Once you start investigating the variety of foreign gold coins available globally, the sheer choice can be overwhelming. Coins are produced by many obscure mints, established mints manufacture special edition and commemorative coins, and even well-recognised coins are produced in fractional versions. To help you select only the best coins for investment purposes, we’ve narrowed it down to the following 1oz gold coins:
Also, we sell a Chinese Panda 30g gold coin. These are manufactured by some of the world’s leading mints including the Australian Mint, Austrian Mint, Canadian Mint, South African Mint and the US Mint.
These are all bullion coins, rather than proof versions which trade at premiums of 20-30%. This provides far better value to the precious metals investor as you’re able to own far more gold for your money. Dealers rarely pay the same premium for proof finish coins as you paid when you bought. They’re also all 1oz versions rather than the smaller fractional editions. This means they’re cheaper per gram to buy than the half, quarter and tenth ounce versions as manufacturing costs are reduced. The 1oz coins feel impressive in the hand and their value is easy to track by comparing to the live spot price of gold which is also quoted in ounces. Crucially, all the coins in this section are incredibly well-known and established gold coins, which can be easily sold not only in the UK but around the world. This deep gold liquidity always achieves the best sale price, rather than trying to sell specialist foreign gold coins.
Since 1 January 2000, investment gold is not liable for Value Added Tax (VAT). All our gold, whether in this section, another gold coin sector, or our gold bars section, is investment grade, so you can rest assured that none of our gold products will attract VAT. However, the main tax difference between foreign and UK gold coins is the treatment of Capital Gains Tax (CGT). While all UK residents benefit from UK coins being CGT-free, the non-UK coins do in theory attract CGT.
UK minted coins are classed as legal tender in the UK due to their face value, which means the Treasury can’t tax the movement of legal tender. However, CGT on Foreign coins isn’t necessarily something that will impact your profits. CGT is paid on any profit made when selling an asset in the UK (except for your primary residence and certain exempt assets). However, each person is permitted to make a certain level of profit each year without paying CGT, known as their annual allowance. This currently stands at just over £11,000, which means you’d have to sell quite a few foreign gold coins at once, and the market would have to move up significantly in the time of holding for you to incur ant tax charge at all. For larger investments, the CGT does become more relevant so you may want to consider buying Gold Britannias instead, which are the UK, tax free version of these foreign 1oz coins. For everyone else, diversity is key within the investment world, so there’s certainly a place for these foreign coins in a well-balanced portfolio.
Gold coins can be either stored at home or offsite. To view solutions for the home click on our accessories page and also read our FAQs, which contains answers to delivery and storage questions. For secure offsite storage read our delivery and storage page, which contains lots of additional information.