, something no foreign coin provides to UK buyers. The Maple Leaf's MintShield anti-tarnish technology is a practical advantage for long-term storage, and its unlimited mintage keeps premiums consistently lower.
Compared to the Austrian Silver Philharmonic, the Britannia and Liberty commands a higher premium for a similar quantity of fine silver. The Philharmonic is typically one of the lowest-premium sovereign silver coins available, making it the better choice for buyers maximising metal weight per unit of currency. The Britannia and Liberty's appeal is in its limited production and the historical collaboration it represents.
For buyers considering the Myths and Legends series from the same mint, both offer UK legal tender status and CGT exemption. Myths and Legends coins change design with each release (Robin Hood, King Arthur, Beowulf story arcs), while the Britannia and Liberty maintains its shared allegorical design. Both sit at premium levels above the standard Britannia, targeting buyers who value collectibility alongside bullion investment.