Gold Sovereign

Gold Sovereign History

Created in 1489 at the request of King Henry VII, the modern version of the gold Sovereign as we know it today appeared in 1817. The legendary image of Saint George slaying the dragon is depicted on the reverse. Still sought after around the world, today's sovereign contains 7.322 grams of gold. The name comes from the fact that the reigning sovereign had to appear on the obverse of the coin. It is also suggested that King Henry VII, wanting to demonstrate England's sovereignty in the world at that time, named the coin thus to prove the power and splendour of his kingdom, particularly in relation to Spain and Portugal.

In 1817, Sovereigns became legal tender in the country once again. This was part of a major monetary reform led by William Wellesley Pole, director of the Royal Mint. A young Italian engraver named Benedetto Pistrucci (1783-1855) was commissioned to create the reverse design for the new Sovereign, the famous Saint George slaying the dragon. Although it underwent a few changes over the years, the design remains largely the same today. It reflects a desire to showcase the greatness of Saint George.

Other designs were used on the reverse, particularly during the reigns of William IV, Victoria, George IV and Elizabeth II. The royal coat of arms underwent changes in format between the first Sovereign in 1489 and today. However, the principle of depicting the reigning monarch on the obverse of the coin has always been and continues to be respected. Gold Sovereigns were withdrawn from circulation at the start of the Great War in 1914, although production continued at the Royal Mint until 1917. In fact, it was in 1914 that England abandoned gold as its monetary unit. Nevertheless, it continued to produce coins bearing the image of the empire, but in limited quantities. Sovereigns that were not produced by the Royal Mint in London bear a mark indicating where they were minted (examples include Melbourne, Sydney, Perth, Bombay, Ottawa and Pretoria). Production outside Great Britain ceased definitively in 1932.

In 1957, the Royal Mint decided to resume minting Sovereigns, partly to meet global demand and partly to stop counterfeiting from Italy and Syria, which had been rife since production ceased in 1917. However, these new coins were not put back into circulation. Production then slowed considerably and consisted only of trial models intended for collectors and numismatists. Gold Sovereigns for investment purposes were produced again in 2000. Sovereigns are now minted every year.

Gold Sovereign Price

An important factor affecting the price of a gold Sovereign coin is the value of the gold it contains. The weight of a Sovereign coin is 7.98g with a fineness of 916.7. This means that a Sovereign coin has a pure gold content of 7.32g. The price of a gold Sovereign coin is directly linked to the global price of gold.

Gold Sovereign prices can vary thanks to the coin's history and numismatic appeal, with certain years or designs being particularly desirable with collectors. The price of a new Sovereign coin will be based on today's gold price, with a small premium to cover the cost of manufacture and supply. Older or rare gold Sovereign coins can cost considerably more than the gold price.

Our website is constantly updated to display the price of gold Sovereign coins in real time. These gold Sovereign coins have a diameter of 22.05mm and are a great investment or collector's item.

Gold Sovereign Value

Investors often ask what is the value of a gold Sovereign? Gold Sovereign coins have a face value of 1 Pound. It is important to note that the face value has no bearing on the actual value of the coin. As mentioned, the gold Sovereign coins main value can usually be worked out based on the current gold price. It is this simplicity that makes gold bullion coins appealing. They are bought and sold based on their intrinsic metal value without having to worry about any numismatic value and more complicated selling process.

You can always find an intrinsic value for a Sovereign thanks to the public spot price. The value of a gold Sovereign is therefore generally the same regardless of the year and is just based on the metal content. Some years of Sovereign coins might command a further premium. A lower mintage, or special design could see their value increase beyond their metal content.

How Much are Gold Sovereign Coins Worth?

If you are wondering how much are gold Sovereign coins worth, a simple rule of thumb is that a gold Sovereign has 7.32g of pure gold. If you see the gold price in grams/ounces you can therefore work out how much a gold Sovereign is worth quite quickly.