Could buying a collectable gold coin make an ideal Christmas gift, or a fitting way to celebrate an important year? Or even still, a sound investment?
Of all the ways to invest in gold, buying commemorative or collectable gold coins is perhaps one of the most rewarding and meaningful.
While rising gold prices typically enhance the value of collectable gold coins, the value of collectable gold coins also depends on factors such as the coin's rarity, historical importance and market demand.
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Buying gold bullion or gold funds, while more conventional investing options, don’t offer the same character or potential for gifting that a decorative, high-quality or rare gold coin offers.
“Commemorative coins serve as a unique memento of significant people, events and anniversaries that customers can treasure,” says a spokesperson for the Royal Mint. “The Royal Mint produces commemorative coins with over 50 different designs each year, from music legends including Sir Paul McCartney and Dame Shirley Bassey, to favourite stories such as Harry Potter and The Lion, The Witch and The Wardrobe.”
Are gold coins a good investment?
Gold coins can be a very good investment – but it depends on the coin.
The Royal Mint issues gold bullion coins, designed primarily for investment purposes. Rising gold prices have led to increased demand for these; the Royal Mint saw gold coin sales increase 110% to record levels during the third quarter of 2024. Gold bullion coins are also exempt from capital gains tax (CGT), adding to their appeal for investors.
“We have seen how these all-time highs in gold markets lead to an increase in first-time precious metals investors entering the market,” says a spokesperson for the Royal Mint. “Over the last few years, The Royal Mint has produced a range of new investment products, ranging from small bars to fractional coins, enabling investors to buy precious metals in new ways that facilitate their approach to investing.”
Collectable coins, however, are not primarily intended for investment purposes. Rather, they are intended to act as a unique keepsake for friends and family, or to mark a significant life event such as an anniversary.
They come in three forms:
- Proof coins: the highest standard of coin that the Mint produces. These are struck three times to produce a sharp, high quality finish, and like most of the Mint’s collectable coins, they are produced in either gold or silver;
- Brilliant uncirculated coins: these are similar to the coins that you carry in your pocket, but feature a specific feature or design, such as The Snowman;
- Bullion coins: while some have obvious commemorative or collectable value, these have a similar quality of finish to the coins in your pocket but, as above, are intended for investment purposes rather than their design quality.
Proof and brilliant uncirculated coins do have an investment value thanks to their gold content, but if you’re buying gold coins as an investment, it’s bullion coins you want. Some commemorative gold coins do end up selling for eye-watering sums, but this is thanks to their quality and rarity as opposed to the price of gold per se.
What are some of the most valuable gold coins of all time?
In the UK, collectable gold sovereign coins tend to fetch the highest valuations. Their prices depend on the coin itself, how long ago they were issued, and how many were ever minted.
The most expensive selling gold sovereign coin was an Edward VIII Sovereign which sold to a collector for £1 million in 2020. The 22-carat coin is especially rare because it was never circulated – Edward VIII abdicated to marry American divorcee Wallis Simpson before its release.
George III Sovereign coins typically fetch a high asking price, according to physicalgold.com, thanks to their scarcity – one has sold for as much as £186,000.
Globally, however, rare American coins fetch the highest prices.
A historic 1822 Half Eagle, a gold coin with a face value of $5, sold for $8.4 million in 2021, while a 1787 Brasher Doubloon fetched $9.36 million in the same year.
The most expensive coin in history, though, was a “Flowing Hair” dollar – the first to be minted by the newly-independent US in 1794 – which sold for $10 million in 2013.
Commemorative coins for 2025
The Royal Mint is just beginning its rollout of the 2025 crop of commemorative coins. The Annual Set – five “coins of the year” that serve as a distinct collection to commemorate the year – will be announced soon.
In the meantime, there are already some collectable coins for 2025 available to buy, including:
- The Bond of the 1980s 2025 1oz Gold Bullion Coin, ideal for Bond fans and priced at £2,218;
- The Piedfort Sovereign 2025 Gold Proof Coin, costing £1,445 and with a maximum mintage of 1,260 coins;
- The Royal Tudor Beasts The Queen’s Panther 2025 UK 2oz Gold Proof Coin; this coin is worth £5,890 now, but with an extremely limited mintage of just 56 coins, it could conceivably become a collector’s item.
Keep an eye on the Royal Mint’s social media pages for further updates to the 2025 range, as well as the Annual Set.
Collectable and commemorative gold coins for 2024
It’s not too late to buy a 2024 coin, especially if it has been a memorable year for you – whether you got married, celebrated a new job, or you’ve retired from work – there are plenty of commemorative coins that could help you immortalise the year.
Some highlights include:
- A range of Star Wars coins including a Millennium Falcon 1oz gold proof coin worth £2,995;
- A Harry Potter collection including a limited edition Black Lake 2024 50p gold proof coin, with a maximum mintage of 60 coins and a price tag of £1,355;
- A 2oz St George and the Dragon gold proof coin worth £5,545.
In December, the Mint launched a commemorative coin celebrating the life and work of Sir Paul McCartney. The most expensive coin in the range, a 1oz Gold Proof coin of which only 260 will be struck, costs £2,995, but the range includes
“This feels like a huge honour,” said McCartney. “It’s not anything I would have ever expected to happen when I was a kid.”
Fans of the Beatles will of course have a huge interest in this commemorative coin. On that note, any music fans that are also into collectables might want to check their vinyl collection for any of these rare and valuable records. In December, the Mint launched a commemorative coin celebrating the life and work of Sir Paul McCartney. The most expensive coin in the range, a 1oz Gold Proof coin of which only 260 will be struck, costs £2,995, but the range includes
“This feels like a huge honour,” said McCartney. “It’s not anything I would have ever expected to happen when I was a kid.”
Fans of the Beatles will of course have a huge interest in this commemorative coin. On that note, any music fans that are also into collectables might want to check their vinyl collection for any of these rare and valuable records.
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