Britannia Silver (958)
Also: 958 silver, Britannia Standard, 958 fine silver
Britannia silver refers to a silver alloy with a fineness of 958 ‰ (95.8%), introduced in England in 1697 as a higher standard alongside sterling silver (925 ‰).
Britannia silver is a silver alloy with a legally defined minimum fineness of 958 ‰ (95.8% pure silver). The remaining share of up to 42 ‰ usually consists of copper, which improves mechanical strength. With this content, Britannia silver lies well above the widely used sterling silver (925 ‰) and is considered one of the purest silver standards for coins and precious-metal objects.
Historical background
The standard was introduced in 1697 by the British state to curb the abuse then rampant: silver coins were being clipped on a large scale and their metal used to make silverware. By raising the alloy standard for silverware to 958 ‰ — higher than the coinage standard of 925 ‰ — the aim was to make melting down coins economically unattractive. The standard is named after the allegorical figure Britannia, who personifies the United Kingdom.
From 1697 to 1720, Britannia silver was the mandatory British standard for silverware; since then sterling silver has again been the main British standard for silverware, but Britannia silver has remained as an approved, higher-grade alternative.
Britannia silver today: coins and bars
Since 1997, The Royal Mint has annually struck the well-known Britannia silver coin — however, this has a fineness of 999 ‰, not 958 ‰. The Britannia silver standard (958 ‰) applies to silverware and cutlery, not to modern bullion coins. The 1 oz variant of the silver coin is the best-known denomination; it also exists in 1/2 oz, 1/4 oz and 1/10 oz.
| Fineness | Standard | Typical use |
|---|---|---|
| 999 ‰ | Fine silver | Bars, Britannia coin (The Royal Mint) |
| 958 ‰ | Britannia silver | Silverware, cutlery (UK hallmark) |
| 925 ‰ | Sterling silver | Jewellery, cutlery, coins |
| 835 ‰ | 835 silver | Older German cutlery |
| 800 ‰ | 800 silver | Older Central European silver |
You can determine the current silver price and the resulting material value of your Britannia pieces with the melt value calculator or the silver calculator.
Calculating the fine weight
The fineness of 958 ‰ feeds directly into the melt value calculation:
Fine weight (g) = gross weight (g) × 0.958
Material value = fine weight (g) × silver price (£/g)
A 100 g piece of Britannia-quality silver cutlery therefore contains 95.8 g of fine silver. (Note: the modern 1 oz Britannia coin from The Royal Mint has 999 ‰ fineness, not 958 ‰.)
Tax notes (United Kingdom)
In the UK, the purchase of silver coins and bars — unlike investment gold, which is VAT-exempt — is generally subject to the standard rate of 20% VAT. Dealers may, under certain conditions, apply the margin scheme, which can lower the effective tax rate for the buyer. Gains from the private sale of silver may be subject to Capital Gains Tax above the annual exempt amount, calculated as disposal proceeds minus acquisition cost; there is no German-style one-year speculation period. This is not tax or investment advice.
In brief
Britannia silver (958 ‰) is a British silver standard recognised since 1697 with a higher fineness than sterling silver (925 ‰). It mainly marks British-made silverware and cutlery. Note: the modern Britannia silver coin from The Royal Mint (since 1997) has a fineness of 999 ‰ — while it bears the Britannia name, it does not correspond to the 958 alloy standard.