What Are The Best Gold Coins For Investment In 2023

There is a strong argument to be made that gold coins are the best option for smaller investors into gold.

They can be free from Capital Gains Tax, are stored easily and need little maintenance. Not only that, but the gold market remains buoyant as you can see through our live spot gold price.

Not all gold coins are the same, and it’s important to understand what the important buying decisions on the best gold coins for investment are:

• The coins hold good liquidity.
• The coins are the best to buy for your location in the world.
• Tax advantages
• Upside Potential
• The coin size provides flexibility for your portfolio

As UK Investors, you can buy coins here which have additional benefits. We have factored this into our updated 2023 list below.

When starting our UK list for gold coins, it’s a good idea to focus on those which are legal tender, as these will give you the best tax breaks.

The gold Britannia range is one of the best gold bullion coins for UK investors. It is often considered to be a coin that should form the backbone of every gold investor’s portfolio.

Premiums are low on these investment coins due to their lower production cost per gram. This is due to the economies of scale achieved from the coin’s 1oz size (as opposed to a Sovereign which is around a quarter of the size) and the fact that they’re mass produced rather than being part of a collection. Each coin includes a face value of £100, the highest denominated UK gold coin. This is especially relevant to UK investors as it deems the coin free from Capital Gains Tax (CGT). Any UK coin with a face value is classed as legal tender, therefore qualifying as tax free for UK investors.

This is especially beneficial as the UK Government recently announced the tax-free threshold for Capital Gains was to be reduced from £12,300 per annum to £6,000 from April 2023. This tax-free allowance will be further cut to a paltry £3,000 annually from April 2024.

It was first released in 1987 by the Royal Mint, which has long been considered a leading manufacturer due to its laser precise attention to detail. In recent years, the Britannia coin has benefited from Royal Mint’s four enhanced anti-forgery features.

Gold Sovereign coins have been part of British coinage for 200 years, and recognisable across the world. They date back to the Tudors, but the modern sovereign featuring St George was released in 1817.

‘Modern Sovereigns’ are classed as being dated from Queen Victoria onwards. Avoid buying earlier versions with George IV or George III as the high premiums on these coins are more suitable to collectors rather than gold investors.

Generally speaking, the coins increase in value as they get older. So Elizabeth Sovereigns are worth slightly less than George V and Edward VII versions. Sovereigns from the Victorian era are worth more again, due to their historical appeal, with the earliest ‘Young Head’ versions being worth the most.

You may be tempted by 2023’s limited issue Memorial Gold Sovereign, to celebrate the reign of Queen Elizabeth while also commemorating the new chapter of King Charles III. This Sovereign features a unique interpretation of The Royal Arms on its reverse. While it costs more than standard Sovereigns, previous special edition Sovereigns have traded well in the secondary market.

The coins £1 face value may sound uninspiring, but more importantly, this feature grants the coin tax free status, so any profits you make from buying and selling are yours to keep.

Divisibility is also an important consideration, and the sovereign is a good option for this. You can get them in half, quarter and even smaller denominations.

Sovereigns are around a quarter of the size of popular 1 oz coins, making them cheaper alternatives to other bullion coins. They are also extremely easy to store and maintain. The fact that they’re 22 carats in purity, rather than 24 carat, means they are more resilient to scratches.

Liquidity is strong and there is always a good secondary market, meaning Gold sovereigns rarely take long to sell.

The South African mint has been producing this fine gold coin since 1967 and it has become one of the most popular bullion gold coins in the world.

The coin itself is very simple in design, featuring an antelope and is usable across the world.

A large part of the popularity when it comes to the Krugerrand is the fact that it presents the cheapest way to buy gold coins. And while they do not have the same CGT benefits of others in this list, they have outstanding purity and strong liquidity.

The 1 oz Canadian Maple Leaf is an ever popular coin for those buying gold bullion. It has been renowned ever since the Canadian Mint released it in 1976, due to its 24 carat, 99.9% purity.

It is recognisable due to the Canadian maple leaf on the back. In recent years it has added noticeable detail to the face of the coin in the form of radial lines, great for fraud prevention.

This coin also comes with the same divisibility benefits as sovereigns, and is available in half, quarter and tenth sizes.

The Tudor Beasts is a series of coins minted by the Royal Mint, so there is exceptional detail. Earlier coins in the series feature Queen Elizabeth II on their obverse and the reverse of the coins depict one of the 10 Tudor Beasts. Later coins in the series will feature the new King Charles III portrait on its front.

Limited issue coins such as this have the ability to quickly become very sought after due to coin collectors wanting to complete the set. Previous Royal Mint collections such as the Queen’s Beasts coins are already trading at vastly higher prices.

The coins are minted for a limited time only, ensuring a limited supply which can cause premiums for the coin to rise 40%, a rise far higher than other gold coins.
Each 1oz coin carries a £100 face value, with identical Quarter oz versions featuring a face value of £25 per coin. This deems all these coins as CGT-free for UK investors.

Popular limited issue Royal Mint series are;

• Tudor Beasts
• Queen’s Beasts
• Lunar Coins
• Myth’s & Legends

We are specialists in the buying and selling of gold coins, for the best prices. We have over 1000 5-star reviews from clients just like you who continue to use us for all of their gold coin investments.

We are accredited by a number of professional bodies specifically linked to gold coins, ensuring our standards of practice and our expertise.

We are located in the very heart of Hatton Garden, the Gold capital of London. Give us a call today on 020 7060 9992 to have a chat about your portfolio (or starting one), we’ll try to help you as much as we can.