Gold & Tax

Gold and Inheritance

Gold is one of the oldest ways to pass wealth between generations. Here is how it is treated when the time comes, and why so many families hold it for exactly this reason.

Last reviewed September 2026

How Inheritance Tax treats gold

There is no special Inheritance Tax exemption for gold. Coins you own at death are valued at market price and counted in your estate alongside property, savings and investments. IHT is generally charged at 40 percent on the value above the available nil-rate bands, so gold should be part of your estate planning conversation, not an afterthought.

Gifting gold during your lifetime

Many owners pass coins to children and grandchildren while they are alive. Gifts to individuals are generally treated as potentially exempt transfers: survive seven years from the gift and it falls outside your estate. Because Britannias and Sovereigns are CGT free, a lifetime gift of appreciated UK coins does not trigger a Capital Gains Tax bill either, which is a real advantage over gifting shares or property.

Why gold suits generational wealth

Coins divide naturally between beneficiaries, one for each grandchild if you wish. They do not depend on any company surviving or any account being accessible, and a Sovereign given today is the same recognisable object in fifty years. Keep a simple record of what you hold and where, and tell your executor.

Read more: Gold and trusts · How to store gold

This page is general information, not tax, legal or financial advice. Inheritance planning depends heavily on individual circumstances and the rules can change. Please speak to a qualified adviser or solicitor about your own position. The value of gold can go down as well as up.