With the announcement from the Royal Mint during the latter part of 2012 of an increased fineness of precious metals in both gold and silver bullion related coinage, the Mint has reported an increased level of Britannia production over prior year numbers. The gold coins have especially seen a higher than anticipated increase from this time last year.
The Royal Mint reported a 60% increase in sales for Gold Britannia coins between Nov/Dec 2011 vs. Nov/Dec 2012 and an impressive 275% increase in sales for the Silver Britannia for the same period. The encouraging 2013 production figures thus far has been credited with the increase in metal fineness of the Britannias as well as a heightened interest from investors looking at both high grade numismatic items and bullion related coins.
The Royal Mint announced last November that for all 2013-dated bullion coins, the gold content or fineness for the one ounce gold Britannia’s to the 1/10th ounce coins would be increased from 91.67% to 99.99% fineness and the silver Britannia’s would be increased from the traditional 95.8 % to 99.% fineness– with all diameters remaining the same. The introduction of the 2013 UK Bullion Range was produced as The Royal Mint looks to expand into the investment market. The change was motivated by an increasing demand for bullion sales of Britannia Bullion which had doubled in the first quarter of the 2012 financial year alone. Their business growth plan aims to position the 1,100 year old Mint and its bullion products as a world leader in the investment marketplace.
| Description | 2013 Gold Britannia | 2013 Silver Britannia |
| Alloy | 0.9999 Au fine gold | 0.999 Ag fine silver |
| (Troy oz) | 1 | 1 |
| Gross Weight | 31.1035g | 31.1035g |
| Diameter | 38.61mm | 38.61mm |
| Fineness | 0.9999 | 0.999 |
| Reverse Design | Philip Nathan | Philip Nathan |
| Obverse Design | Ian Rank-Broadley FRBS | Ian Rank-Broadley FRBS |
This year’s design for both gold and silver issues retains the original portrait or depiction of a standing Britannia figure as designed by Philip Nathan and first used on these coins from their introduction in 1987. The obverse includes an effigy of HM Queen Elizabeth II sculpted by Ian Rank-Broadley FRBS and in use on all British circulation and selected commemorative coinage since 1998. The face values of the bullion coins is seen on the obverse ranging from £100 (one ounce gold) to £2 (one ounce silver).
The Britannia coins have since their introduction included various reverse designs or interpretations of Britannia and offering different styles and finish including reverse proof detail. The silver edition was introduced in 1997 with the issue of proof examples depicting the portrait of the Queen designed by Raphael Maklouf and was the only issue to include this portrait. The Royal Mint are also offering a personal service to investors of larger quantities of gold bullion coinage including the storage of personal bullion reserves.
For more information on these and other coins offered by the Royal Mint, please visit their dedicated bullion pages which offers a description of the new coins and services at: http://www.royalmint.com/bullion/personal/products
UK coins are just beautiful, and, expensive.
You said it, Samuel. I love UK coins and think they’re some of the best in the world, but I find in a lot of cases they’re even more expensive than Perth Mint coins. Most of the time I just can’t afford them. It’s a shame.
Higher Fineness – Lower Quality – More Complaints
It is likely that the higher sales are driven by greater awareness amongst investors that profits on disposals of sterling are exempt from Capital Gains Tax, rather than the higher precious metal content.
We only just received our first batch of the gold Britannias, and we are very disappointed about the noticeably low relief, and poor surface quality.
This follows on from a record number of complaints we have received about the silver Britannias, which suffer from the same problems, and also numerous surface scuffs, clearly due to rough physical handling between minting and packaging.
The Royal Mint charge more for their Britannia bullion coins than do most other world bullion mints, but produce the lowest quality ones.
It has long been our belief that the Royal Mint is run by marketing people who seem to have swallowed their own propaganda, but who are so arrogant that they persistently fail to listen to criticism from their own customers or other industry experts.
We would have been interested in seeing some harder facts in your article, including actual release figures from this and previous years.
We would also like to point out that you have incorrectly inserted apostrophes in “Btitannia’s”, which should read “Britannias”. It is a plural, not a possessive!
The silver coin can be purchased for a reasonable price from bullion dealers in the US, esp. if you shop around. I paid just a dollar or two more than the price of a silver eagle, and the coins will arrive next week so I can not comment on the quality. But all my coins from the previous years right back to the first coin are very good quality. I have never seen or owned one of the gold coins. My only gripe is I would prefer to see a new design every year, but it is still possible that it will change in the future.
The diameters did not remaining the same. I purchased ring Air-Tites and they are different for the 2013 Btitannia, they are smaller which is logical as they are more pure.
The current coin is listed as 38.6mm but the older one are listed as 40mm
@Fosnock…you are correct…I have some 2012′s and they are 40mm.
