Following the success of the British Gold Britannia, the release of the Silver Britannia in 1997 was met with high praise.
The huge success of the Gold Britannia bullion coins, which were first introduced in 1987, led the Royal Mint to produce the first of the Silver Britannia coins one decade later in 1997 to much acclaim.
Here are the answers to some of the most frequently asked questions about the British Silver Britannia.
What is a British Silver Britannia?
The British Silver Britannia is a sovereign coin that is produced by the Royal Mint each year and is among of the world’s most popular silver coins. Each coin is made of .999 fine silver and is manufactured with exceptionally high quality standards and tightly-controlled production protocols.
What are the dimensions of the British Silver Britannia?
The coins are round with a diameter of 38.61 millimeters (1.52 inches). They have a thickness of 0.12 inches. Each coin weighs one troy ounce or 31.1 grams. A troy ounce is slightly heavier than a regular ounce, which converts to 28.35 grams. The difference may seem insignificant for individual coins, but can be substantial when trading consists of large quantities of coins.
What is the difference between the Silver Britannia and American Silver Eagles?
While the two coins weigh the same and contain the same purity of silver metal, there are a number of differences between the two coins. Namely:
- The silver Britannia coins are minted by the British Royal Mint. The American Silver Eagles are minted by the U.S. Mint.
- The British Silver Britannia has a nominal face value of one pound sterling, while the American Silver Eagle has a nominal face value of one dollar.
- The American Silver Eagle has a slightly larger diameter of 40.6 millimeters or 1.598 inches. However, at 0.117 inches, it is slightly less thick.
- Silver Britannia coins are the only silver coins that are free of Capital Gains Tax. They also attract somewhat higher premiums compared to American Silver Eagles.
- The American Silver Eagle coin is more easily recognizable, and it is considered one of the most attractive of the silver coins.
How many British Silver Britannia coins are minted each year?
A fluctuating number of coins are minted each year. The number of uncirculated coins minted in each year between 1998 and 2016 are listed below:
- 1998 - 88,909
- 1999 - 69,394
- 2000 - 81,301
- 2001 - 44,816
- 2002 - 48,816
- 2003 - 73,271
- 2004 - 100,000
- 2005 - 100,000
- 2006 - 100,000
- 2007 - 100,000
- 2008 - 100,000
- 2009 - 100,000
- 2010 - 126,367
- 2011 - 100,000
- 2012 - 100,000
- 2013 - 300,000 Snake Privy Rim
- 2014 - Minted to order
- 2014 - 1,000,000 Horse Privy Rim
- 2015 - Minted to order
- 2015 - 200,000 Goat Privy Rim
- 2016 - Minted to order
- 2016 - 176,300 Monkey Privy Rim
How much is a British Silver Britannia worth?
The British Silver Britannia coin has a face value of two pounds sterling. However, traders buy and sell coins based on the current value of silver. The price of silver fluctuates regularly. Click here to see the current spot price of silver.
Can British Silver Britannia coins be used as legal tender?
Silver Britannia coins can be used as legal tender, which means they will be accepted for payment of a debt but only at their nominal face value - even though their actual value exceeds this amount due to the quantity of pure silver the coin contains. The coins are typically purchased for collection and/or investment purposes.
Are British Silver Britannia coins taxable?
Tax is not applied to Silver Britannias when you purchase from Provident Metals. Capital Gains Tax may be applied by the Federal Government if they are sold for a profit.
Are Silver Britannia’s a good investment?
British Silver Britannia’s are among the most popular silver coins in the world. The coins attract high premiums and can be easily stored or sold. Silver Britannia coins are an excellent investment for large investors who want a more diversified portfolio and longer-term investors. Continue reading here to learn more about investing in Silver Britannia’s.
Where are British Silver Britannia coins minted?
The coins are minted in the United Kingdom by the Royal Mint at Llantrisant, South Wales.
Where can I buy/sell British Silver Britannia coins in the USA?
The coins may be easily purchased or sold through online dealers, like right here at Provident Metals, or brick-and mortar coin stores. Trading also occurs at coin shows, in pawn shops and at online forums.
Provident Metals is pleased to offer Silver Britannias at the industry’s lowest prices. We also buy Silver Brits back from our customers for a better price than other shops and dealers.
If you are considering a British Silver Britannia for your coin collection or investment portfolio, Provident Metals has a wide selection of Britannias to fit your needs. Head to our Knowledge Center to learn more about investing in these and other silver bullion coins.