Half Sovereign Charles III Gold Coin | 2024

Half Sovereign 2024, Charles III

The 2024 Half Sovereign: 3.99 g gross at 22 carat, holding 3.6612 g of pure gold, 19.30 mm across.

The obverse is the coinage portrait of King Charles III by Martin Jennings. The reverse returns to Benedetto Pistrucci’s St George and the dragon — the 2022 memorial and 2023 coronation issues had used a Royal Arms design by Jody Clark instead.

Specifications

Why UK coins are treated differently

HMRC exempts sterling currency from capital gains tax, and the exemption reaches Sovereigns minted in 1837 and later and Britannias because they are current UK legal tender denominated in pounds. A Krugerrand, a Vreneli or an American Eagle is a chargeable asset by the same logic.

One point that catches people out: pre-1837 Sovereigns are not covered. They are no longer legal tender, so they are treated as chattels instead, under the chattels rules rather than the currency exemption.

Why a small British coin is worth a second look

On gold content alone a Half Sovereign is an expensive way to buy metal: the premium per gram is well above a one ounce coin. What it offers instead is a very small unit that is sterling legal tender, so it can be sold in small steps without a capital gains calculation for a UK resident. Whether that is worth the premium depends entirely on your situation.

VAT and UK capital gains tax

HMRC treats a coin minted after 1800 as bullion 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 Half Sovereign is 916.67 fine, UK legal tender and sold close to the gold price, so it meets all three tests.

It is also a United Kingdom coin with a face value in pounds, so it is sterling legal tender. The UK exemption from capital gains tax follows sterling legal tender, which is why Britannias and Sovereigns sit outside that tax while a Krugerrand, Maple Leaf or Philharmonic does not. This is a statement of the published rule, not tax advice — your own position depends on your circumstances.

Questions buyers ask

What is on the reverse? Pistrucci’s St George and the dragon, the design first used on the Sovereign in 1817.

How much gold does it contain? 3.6612 g of pure gold at 916.67 fineness.

Is it exempt from capital gains tax? For UK residents, yes. It is sterling legal tender.

Does it come in a capsule? Yes. Every coin is dispatched in a protective capsule.

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