Britannia bullion coins: a niche product becomes an investment classic
The Britannia coin is one of world’s best known and most-coveted bullion coins. Since its introduction by the British Royal Mint in 1987, the Britannia coin has enjoyed great popularity among investors and collectors alike. Offering a classic design, high-level purity and official legal-tender status, the Britannia was initially available exclusively in gold. A silver version was minted in 1997, followed by a platinum version in 2018. Over this same time period it has become a bestseller among investors and collectors of coins and bars.
A proud heritage
The “Britannia” descriptor for this precious metal coin is derived from the ancient Roman name for the island of Great Britain. In Roman times, the regions we now refer to as Great Britain were then called “Britannia” or “Britain”. Throughout history, this term has regularly been used to denote the geographic concepts of the British Isles and the United Kingdom respectively.
A bullion coin bearing the title “Britannia” reflects its connection with British history and culture. Indeed, Britannia herself is a symbolic figure which embodies Great Britain and has been used as a personified representation of the island since at least early Roman times. And down the years, Britannia has continued to play an important role in British iconography.
In choosing the name “Britannia” for its bullion coin, the Royal Mint drew on this historical symbolism to create a coin that represents British identity and national pride. The name “Britannia” thus gives the coin a certain dignity together with a strong connection to British history and culture.
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History of the Britannia coin: a symbol of Britain's history and culture
The history of the Britannia bullion coin dates back to 1987 when it was first introduced by the Royal Mint – i.e. the royal mint of Great Britain. It was designed as a bullion coin which would be a symbol of British history and culture. The magnificent design was crafted by the British sculptor and engraver Philip Nathan, renowned throughout the world for his sculptures, medals and coins. His designs often reference historical and mythological themes like those which can be seen on the Britannia coin. As previously mentioned, the primary motif is Britannia herself, an allegorical female figure which traditionally personifies Great Britain. Thus Britannia is often depicted as a powerful woman with a trident and a shield, often with maritime elements such as ships and waves appearing in the background.
The original Britannia was an exclusively gold coin with a fineness of 91.67% (22 carats) and a face value of £100. However, in 2013 the Royal Mint switched to a higher fineness of 99.99% pure gold for the one-ounce coin. The other versions have been similarly adjusted and now have the same high degree of purity.
| Size | Diameter | Thickness | Weight | Face Value |
|---|---|---|---|---|
|
1/10 ounce |
16.50 mm |
1.17 mm |
3.412 g |
£ 10 |
|
1/4 ounce |
22.00 mm |
1.63 mm |
8.513 g |
£ 25 |
|
1/2 ounce |
27.00 mm |
2.08 mm |
17.025 g |
£ 50 |
|
1 ounce |
32.69 mm |
2.79 mm |
34.05 g |
£ 100 |
Not just a gold coin
In addition to the original Britannia gold coin, silver and platinum versions of the coin are now also available.
A silver coin was first minted in 1997 with a purity of 95.8%. The annual coin mintage now amounts to 2,500 proofs and 100,000 pieces in uncirculated condition. It should be noted that the first edition was only available as a proof. The anniversary edition from 2017 is a very special variant of the Britannia silver coin which features a unique trident ‘20’ mint mark on the face of the coin. The mintage of this particular coin was limited to just 120,000 copies. As from 2013, the fineness of the silver coin was increased to 999/1000.
| Size | Diameter | Weight | Face Value |
|---|---|---|---|
|
1/10 ounce |
16.50 mm |
3.25 g |
£ 0,20 |
|
1/4 ounce |
22.00 mm |
8.11 g |
£ 0,50 |
|
1/2 ounce |
27.00 mm |
16.23 g |
£ 1 |
|
1 ounce |
38.61 mm |
32.45 g |
£ 2 |
The introduction of the Britannia platinum coin in 2018 expanded the choice of precious metals available to investors and collectors. This created an interesting addition to the Britannia family representing a further opportunity to invest in this coveted classic design. In visual terms, the platinum coin features the same iconic portrait of Britannia as its gold and silver siblings and has a face value of £100.
Changes to enhance market acceptance
As already mentioned, Britannia gold and silver coins have been minted with increased fineness since 2013. The Royal Mint took this step to counteract a declining market acceptance with investors showing a marked preference for high fineness coins. This measure subsequently enabled the Britannia to match the calibre of well established bullion coins, such as the Vienna Philharmonic.
