1 oz Myths and Legends Gold Coin

The Royal Mint's British Folklore Gold Bullion Series

The 1 oz Myths and Legends gold coin is part of the Royal Mint's themed bullion programme drawing on British folklore and mythology. Launched in 2021, 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). Struck in .9999 fine gold with a face value of 100 GBP, every coin in the series is UK legal tender and exempt from Capital Gains Tax for UK residents.

The CGT exemption gives the Myths and Legends series the same tax advantage as the 1oz Gold Britannia, making it a genuine investment vehicle rather than a pure collectible. The key difference is that the Britannia carries unlimited mintage and the lowest premiums, making it the default choice for cost-efficient accumulation. Myths and Legends targets a different buyer: one who wants CGT-free gold with annually changing designs, thematic variety, and the satisfaction of collecting a complete narrative set.

The series began with Robin Hood, the most internationally recognisable figure from British folklore. Little John and Maid Marian completed the first trio. The second collection centred on King Arthur, Merlin, and Morgan Le Fay. The third draws from the oldest surviving long poem in Old English, Beowulf (c. 700-1000 CE), with coins depicting Beowulf and Grendel, Grendel's Mother, and the Dragon. Each collection tells a cohesive story across its three coins.

The transition from Queen Elizabeth II to King Charles III occurred during the King Arthur collection. Robin Hood, Little John, Maid Marian, King Arthur, and Merlin carry the Elizabeth II portrait (Jody Clark effigy). Morgan Le Fay and the full Beowulf collection carry the Charles III portrait (Martin Jennings). This makes the earlier coins the only Myths and Legends issues with the late Queen's portrait, potentially adding numismatic interest as a closed set.

Myths and Legends Gold Coin Specifications

Complete Coin List

Available Formats

Silver bullion versions (1 oz, .9999 fine, 38.61 mm, 2 GBP face value) are available for each design. Proof editions exist in 1 oz silver (mintage 1,510-2,510 per coin) and 2 oz silver (around 500-510 per coin). A 10 oz silver bullion format (89 mm diameter) was produced for some designs, targeting larger-volume buyers. The silver bullion uses .9999 fineness, matching the Britannia standard rather than the .999 purity more commonly found at other mints. Authentication relies on Royal Mint provenance and authorised dealer channels, as the series does not incorporate the Britannia's specific surface animation or tincture security features.

Myths and Legends Tax Treatment by Country

United Kingdom

All coins in the Myths and Legends series are UK legal tender and therefore CGT-exempt. Gains on disposal are entirely free from Capital Gains Tax, regardless of the amount. The gold coins are additionally VAT-free as investment gold. Silver bullion coins are subject to 20% VAT on purchase but retain the CGT exemption on disposal.

The series is eligible for SIPP (Self-Invested Personal Pension) inclusion as investment gold. Tax relief is available at the individual's marginal rate (up to 45%), and gold held within a SIPP is also exempt from CGT. This makes Myths and Legends gold coins one of the most tax-efficient ways to hold gold in the UK, combining purchase-level VAT exemption with disposal-level CGT exemption and pension-level tax relief.

United States

No federal sales tax. Over 35 states exempt precious metals from state sales tax. The .9999 purity exceeds the IRS 99.5% minimum for gold IRA eligibility. Long-term capital gains are taxed at the collectibles rate of up to 28%. US buyers should note that the CGT exemption is specific to UK tax law and has no equivalent in the US system.

European Union

VAT-exempt as investment gold under Directive 98/80/EC. The coin qualifies as a post-1800 legal tender gold coin of 900+ fineness. Germany's one-year holding period exemption applies: gold held for more than 12 months is free from capital gains tax for German residents.

Canada

GST/HST exempt as a gold coin of 99.5%+ purity. Not commonly stocked by Canadian dealers, so availability may require importing from UK or US dealers.

Australia

GST-free as investment-grade gold at 99.5%+ purity. Capital gains tax applies, with the 50% discount for assets held over 12 months.

Myths and Legends vs Britannia, Tudor Beasts, and International Competitors

Within the Royal Mint's own range, the Myths and Legends series is positioned between the Britannia and proof-only collector editions. The 1oz Gold Britannia is the benchmark for UK gold investment: unlimited mintage, lowest premiums, widest dealer availability, and the most advanced security features of any gold coin. It is the right choice for buyers focused solely on accumulating gold at minimal cost above spot. Myths and Legends appeals to buyers who want the same CGT-exempt, .9999 gold but with annually changing designs and a narrative collecting experience.

The Tudor Beasts series occupies similar ground: limited-mintage Royal Mint bullion with heraldic creature designs, .9999 gold, and CGT exemption. Tudor Beasts draws from English heraldic history (the Lion of England, Yale of Beaufort, etc.), and Myths and Legends draws from folklore and literature. Both are valid options for buyers building a diversified collection of CGT-free gold. The choice is primarily thematic preference.

The Legendary Creatures series, launched in 2026, is the Royal Mint's newest competitor to Myths and Legends. It focuses specifically on mythical beasts (starting with the Loch Ness Monster) rather than human characters. The two series complement each other: Myths and Legends for character-driven stories, Legendary Creatures for monster designs.

Against international competitors, the Myths and Legends gold coin holds its own. The 1oz Gold Maple Leaf offers lower premiums and Bullion DNA security, but lacks UK CGT exemption. The 1oz Gold Krugerrand has deeper global liquidity at lower premiums, but again, no CGT exemption for UK buyers. For UK-based investors, the tax advantage is a significant long-term benefit that can outweigh premium differences, especially for gold held through market appreciation.