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Lots of wealthy buy these by the tube. Being legal tender they are free of VAT and CGT on sale, which isn't true of investment grade gold biscuits.

False, you pay CGT on investment gold in almost all countries.

But not on UK gold, silver, and platinum coins in the UK. https://www.royalmint.com/gold-price/capital-gains-tax-on-in... ; mine have, to my surprise, done better than my stock portfolio and almost as well as my house as investments.

(just don't buy new ones, you have to pay 20% VAT on those which is silly)