A bullion coin is a coin struck from precious metal and kept as a store of value or an investment, rather than used in day-to-day commerce. Investment coins are generally coins that have been minted after 1800, have a purity of not less than 900 thousandths and are or have been a legal tender in their country of origin.[1] Bullion coins are usually available in gold and silver, with the exception of the Krugerrand and the Swiss Vreneli which are only available in gold. The American Eagle series is available in gold, silver and platinum, and the Canadian Maple Leaf series is available in gold, silver, platinum and also palladium.
Bullion coins are also typically available in various weights. These are usually multiples or fractions of 1 troy ounce, but some bullion coins are produced in very limited quantities in kilograms and even heavier.
Bullion coins sell for a premium over the market price of the metal on the commodities exchanges. This is due to their comparative small size and the costs associated with manufacture, storage and distribution. The margin that is paid varies depending on what type of coin it is, the weight of the coin, and the precious metal. The premium also is affected by prevailing demand.
The ISO currency code of gold bullion is XAU. ISO 4217 includes codes not only for currencies, but also for precious metals (gold, silver, palladium and platinum; by definition expressed per one troy ounce, as compared to "1 USD") and certain other entities used in international finance, e.g. Special Drawing Rights.
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The European Commission publishes annually a list of gold coins which must be treated as investment gold coins (eg. exempt from VAT) in all EU Member States. The list has legal force and supplements the law. In the United Kingdom, HM Revenue and Customs (HMRC) have added an additional list of gold coins alongside the European Commission list. These are gold coins that HMRC recognise as falling within the [VAT] exemption for investment gold coins. This second list does not have legal force.[1] The following list presents only the most common coins included in the European Commission list.
| Country | Name of bullion coin | Fineness | Denominations (Gold weight) |
Years of mintage |
|---|---|---|---|---|
| Australia | Gold Nugget | .9999 | 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt, 2 ozt, 10 ozt, 1 kg |
1986–present 1991–present |
| Australia | Lunar Series I | .9999 | 1 ozt | 1996–2007 |
| Australia | Lunar Series II | .9999 | 1 ozt | 2008–2019 |
| Austria | Philharmoniker | .9999 | 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1989–present |
| Canada | Maple Leaf | .9999 (.99999 available) | 1/20 ozt, 1/15 ozt, 1/10 ozt, 1/5 ozt, 1/4 ozt, 1/2 ozt, 1 ozt, 100 Kilo |
1979–present |
| China | Gold Panda | .999 | 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1982–present |
| France | 20 Francs Napoleon | .900 | 0.1867 ozt. | 1806–1914 |
| Israel | Tower of David | .9999 | 1 ozt | 2010 |
| Kazakhstan | Golden Irbis | .9999 | 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 2009–present |
| Kelantan | Kelantanese dinar[2] | |||
| Malaysia | Kijang Emas | .9999 | 1/4 ozt, 1/2 ozt, 1 ozt | 2001-present |
| Mexico | Libertad | .999 | 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1991–present |
| Mexico | Libertad | .900 | 1/4 ozt, 1/2 ozt, 1 ozt | 1981-1990 |
| Mexico | Centenario (50 Pesos) | .900 | 1.20565 ozt | 1921 - 1931 Periodically 1943 - 1972 |
| Poland | Orzeł bielik | .9999 | 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1995–present But 2001, 2003 and 2005 |
| Russia | George the Victorious | .999 | 0.2537 ozt | 2006–present |
| South Africa | Krugerrand | .9167 | 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1967–present |
| Switzerland | Vreneli | .900 | 0.0933 ozt, 0.1866 ozt | 1897 - 1936 1947 and 1949 |
| United Kingdom | Sovereign | .9167 | 7.3224 g = 0.2354 ozt | 1887 - 1932 1949 - 1952 (dated 1925) 1957 - 1959 1962 - 1968 1974, 1976, 1978 - 1982 2000–present |
| United Kingdom | Britannia | .9167 | 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1987–present |
| United States | Gold Eagle | .9167 | 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1986–present |
| United States | American Buffalo | .9999 | 1 ozt | 2006–present |
| United States | Double Eagle | .900 | 0.9675 ozt | 1849–1933 |
| Country | Name of bullion coin | Fineness | Denominations (Palladium weight) |
Years of mintage |
|---|---|---|---|---|
| Canada | Palladium Maple Leaf | .9995 | 1 ozt | 2005–2007, 2009 |
| Country | Name of bullion coin | Fineness | Denominations (Platinum weight) |
Years of mintage |
|---|---|---|---|---|
| Australia | Platinum Koala | .9995 | 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1988–2008 |
| Australia | Platinum Platypus | .9995 | 1 ozt | 2011-present |
| Canada | Platinum Maple Leaf | .9995 | 1/20 ozt, 1/15 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1988–1999, 2002, 2009 |
| Isle of Man | Noble | .9995 | 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1983–1989 |
| Mexico | Libertad | .999 | 1/4 ozt | 1989 |
| United States | Platinum Eagle | .9995 | 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1997–present |
| Country | Name of bullion coin | Fineness | Denominations (Silver weight) |
Years of mintage |
|---|---|---|---|---|
| Australia | Silver Kookaburra | .999 | 1 ozt, 2 ozt, 10 ozt, 1 kg | 1990–present |
| Australia | Lunar | .999 | 1 ozt, 2 ozt, 10 ozt, 1 kg | 1999–present |
| Austria | Philharmoniker | .999 | 1 ozt | 2008–present |
| Canada | Maple Leaf | .9999 | 1/2 ozt, 1 ozt | 1988–present |
| China | Silver Panda | Varies | Varies | 1983–present (with exceptions) |
| Kazakhstan | Silver Irbis | .9999 | 1 ozt, 2 ozt, 5 ozt, 10 ozt | 2009–present |
| Mexico | Libertad | .999 | 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt, 2 ozt, 5 ozt, 1 kg | 1982–present |
| Russia | Saint George the Victorious | .999 | 1.01 ozt | 2009–present |
| United Kingdom | Britannia | .958 | 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt | 1997–present |
| United States | America the Beautiful | .999 | 5 ozt | 2010–present |
| United States | Silver Eagle | .999 | 1 ozt | 1986–present |