Gold Britannia vs Gold Sovereign: Which Should You Buy?

The Gold Britannia and the Gold Sovereign are both Royal Mint icons and both CGT-free for UK investors — so here the contest isn't about tax, but about size, history and how you like to buy and sell your gold.

This guide compares the Gold Britannia and the Gold Sovereign on purity, tax, premiums, security and resale value, so you can decide which belongs in your portfolio.

Quick verdict

• Choose the Gold Britannia if you want more pure gold per pound spent in a single 24-carat coin.
• Choose the Gold Sovereign if you want maximum flexibility to buy and sell in small amounts, with two centuries of heritage.

At a glance: Britannia vs Sovereign

Feature	Gold Britannia	Gold Sovereign
Mint	The Royal Mint (UK)	The Royal Mint (UK)
First minted	1987	1817 (modern)
Purity	999.9 fine (24-carat)*	916.7 fine (22-carat)
Pure gold (1 oz coin)	31.10 g	7.32 g
Alloy	None (fine gold)	Gold & copper
Sizes	1 oz, ½, ¼, 1/10 oz	Full, half, quarter, double, quintuple
Legal tender	£100 (GBP)	£1 (GBP)
UK VAT	Exempt	Exempt
UK CGT	Exempt (UK legal tender)	Exempt (UK legal tender)
Security	Latent image, micro-text, tincture lines	Milled edge, fine relief
Design	Britannia / monarch	St George & dragon / monarch
Global liquidity	Very high	Very high
Typical premium	Low–medium	Medium

*Struck in 22-carat gold from 1987–2012, then 999.9 fine from 2013 onwards.

About the Gold Britannia

The Gold Britannia, launched in 1987, is the Royal Mint's modern flagship bullion coin. Now struck in 999.9 fine gold (24-carat) and available primarily in a 1 oz size with fractional options, it pairs Philip Nathan's Britannia figure with the reigning monarch's effigy and a 2021 suite of advanced security features.

As UK legal tender, it is exempt from both VAT and Capital Gains Tax — a major draw for domestic investors.

About the Gold Sovereign

The Gold Sovereign is one of the most historic coins in the world. The modern Sovereign dates from 1817, and for two centuries it served as a workhorse of British and global commerce. It contains 7.32 g of gold (0.2354 oz) in a 22-carat alloy, making it far smaller than a 1 oz coin.

Its reverse usually carries Benedetto Pistrucci's celebrated St George and the dragon, first engraved in 1817, with the monarch on the obverse. Like the Britannia, it is UK legal tender and CGT-free.

Key differences

Purity and gold content

The Britannia is 24-carat (999.9); the Sovereign is 22-carat (916.7), alloyed with copper for durability. The bigger practical difference is size: a Sovereign holds about 0.2354 oz of gold versus the Britannia's full ounce, so Sovereigns let you buy and sell in much smaller increments.

Tax treatment in the UK

Both are UK legal tender, so both are VAT-free and CGT-free — you keep 100% of any gains on either. This rare tie means tax is not the deciding factor here, unlike most other comparisons.

Premiums and value

The Sovereign's small size means a higher premium per gram of gold than the Britannia, which delivers more metal per pound spent. The trade-off is flexibility: Sovereigns are easier to sell piecemeal.

Security and authentication

The Britannia carries the Royal Mint's modern micro-engineered security features. The Sovereign relies on its precise, long-established specifications and fine relief — its two-century track record makes it very well understood by dealers.

Design and collectibility

Pistrucci's St George and the dragon is among the most admired coin designs ever struck; the Britannia figure is its modern classical counterpart. Both are quintessentially British.

Liquidity and resale

Both are extremely liquid in the UK and well known internationally. Sovereigns, with their long history and small size, are especially easy to sell in small amounts.

Pros and cons

Gold Britannia

• Pros: CGT-free and VAT-free, 24-carat purity, More gold per pound spent, Advanced security features
• Cons: Higher entry cost per coin, Softer pure-gold surface

Gold Sovereign

• Pros: CGT-free and VAT-free, Small size = flexible buying and selling, Two centuries of history and trust, Durable 22-carat alloy
• Cons: Higher premium per gram, Lower purity (22-carat), Less gold per coin

Which should you buy?

• Best for value per pound: Gold Britannia — more gold for your money in one coin.
• Best for flexibility: Gold Sovereign — sell small amounts at a time.
• Best for history and tradition: Gold Sovereign — a coin with two centuries of heritage.
• Best for UK investors overall: Either — both are CGT-free, so choose by size and budget.

For more pairings and a full overview of how the leading coins compare, see our gold coins comparison hub.

Britannia vs Sovereign: FAQs

Are both the Britannia and Sovereign CGT-free?

Yes. Both are UK legal tender, so both are exempt from Capital Gains Tax as well as VAT.

How much gold is in a Sovereign?

A full Sovereign contains 7.32 g (0.2354 troy oz) of 22-carat gold. A 1 oz Britannia contains 31.10 g of 24-carat gold.

Which has the lower premium?

The Britannia generally has a lower premium per gram of gold; the Sovereign costs more per gram because it is smaller.

Which is better for beginners?

The Sovereign suits those starting small or wanting flexibility; the Britannia suits those wanting more gold per coin.

Which coin is more historic?

The Sovereign, in its modern form dating to 1817, is far older than the 1987 Britannia.

Buy Gold Britannia and Gold Sovereign coins

Whichever you choose, StoneX Bullion stocks both coins from multiple years of issue, with live pricing updated every 60 seconds and fully insured, discreet delivery across the UK and Europe.

Browse our Gold Britannia and Gold Sovereign coins, or explore our full range of gold coins to start building your portfolio today.