40 French Francs Louis Philippe I | 1831-1839

40 Francs, Louis Philippe I

12.90322 g gross, 900 fine, 11.613 g of pure gold, 26 mm across — the same standard as the Charles X piece that preceded it.

Struck from 1831 to 1839 at Paris (A), Rouen (B) and Bayonne (L), to a total of about 775,000 pieces. That makes it the more common of the two large Restoration-era 40 Francs, though still far scarcer than any 20 Franc.

Specifications

Obverse and reverse

The obverse shows the laureate head of Louis Philippe I facing left, with LOUIS-PHILIPPE I ROI DES FRANCAIS.

The reverse is inscriptional: 40 FRANCS and the date in three lines within a wreath of olive and laurel. The edge reads DIEU PROTEGE LA FRANCE.

Dates that are not bullion

The common dates are 1833 A and 1834 A, with a few hundred thousand pieces each. At the other end, the 1839 A is one of the great French rarities at around twenty known pieces, and the 1835 L runs to under nine hundred. We check the date and mintmark before pricing any example.

Exactly 900, and why that matters

HMRC’s test for investment gold is a fineness of not less than 900 thousandths. This coin is exactly 900. It clears the threshold, but with nothing to spare — a coin a shade below that line would attract VAT as a collectable rather than being treated as investment gold.

VAT and UK capital gains tax

HMRC treats a coin minted after 1800 as investment gold if it is at least 900 thousandths fine, is or has been legal tender in its country of origin, and normally sells at no more than 180 per cent of the open market value of its gold (VAT Notice 701/21A). The 40 Francs is 900 fine, was French legal tender and is sold on the gold price, so it meets all three tests.

Capital gains tax is a separate matter. The UK exemption follows sterling legal tender, so it covers Sovereigns and Britannias but not a French coin. This is a statement of the published rule, not tax advice — your own position depends on your circumstances.

Questions buyers ask

How does it compare with the Charles X 40 Francs? Identical in gold content and size. Different portrait, different reverse, different edge, and rather more of them.

How much gold does it contain? 11.613 g of pure gold at 900 fineness.

Which date will I receive? A mixed date from the 1831 to 1839 range, as available.

Is it exempt from UK capital gains tax? No. That exemption follows sterling legal tender.

Authenticity checked at GoldInvest24 before dispatch. Other sizes are on the historic gold coins page. Live quotes on the precious metals prices page.