US$4.4bn: what UK-listed gold ETFs took in during August 2026, their second-largest month on record. September added US$2.2bn, making July to September the UK's strongest quarter on record.
HMRC treats Sovereigns minted from 1837 and Britannia gold coins as sterling currency, so UK individuals pay no capital gains tax when they sell them. The real cost lies in the premium over the gold content and the gap between a dealer's selling and buy-back prices.
UK investors can own gold as coins or bars, as vaulted metal, through exchange-traded commodities or through mining shares and funds. The routes differ on cost, VAT, capital gains tax, ISA and SIPP eligibility and who you depend on if something fails.