The invention concerns a colloidal dispersion of a vanadate or a phosphovanadate of at least a rare earth comprising either a complex-forming agent having a pK higher than 2.5, or an anion of a monovalent acid, soluble in water and having a pKa ranging between 2.5 and 5. The dispersion is obtained by contacting a colloidal dispersion or a dispersion of initial complexes comprising at least a rare earth compound and at least a complex-forming agent or an anion of said monovalent acid and whereof the pH has been adjusted to a value of at least 7, with vanadate ions, then, in adjusting the pH of the resulting medium to a value of at least 9 and heating.