UK investors buy gold coins in record numbers

UK investors have been buying gold coins in record numbers this year to mitigate against rises in capital gains tax and to cash in on the surging price of the precious metal.

Online bullion transactions hit record levels in the first quarter of the 2025-26 financial year, the Royal Mint said last week. Bullion coin sales were up 115 per cent compared with the same period last year.

The World Gold Council painted a similar picture on Thursday, reporting that UK bar and coin demand was up 17 per cent year-on-year.

Solomon Global, a UK company which sells physical gold bars and coins, also said this week that inquiries about its products had risen by 72 per cent in the first half of the year, compared with the second half of 2024.

In a survey of 14,000 of its customers, tax was listed as the top motivator for buying gold coins — with 42 per cent saying it was for tax reasons. The second top motivator, given by 26 per cent of respondents was “wealth protection”.

Bullion coins, including all gold, silver and platinum coins, from The Royal Mint are exempt from capital gains tax for UK residents due to their status as legal tender.

However, CGT applies to all gold, silver and platinum coins that are not produced by The Royal Mint. Gold and silver bullion bars are also subject to CGT as they are not considered legal tender.
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nickndfl said:

They can buy sovereigns with no tax. They can buy.silver, but get taxed to where it's not cost effective 10%+.

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