Market Calendar
The Retail Premium Index

Gold Britannia Premiums Relative to Spot, Month by Month

In August 2026 the British Gold Britannia 1 oz carried 2.3% over spot, or $101.54 an ounce over the metal value, against 2.3% for the gold composite in the same month and the reading sits in the 16th percentile of the product's own history.

Retail Premium Index, August 20262.3%$101.54 per ounce over spot16th percentile of its own history
August 20265 of 10 gold benchmarks this month
1-year average2.4%
All-history average3.3%88 months
Retail Premium Index gold composite, August 20262.3%

The year's range so far2.2% in May 2026 to 2.6% in April 2026

captured 31 Aug 2026 · How these numbers are made

Month by month

Compare against:
0.0%2.0%4.0%6.0%8.0%10.0%12.0%July 2014May 2016November 2017May 2019November 2020May 2022November 2023May 2025
See the figures
British Gold Britannia 1 oz and Gold composite, by month
CategoryBritish Gold Britannia 1 ozGold composite
July 20143.1%
August 20143.8%
September 20143.1%
October 20143.4%
November 20143.3%
February 20154.0%
March 20153.8%
April 20153.4%
June 20154.2%
July 20154.1%
August 20154.1%
September 20154.7%
November 20154.4%
December 20154.5%
January 20164.1%
February 20163.6%
March 20164.2%
April 20163.6%
May 20163.6%
June 20164.0%
July 20163.4%
August 20163.5%
September 20162.7%
October 20163.2%
November 20163.6%3.9%
December 20163.7%3.8%
January 20173.0%4.0%
February 20174.0%4.0%
March 20175.3%4.2%
April 20173.6%3.7%
May 20172.8%3.1%
June 20175.0%3.3%
July 20173.8%3.5%
August 20173.8%2.8%
September 20173.4%3.0%
October 20173.9%3.5%
November 20173.6%3.6%
December 20172.9%3.5%
January 20182.8%2.8%
February 20184.2%2.5%
March 20183.8%2.5%
April 20182.8%2.4%
May 20183.1%2.6%
June 20183.2%2.7%
July 20183.1%3.1%
August 20183.4%3.2%
September 20182.9%3.1%
October 20183.4%2.9%
November 20183.0%3.0%
December 20183.8%2.7%
January 20193.3%2.9%
February 20193.3%2.2%
March 20193.4%2.4%
April 20193.2%2.3%
May 20193.8%2.4%
June 20193.9%1.9%
July 20193.8%1.6%
August 20193.4%1.6%
September 20193.6%1.5%
October 20192.4%2.3%
November 20192.4%2.0%
December 20192.6%2.0%
January 20201.9%1.8%
February 20202.3%2.0%
March 20202.3%3.6%
April 20206.2%9.8%
May 20206.3%6.8%
June 20205.8%5.4%
July 20203.9%3.9%
August 20205.1%4.4%
September 20204.0%3.8%
October 20203.3%3.7%
November 20203.5%3.9%
December 20203.4%4.0%
January 20214.0%4.0%
February 20214.8%5.4%
March 20215.1%5.5%
April 20214.6%5.4%
May 20214.5%5.4%
June 20214.2%5.0%
July 20214.1%4.5%
August 20213.8%4.1%
September 20213.5%3.9%
October 20214.2%4.2%
November 20213.8%4.3%
December 20213.5%4.4%
January 20223.7%4.1%
February 20223.8%3.8%
March 20223.6%3.8%
April 20223.5%4.1%
May 20224.1%4.2%
June 20223.6%4.4%
July 20223.8%4.3%
August 20223.7%4.3%
September 20224.4%4.6%
October 20225.3%5.3%
November 20224.2%5.0%
December 20223.4%4.3%
January 20233.5%4.1%
February 20233.9%4.1%
March 20233.7%3.8%
April 20234.8%4.8%
May 20236.0%4.4%
June 20235.1%4.4%
July 20234.5%4.1%
August 20234.4%3.7%
September 20233.2%3.8%
October 20233.0%3.5%
November 20232.8%2.8%
December 20232.8%3.2%
January 20243.2%3.3%
February 20242.4%2.9%
March 20243.0%2.7%
April 20242.7%2.5%
May 20242.2%2.2%
June 20242.2%2.4%
July 20242.7%2.5%
August 20242.7%2.2%
September 20242.7%2.4%
October 20242.5%2.3%
November 20242.8%2.6%
December 20242.4%2.4%
January 20252.3%2.1%
February 20252.4%1.9%
March 20252.2%2.3%
April 20252.1%2.1%
May 20252.3%2.3%
June 20251.7%1.8%
July 20252.0%2.0%
August 20252.3%2.0%
September 20252.0%1.9%
October 20252.3%2.3%
November 20252.8%2.6%
December 20252.5%1.9%
January 20262.4%1.8%
February 20262.6%2.6%
March 20262.6%2.1%
April 20262.6%2.6%
May 20262.2%1.7%
June 20262.5%2.1%
July 20262.5%2.5%
August 20262.3%2.3%
Monthly premium over spot, November 2016 to August 2026, against the gold composite. Months with very few sales are drawn like the others here and left out of the averages and the high.