@Louis…I agree. However, they did use a different design every year from 2007-2011. The 2012/2013 design was previously used in 2006, 2004, 2002, 2000, & 1998.
Steve- Thanks, but what I am getting at is what happens in the future. If they keep using the same one every year, that will be unfortunate. But I don’t believe a decision has been made.
I can agree about the silver Britannias. The 11 I got so far all have scratches and dings – I haven’t had such poor quality with the 2012 ones.
Also, the premium is one of the highest compared to other mints (apart the Pandas).
Finally, since they are now produced to demand the numismatic value will be more closely aligned with spot. In previous years, the low mintages have made almost all Britannias collector’s rather than investor’s items. These days are gone now I guess…
More bullion coins like Gold and Silver Britannia becomming pure gold and silver coins. So they are scientificial pure gold and silver?
Lawrence,
Finally someone who also realizes the train wreck that is 2013 Britannias!
NONE of these “coin blogs” are picking upon this story.
1: None of these blogs mentioned the size change.
2: None of these blogs are picking up on the huge quality drop off that has occurred.
ALL of my 20 coins from 3 dealers have problems..STILL SEALED.
12th january 2013
Hello Readers,
Thank you for all of your comments regarding the Britannias – Apologies for the error in my mentioning that the diameters for the silver versions were the same as the previous years, that was indeed a miskake on my part. They are slightly decreased in size from the previous 40 mm. to 38.61 mm. which is also the same as the traditional British crown coin.
I will forward on your comments as to quality of the new examples to the production department who will I’m sure look into this. I will also invite a RM representative to either comment on this concern directly here or, I will gladly pass on any of their comments.
Many thanks!
P.S. no more apostrophies in the word “Britannias” either..!
I recently took delivery of 20 of these and decided to upload a video highlighting the disappointing quality of the coins:
http://www.youtube.com/watch?v=KrTIQ78Xj-g
Unfortunately I made the purchase after I realised there had been so many complaints, otherwise I would have opted for something else.
14th January 2013
Hello all,
As promised, I’ve contacted the RM with regard to the comments made here. As someone who has made several visits to the RM’s state-of-the-art facility in Llantrisant, I can say without reservation that quality is always of great importance to production so, I’m sure they will take these comments under advisement and I’ll let you know what transpires as soon as I hear something. Please do let me know your further thoughts.
Many thanks.
I have maintained two complete sets of ungraded, UNC Silver Britannias since 1998. Many of those coins still are in their original RM plasti-packs. Similar to Louis, I purchased my two, 2013 coins from a US Bullion vendor for spot plus $5.00 per coin, so I am not disappointed in the cost of these coins verses the previous “Britannia Silver” issues. However, I took delivery of my coins on Monday and, concurring with the majority here, the EYE APPEAL aspect of product qualilty is marginal, at best. Lots of surface rub marks on the OBV and REV of both coins. Similarly, I don’t know if it is the surface finish of the new 0.999 coin as compared to the previous 0.925 coins, but the surface strikes seem “soft,” if that makes sense. Someone might be able to describe it better than I can. Granted, the RM has intended these to be “investor” bullion coins, but there’s still an expectation that Her Majesty will look her best when she arrives at my door.
Things to consider:
- Now that the Britannias are 0.999 coins, they are slightly softer than the previous alloy (0.925) coins, thus more susceptible to surface damage.
- I need to confirm the measurements, but I also believe the RM did not change the dimensions of the product blister packs while migrating from the alloy to the pure silver. If so, these 2013 coins would have slightly more room to move against the hard plastic surfaces.
- Most of the world mints are minimizing the potential for damage by packaging their pure silver bullion coins directly into either form fitting capsules or pliable plastic pouches vice the blister packs used by the RM.
- HUGE PLUS – the 0.999 coins are less susceptible to toning in the long term. Having learned the hard (and costly way), the copper alloy in those 0.925 coins will tone at the drop of a hat!!
I agree with you! In fact 99.99% pure silver or gold would not tanish in long run. Because both element metal silver and gold are more inert than copper.
Indeed, the 2013′s suck bad. I bought one to see what everyone is talking about. Sure enough, scratches everywhere. This is a pure bullion coin, with zero semi nuemismatic value. Unless they change something, which I doubt they will, they will ‘rape’ you of your dollars, for an inferior product. Sorry, not happy. This coming from someone who has a hundred or so of all their other issues (not each, combined). I’m done with the Britannias. I imagine that the older coins will increase in value, as they look great. Glad I bought a boatload over the years. Apmex is sold out of most years, when typically they have a lot of these in stock. Surprise, surprise. Wonder if others are putting two and two together.