And with the introduction of the platinum coin, the Britannia could then directly compete with rival platinum coins such as the Eagle, Maple Leaf, Krugerrand and Philharmonic.
A new king and a new motif
As the official currency of the United Kingdom, the Britannia coin was of course affected by the introduction of a new King of England. This coin traditionally features a portrait of the reigning monarch, so the design has now been adapted to depict the new head of state.
Until 2022, the coin featured Queen Elizabeth II, and her portrait also adorned the first coins minted in 2023. However, as a result of her death and the accession of King Charles III, another Britannia coin was created and issued in 2023 showing the new heir to the throne. This means the year 2023 has two variants: a smaller number of coins bearing a portrait of Queen Elizabeth II, and a greater volume carrying a portrait of King Charles.
The Britannia’s fluctuating circulation
In 1987 the mintage of the Britannia gold coin was 92,000, but its circulation volume has been declining since then. There were years when only proofs or coin sets were minted. Currently (as of June 2023) Britannia’s market share is around one percent. The mintage of silver coin runs to around 2,500 proofs and 100,000 uncirculated coins per year. Mintage figures for platinum coinage are currently unknown (as of June 2023).
A solid position on the world market
The Britannia bullion coin occupies a significant position on the world market. It is one of the established and respected bullion coins, and remains very popular with investors and collectors worldwide. This is in part due to its source: The Royal Mint has an excellent reputation for the quality and precision of its minted coins, and is invariably seen as a reliable, trustworthy manufacturer, a feature which goes hand in hand with the Britannia’s high degree of purity. The one-ounce gold coin has a 99.99% gold purity, while the silver coin likewise has a purity of 99.9%. This high degree of fineness ensures the quality and value of the precious metals these bullion coins contain.
Furthermore, the strong sentiment attached to this coin should not be overlooked. It is a symbol of British history and culture which reflects the strength and pride of Britain – a historical significance which increases the coin’s appeal. The design and variety of the coinage is a further attraction. The Royal Mint regularly introduces new designs and variations of the Britannia coin to the market. In addition to the standard editions, there are limited editions, special editions with special finishes or refinements, as well as commemorative coins. This rich variety of designs and modifications appeals to collectors and expands the market for Britannia bullion coins.
The Britannia coin undoubtedly enjoys a high level of universal recognition, which is why it is so readily accepted and traded around the globe. This broad international demand contributes to the coin’s liquidity and market value.
Buy Britannia gold or silver coins and keep them safe
Purchasing physical investment products is primarily a matter of trust. This naturally includes purchasing gold or silver Britannia coins, one of the classic investments. And investors who have already opted to store their precious metals in Switzerland with Swiss Gold Safe can also expand their holdings in the same country. The specialist Swiss retailer Echtgeld AG, for example, has a range of Britannia coins. These can be purchased online as well as over the counter from company stores. Besides individual coins, larger consignments are also available in coin tubes or monster boxes.
Thanks to the close business collaboration between Swiss Gold Safe and Echtgeld, mutual customers can enjoy a comprehensive service. For example, the specialist retailer can deliver purchased Britannia coins direct to the storage company vault. Gold coins can be stored in suitably-sized safe deposit boxes available in Switzerland or Liechtenstein, or alternatively, held in allocated & segregated storage in Swiss domestic warehouses. Britannia silver coins are best deposited in a duty-free warehouse, because the purchase of these white metals is then VAT-exempt. All Swiss Gold Safe storage options are carried out with absolute discretion, are guaranteed bank-independent, and include a tailor-made insurance package. The provider also ensures investors have an equally convenient option to sell precious metals via Echtgeld. Novice investors in particular can learn more about physical precious-metal assets in the article ‘Background knowledge about precious metal coins and bars’.
The Britannia coin at a glance
- The Britannia coin was first minted by the British Royal Mint in 1987 and has since become a coveted bullion coin.
- The coin is available in precious metal variants of gold, silver and platinum, with the mint focusing on a very high level of fineness for each version.
- The Britannia coin design features a depiction of Britannia, an allegorical female figure representing Great Britain.
- Investors appreciate the high degree of purity, excellent minting quality, and historical importance of this coin.
- Because of the accession of King Charles III to the throne, Britannia coins issued in 2023 may either have a portrait of the late Queen Elizabeth, or of her successor.