The new 2016 Britannia 1oz has arrived. The Britannia is exempt from VAT because it is classifired as a bullion coin. The Britannia has a fine weight of 999.9/1000 and therefore is a 24 carat gold coin.
Alloy and weight
The Britannia is a 24 karat gold coin with a fineness of 999.9/1000 and a fine weight of 31.103 grams, which corresponds to an ounce of fine gold. From 1987 to 2012, the coin had a fineness of 916.67/1000. Since 2013 the fineweight is 999.9/1000 with a nominal value if 100 pounds. The Britannia is also available in smaller denominations of ½ oz, ¼ oz and 1/10 oz.
|1oz||31.103 g||32.69 mm||2.79 mm||100 Pounds|
The Britannia gold coin 2016 comes with a border rod and rippled edge. The design of the front panel shows the "Britannia" standing with shield and trident. On her head she wears a Corinthian helmet. The design extends from top and bottom to the edge bar. The label on the front page shows the name and the year of mintage "2016 Britannia", the fine weight "1oz" and fineness "999.9 Finegold".
The reverse shows the profile of Queen Elizabeth II with a crown. The label bears the name of the Queen "Elizabeth II DG" "Reg Fid Def" and the face value "100 pounds".
On the history of the Britannia Gold Coin
The first edition of Britannia was introduced exactly one year after the import ban of Krugerrands in 1987. Minted by the British Royal Mint in Llantrisant, the Britannia was issued with four standard weights 1 oz, ½ oz, ¼ oz and 1/10 oz from the beginning. The coins were minted in 22 carats, which is actually typical for British gold coins, for example the Sovereign. All Britannia gold coins from 1987 to 2012 had the typical the 22 karat fineness of 916.67/1000. These coins are not only easy to identify due to the embossing date, but also because of their typical golden-reddish color. The 22 carat gold coins usually have a high copper content, the most famous example is the Krugerrand. From 2013 the fineness was increased to 999.9/1000.
The advantages of gold coins
One of the main reasons investors should consider gold coins is the exemption from VAT. One benefit gold has over silver is that silver coins are not exempt from VAT.
Furthermore, the price of gold has risen significantly in the last 15 years because gold is required not only in trade and industry, but is suitable for investors to preserve their capital. High investment demand is also reflected in the gold price. Gold coin investments offer a further advantage over shares or a currency since they can lose value entirely but gold coins cannot.
The premium of gold coins vary in the normal range of 3 to 5%, if one opts for 1 oz coins. The motto is here: Compare prices of gold coins.
Gold does not corrode which is one of the biggest advantages of gold coins, especially if they are made of 24 carat gold.
Why is the Britannia 1oz an investment coin?
To qualify as gold bullion coin to benefit from the VAT exemption, four criteria must be met and the gold coin has to be listed in the directory for bullion coins in Germany.
Criteria for VAT exemption
- + The gold coin must have been coined before 1800
- + The gold coin must have a minimum purity of 900/1000
- + The gold coin must be cash or have been in the country of production
- + You must not exceed more than 80% the open market value
Buyer of Britannias should always pay attention to the current gold price and also in principle know about the basic mechanisms of buying gold. Only recognized bullion coins made of gold are exempt from VAT.
In addition to the current gold price the premium plays a very important role in the price of gold coins. As a rule of thumb, the premium is the smallest for 1oz Britannia and the highest for the 1/10 oz.
Because 24K gold coins are relatively soft, they should be treated with great care. Here it is advisable to leave the Britannia in its packaging to protect the coins from scratching.
- Country of origin: United Kingdom
- Manufacturer: Royal Mint
- Karat: 24k
- Fineness: 999.9/1000
- Weight: 1oz
|Country of Origin||United Kingdom|
|Manufacturer||The Royal British Mint|
|Gross Weight||31.10 grams|
|Denomination (oz)||1 oz|
|Year of issue||2016|
|Face value||100 Pounds|
|Packing||Single in Pouch|
|Packing Unit||10 per tube|
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