Bullion coin

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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.^[1] The United Kingdom defines investment coins more specifically as 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^[2] (those not meeting the last requirement are not "coins" according to United States law^[3] and must be advertised as "rounds" instead). Bullion coins are usually available in gold and silver, with the exceptions of the Krugerrand and the Swiss Vreneli which are only available in gold. The American Eagle series is available in gold, silver and platinum,^[4] and the Canadian Maple Leaf series is available in gold, silver, platinum^[5] and palladium.^[6]

Krugerrand gold bullion coin, minted in 2012

Britannia silver bullion coin, minted in 2014

Bullion coins are 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 or 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.

Lists of bullion coins

Gold

The European Commission publishes annually a list of gold coins which must be treated as investment gold coins (e.g. by being 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.^[7] The following list presents only the most common coins included in the European Commission list.

Palladium

Platinum

Silver

See also

• Gold coin
• Silver coin
• Palladium coin
• Platinum coin
• Bullion

References