At Cheshire Gold Xchange we handle lots of Britannia coins each year through our buyers and sellers. The Britannia coin has been a symbol of British strength and stability. The Britannia is a hugely popular coin in both silver and gold. Minted by The Royal Mint, we will discuss the history of the Britannia coin, how to identify a potential fake, and where to sell a Britannia coin.
The Gold Britannia coin was first introduced in 1987 when it was first minted by the British Royal Mint. The Silver Britannia followed in 1997. The coin was named after the Roman and British goddess named ‘Britannia’. The Britannia coin was conceived to offer a British alternative to the South African Krugerrand, the Canadian Maple Leaf, and the American Eagle gold coins. The British Britannia coin is depicted with a trident, shield, and helmet, and has since become a symbol of Britain’s resolve and heritage.
The Royal mint have produced various sizes and special editions of the Britannia coin that have commemorated various events and anniversaries in British history. The coin has been used a medium of artistic expression. In 2012 to celebrate the London Olympics we saw a limited edition release Britannia coin. These limited run coins have become collectibles amongst enthusiasts.
First minted in gold, the Britannia gold coin is made from 22 carat gold 91.67% purity) up to 2012. From 2013 onwards, the Royal Mint increased the coin gold content to 24 carats (99.99% purity). This brought the gold Britannia up to the highest standard for gold coins. The current 1 oz gold coin has a diameter of about 32.69mm and contains exactly 1 troy ounce (31.1035 g) of fine gold.
The silver Britannia, introduced in 1997 to commemorate the coin’s 10th anniversary, was initially minted in Britannia silver (95.8% purity) but then shifted to a purer form of 99.9% silver in 2013 to match the gold version’s standard. The current 1 oz silver coin is typically 38.61mm in diameter with 1 troy ounce (31.21 g) of fine silver.
British Britannia coins bear distinct markers that identify their authenticity, these markers are a good indication for authenticity but cannot be relied upon 100%. Key features of the coin include:
Design Details: The depiction of Britannia should be sharp and precise, with no blurring, rough edges or inconsistencies in the imagery. If there are errors in the coin image this is likely a fake.
Coin Edge Inscriptions: The coin’s edge might have a unique inscription or ribbed serration, a feature difficult for counterfeiters to replicate accurately.
Weight and Dimensions: Genuine Britannia coins have specific weights and diameters. Gold Britannia’s weigh 1 troy ounce (31.1 grams) with a diameter of 32.69mm, and Silver Britannia’s also weigh 1 troy ounce but with a slightly larger diameter of 38.61mm due to the metal’s lower density. The weight of the coin is a good indication of authenticity but again cannot be relied upon 100% as coin counterfeiters are using other metals to weight match.
Despite the measures taken to ensure the Britannia’s authenticity, counterfeit versions do exist and are circulating in the market. There are some simple tests to spot fakes, the below methods should be used as an indication and we always advise you taking your coins to a professional for an appraisal.
Magnet Test: Gold and silver are non-magnetic. If a Britannia coin is attracted to a magnet, it’s a counterfeit.
Sound Test: Dropping a Britannia coin on a hard surface should produce a distinctive ring; a dull thud may indicate a fake coin. You can research this test on YouTube to hear an example of the expected sound.
Size and Weight: Counterfeit coins often deviate from the official dimensions and weight, as fakers don’t have the accuracy and machining skills to produce exact consistent coin dimensions. A precise scale and calliper can help verify these metrics.
Visual Inspection: Look for imperfections and inconsistencies in stamped design and finish. Many fakes will have imperfections not found in the meticulously produced genuine versions.
Changing Designs: While the image of Britannia is a constant, the design details surrounding her evolve. The Royal Mint occasionally introduces new designs, making each year’s issue unique.
Collector’s Items: Special editions and proofs of Britannia coins are highly sought after by collectors. These often feature unique designs or finishes and are produced in limited quantities.
Legal Tender: Britannia coins are legal tender in the UK. Their face value is symbolic, however, as the market value of the precious metal significantly surpasses this amount. 1 oz Gold Britannia’s have a face value of £100, and £2 for 1 oz Silver Britannia’s.
Gold Britannia Coins: Gold Britannia’s track the current market price (also known as spot price) of gold plus/minus a physical coin premium (fabrication, distribution and dealer costs). For instance, if the price of gold is £2,500 per ounce, a 1-ounce Gold Britannia’s base value would generally be around that price, not accounting for any numismatic or collector’s value with special editions or rare Britannia’s.
Silver Britannia Coins: Similar to the gold Britannia’s, silver Britannia’s are influenced by the silver spot price. These coins are also typically 1 troy ounce of silver, and their value adjusts with the silver price. If silver is trading at £28 per ounce, that sets the base price for a Silver Britannia.
For those looking to sell gold Britannia coins, several options exist. You can choose an established specialist gold coin buyer like ourselves. We always advise you visit a specialist bullion dealer when looking to sell precious metal coins. You must ensure you are getting an accurate, fair and transparent offer for your Britannia coins.
At Cheshire Gold Xchange we can offer a quick valuation service with immediate payment. Selling gold or silver Britannia’s could not be easier. You can also sell your gold coins online, via our online gold selling page.
When coming to sell Britannia coins its important you have done your research to check the current precious metal pricing and the prices at which the coins are selling for online. Choosing a specialist cash for gold business that is 5 star rated and displays their pricing online can be a safe and secure option.
The Britannia coin, with its rich history and embodiment in precious metals, stands as a testament to Britain’s legacy and a coveted piece for investors and collectors. Understanding its history, the specifics of its gold and silver variants, how to authenticate it, and ways to navigate the selling process, equips enthusiasts with the knowledge needed to appreciate and engage with this iconic coin to its fullest. Whether as an investment or a piece of numismatic art, the Britannia coin continues to captivate and symbolize the strength and endurance of its namesake.
Receive your prepaid, insured envelope to send your gold to us. Find out more visit Sell Gold Online