Based on SD Bullion transaction data. Figures before March 2019 are historical estimates.

Some months of this series were revised at the latest publish. See Revisions

Look up a month

The month's premium
2.3% · $101.54/oz
2026 range
2.2%-2.6%

What moves this premium

The Royal Mint's one-ounce gold bullion coin, .9999 fine since 2013 (22-karat before that), one-hundred-pound face value, with layered security features added in 2021. Britannias trade in the sovereign gold pack with Maples and Philharmonics; premiums are typically below the Eagle's and tend to move with European as well as US demand. Its series has generally shown the same non-US sovereign pattern as the silver Britannia, in the smaller percentage moves that gold premiums have historically made.

What miners pay to produce an ounce is the other half of the picture: see what the tracked producers spend against the metal price.Miner margins

About the British Gold Britannia 1 oz

Issuer
The Royal Mint
Product type
Government-issued bullion coin
Gold content
1 troy oz
Fineness
.9999 (.9167 on issues before 2013)
Legal tender
Yes
Face value
One hundred pounds
Country
United Kingdom

Premium benchmark: standard 1 oz bullion Gold Britannia of any year; fractional sizes, proofs, graded coins and special releases are left out where they can be identified.

The Retail Premium Index

Questions buyers ask

Is a Gold Britannia 24 karat?

The bullion Britannia struck today is .9999 fine, one troy ounce of gold. Issues from the coin's first years were 22 karat, so an older Britannia holds the same troy ounce of gold in a heavier, harder coin. This page measures per ounce of gold, so the two generations sit on the same premium series.

Is a Gold Britannia legal tender in the UK?

Yes. The Royal Mint strikes it as United Kingdom legal tender with a face value of one hundred pounds, a legal marker rather than a measure of the gold in the coin. Legal-tender standing is part of what a sovereign coin premium has usually carried, and the face value itself does not enter any figure here.

Are Gold Britannia premiums different for older years?

The benchmark covers standard bullion Britannias of any year, so one premium figure stands for the whole run. Proofs and special issues sit outside the series.

How to read this page

The Retail Premium Index publishes the average premium paid on retail orders at SD Bullion, month by month, for each benchmark bullion product. A premium is what a buyer pays above the metal value of the piece, as a share of that value; a dollar figure is shown only where the record carries it. It includes the mint's and the distributor's charges as well as the dealer's, so it is not a measure of dealer margin.

A premium can also be negative: when the metal price moves very fast, some products have sold for less than the metal in them, and the series shows that as it happened.

The Retail Premium Index is a free public resource published for educational purposes only. It is compiled from real transaction records and from market data we license, using the methods described on the methodology page, and we correct it when we find errors. It is not a price quote, an offer to buy or sell, or investment advice, and it may not match figures compiled by other dealers or from other sources, whose products, pricing and methods differ from ours. The methods, the products covered and the period covered may change over time; nothing about the continuation, consistency or method of the index is guaranteed, and any figure may be revised or withdrawn. Past premiums do not indicate future premiums. The figures come from one retailer's own records of completed orders, and for the months before March 2019 from estimates of what the metal was worth at the time of each sale.