How much is a Britannia coin worth in 2026?

It depends on metal and denomination. A 1 oz silver Britannia trades at silver spot plus a 5–15% premium, approximately £30–£38 at £30/oz silver. A 1 oz gold Britannia at gold spot plus 3–8% premium, approximately £2,200–£2,500 at £2,100/oz gold. Specific dates command additional premium: the 2013 4-coin gold Britannia set (introduced fineness change to 999.9 gold) trades at £9,500+; the 2017 30th-anniversary silver set at £200+; proof Britannias in original Royal Mint cases at 30–60% over bullion. Pre-2013 22-carat gold Britannias trade at slight discount to 999.9 issues due to lower fineness.

When was the Britannia coin first issued?

Britannia as a coin design dates to 1672 on Charles II copper farthings (modelled on Charles II’s mistress Frances Stuart, Duchess of Richmond) and has appeared continuously since, on copper halfpence (1672–1860), bronze pennies (1860–1970), 50p reverses (1969–2008 then 2017–2022), and as the principal design on the modern bullion Britannia series launched 1987 for gold and 1997 for silver. The modern Britannia series carries Philip Nathan’s 1987 standing Britannia portrait (with regular design refreshes), making it one of the longest-running modern coin programmes in the world.

What is the fineness of a silver Britannia?

Silver Britannias issued 1997–2012 were 958 fine silver (Britannia silver, the historical sterling-plus-trace standard). From 2013 onwards the Royal Mint upgraded the fineness to 999 fine silver (99.9% pure) to match international bullion standards. The 2013 change applied to both gold and silver Britannias simultaneously. A 2012 silver Britannia and a 2013 silver Britannia look identical but are different metals; for bullion-value calculation, 1 oz of 999 silver is 31.1035 g pure, 1 oz of 958 silver contains 29.79 g pure (96.2% of nominal weight).

What is the fineness of a gold Britannia?

1987–2012: 22-carat (916.7 fine, the same as a sovereign), 1 troy oz coin weight 34.05 g for a 1 oz bullion piece. 2013 onwards: 999.9 fine gold (Four Nines), the international bullion standard, with 1 troy oz coin weight reduced to exactly 31.1035 g (pure gold only, no copper alloy). The 2013 change was driven by global bullion-market preference for higher fineness; the 22-carat coins remain popular with collectors who prefer the harder alloy. Both are CGT-exempt as legal-tender UK gold coins under HMRC manual CG78308.

Are Britannias CGT-exempt?

Yes. All UK Britannias (gold and silver, all dates) are exempt from Capital Gains Tax as legal-tender coins issued by the Royal Mint. This is codified in HMRC manual CG78310. The exemption applies regardless of profit. For comparison: foreign gold coins (Krugerrands, US Eagles, Canadian Maple Leafs) are NOT CGT-exempt and any gain above the annual exemption (£3,000 for 2026–27) is taxable. This makes Britannias one of the two CGT-exempt UK bullion options alongside sovereigns, the principal tax reason private UK investors choose them over foreign equivalents.

Sovereign vs Britannia: which should I buy?

Both are CGT-exempt, both legal tender, both Royal Mint. The differences: denomination (sovereign = £1, Britannia = £100/oz gold or £2/oz silver); weight (sovereign 7.988 g, gold Britannia 31.1 g for 1 oz); fineness (sovereign 22-carat, Britannia 999.9 since 2013); liquidity (sovereigns are easier to trade in fractional amounts, you can sell one; selling 1/8th of a Britannia is not a thing); premium (sovereigns typically 4–6% over melt, Britannias 3–8%); collector appeal (sovereigns have a 200-year design history, Britannias have annual design refreshes). For long-term gold accumulation: sovereigns for flexibility, Britannias for higher fineness. See our sovereigns vs Britannias guide for full comparison.

What is the 2 pound Britannia coin?

The £2 face-value silver Britannia is the standard 1 oz silver bullion Britannia issued annually since 1997. The £2 denomination is nominal (the silver content is worth far more) and exists purely to enable CGT-exempt legal-tender status. The 1 oz silver Britannia at £2 face is unrelated to the bimetal £2 circulating coin (which is a different coin entirely, see our £2 coin guide). Both share the £2 denomination but only the silver Britannia is intended as a bullion product.

Are smaller Britannia denominations issued?

Yes. The modern Britannia series is issued in five sizes for both gold and silver: 1 oz, ½ oz, ¼ oz, 1/10 oz, 1/20 oz. The fractional sizes are popular for affordable bullion stacking and gift-giving; the 1/20 oz silver Britannia (1.555 g, 16 mm) is the smallest UK legal-tender silver coin in modern circulation. Fractional gold Britannias carry slightly higher per-ounce premiums than the 1 oz coin (typically 10–20% versus 3–8% for 1 oz) because of fabrication cost economics. For pure bullion accumulation the 1 oz is most cost-efficient.

How do I tell a real Britannia from a fake?

Five checks for the 1 oz gold Britannia (post-2013 999.9 fine): weight exactly 31.10 g ± 0.02 g; diameter 32.69 mm; thickness 2.84 mm; gold non-magnetic (any magnetic attraction = steel core); specific gravity 19.32 g/cm³ (Archimedes water displacement test). For silver Britannia: 31.10 g, 38.61 mm diameter, non-magnetic, 10.49 g/cm³ specific gravity. The Royal Mint produces a free authentication service for high-value examples. Counterfeit gold Britannias do exist, particularly tungsten-cored examples that pass weight tests but fail specific gravity; for any £1,000+ Britannia in unknown provenance, professional authentication is worth the £25–£50 fee.

Britannia Coin Values UK 1987-2026: Silver, Gold, Every Denomination

The modern Britannia series is the Royal Mint’s flagship CGT-exempt bullion programme, running since 1987 for gold and 1997 for silver. Philip Nathan’s standing Britannia design has been refreshed annually since launch and the coin has gone through a major fineness upgrade (gold 22ct → 999.9 and silver 958 → 999 in 2013). This guide covers every size and metal, the 1987–2026 design timeline, current bullion-floor values, the sovereign-vs-Britannia decision, and where to buy and sell.

Last updated: 27 August 2026

In brief. Silver Britannia 1 oz at £30–£38 (silver spot +5-15%). Gold Britannia 1 oz at £2,200–£2,500 (gold spot +3-8%). All UK Britannias CGT-exempt as legal tender (HMRC CG78310). 2013 fineness upgrade: gold 22ct → 999.9 ("Four Nines"), silver 958 → 999. Available 1 oz / ½ oz / ¼ oz / 1/10 oz / 1/20 oz.