1/4 oz The Lion and The Eagle Gold Coin

An Anglo-American Bullion Coin from The Royal Mint

The 1/4 oz Royal Mint Lion and Eagle Gold Coin is part of a collaborative bullion series that debuted in 2024, uniting two of the most recognised national symbols in numismatics: the British lion and the American bald eagle. The quarter-ounce denomination contains 999.9 fine gold with a GBP 25 face value as UK legal tender, carrying CGT exemption for UK residents. This is a bullion programme with unlimited mintage, not a limited-edition collector series.

The inaugural 2024-2025 reverse was designed by John M. Mercanti, former 12th Chief Engraver of the United States Mint (2006-2010). Mercanti is best known for designing the reverse of the American Silver Eagle, making him the only person to have created official bullion coin designs for both the US Mint and The Royal Mint. His design places the eagle in the foreground with the British lion standing behind it, the lion's paw extending beyond the central circle to create a layered three-dimensional effect. The 2026 issue introduces a new reverse by Jonathan Olliffe, establishing this as a rotating-design series.

The series represents a deliberate Royal Mint expansion into the US bullion market. The Mercanti connection provides instant recognition for American buyers familiar with his Eagle reverse, and the transatlantic theme gives the coin a marketing angle that pure-play bullion products like the 1/4 oz Maple Leaf lack. For UK investors, the CGT exemption makes it functionally equivalent to a Britannia or Sovereign in tax terms, with a distinctive design aesthetic as the differentiator.

Lion and Eagle 1/4 oz Gold Specifications

Design and Packaging

The obverse carries the Martin Jennings portrait of King Charles III, standard across all Royal Mint bullion coins from 2024 onward. Gold coins are available in individual capsules, tubes of 10, and monster boxes of 100. Silver versions (999 fine) are produced at 1 oz (GBP 2) and 1/2 oz (GBP 1), with silver packaging in tubes of 20 and monster boxes of 500.

Security features follow The Royal Mint's standard bullion protocols, including micro-text borders and surface-level security marks. The series does not carry the four named visual security features found on the Britannia (tincture lines, surface animation, micro-text, and latent image). The 1/10 oz gold denomination (GBP 10, 16.55 mm) was added for the 2025 issue, rounding out the fractional range.

Proof and collector editions exist alongside the bullion range, including a 5 oz silver proof and a 2 oz silver reverse proof with a Liberty Bell privy mark targeted at the US market. The bullion versions carry standard Brilliant Uncirculated finish and are priced at standard bullion premiums, distinct from the higher-premium limited-edition proof issues.

Tax Treatment of the Lion and Eagle

As UK legal tender from The Royal Mint, the Lion and Eagle carries the same tax benefits as the Britannia.

Purchase Tax

• United Kingdom: VAT-free as investment gold.
• European Union: VAT-exempt under the EU Investment Gold Directive.
• United States: No federal sales tax. State-level treatment varies. IRA eligibility for this specific series has not been widely confirmed by US custodians.
• Canada: GST/HST exempt for gold at 99.5% purity or above.
• Australia: GST-free for investment-grade gold.
• Singapore: GST-exempt as an Investment Precious Metal.
• Hong Kong: No sales tax or import duty.

Capital Gains Tax

• UK: CGT-exempt. Gains on disposal are not subject to Capital Gains Tax. This is the same exemption enjoyed by the Britannia, Sovereign, Royal Mint Lunar, and other UK legal tender coins.
• UK SIPP: Eligible for Self-Invested Personal Pensions with income tax relief on contributions.
• USA: Outside retirement accounts, long-term capital gains on bullion are taxed at the 28% collectibles rate. IRA eligibility has not been widely established for this series.
• Germany: Capital gains tax-free if held for more than one year.
• Australia: CGT applies with a 50% discount for holdings over 12 months.

Lion and Eagle vs Britannia and Other Royal Mint Series

The most direct comparison is with the 1/4 oz Britannia, which shares the same mint, purity, face value, and CGT-exempt status. The Britannia holds every practical advantage for a pure investment: deeper secondary market liquidity (decades of continuous production vs two years), four named visual security features, and broader global recognition. The Lion and Eagle's appeal is its distinctive transatlantic theme and the prestige of the Mercanti design.

Against the 1/4 oz St George and the Dragon, the comparison is between two newer Royal Mint bullion ranges. Both share identical specifications and CGT exemption. The St George series draws on 500 years of numismatic heritage; the Lion and Eagle draws on the Anglo-American cultural connection. Both feature rotating reverse designs. The choice between them is primarily aesthetic.

For US buyers, the Lion and Eagle's connection to Mercanti provides a recognition factor that other Royal Mint products lack in the American market. The 1/4 oz American Eagle remains the dominant fractional gold coin in the US, with established IRA eligibility and unmatched dealer availability. The Lion and Eagle cannot compete on those practical grounds but offers higher purity (999.9 vs 916.7), which may matter for buyers who prioritise fineness.

The series is still young, with only two years of production history. Its long-term value as a bullion investment will depend on whether it builds the secondary market depth needed for competitive buy-back spreads. UK investors have no practical disadvantage in holding Lion and Eagle coins versus Britannias, as both are CGT-exempt and VAT-free. The decision comes down to design preference and whether the buyer values the Britannia's established track record or the Lion and Eagle's distinctive cross-cultural identity.