The secret of the gold sovereign hides behind centuries of history: the golden sovereign has the heritage of a great nation and the size of the greatest empire in the world. These pieces have been produced in many parts of the world, often travelling around the world and representing the crown.
They were the seal of the main commercial power of the world until the beginning of the 20th century. Filled with history and emotions, the Gold Sovereign is an option of choice for investors and collectors of coins. The sovereign is a gold coin from the United Kingdom that had the value of one pound sterling.
It was used as a legal tender from 1817, but presently it is just a bullion coin that is sometimes mounted in jewellery.
- The coin was first designed during King Henry VII of England. The first design has the then ruler of Britain face on one side, and the reverse has the royal coat of arms on a shield surrounded by a Tudor double rose.
- Another design of the coin includes the initials of the designer, Benedetto Pistrucci and a design of Saint George slaying a dragon on the other side. This design was done during the time of William IV, Victoria, George IV and Elizabeth II.
The name gold sovereign comes from the fact that the coin has a royal portrait on the face. Initially, when the coin was minted, it was hardly used because most people were using banknotes. However, when the banknotes were limited by law, the coin became popular. It not only became a popular circulating coin, but it was also recognized in the international market as a legal tender. The gold sovereign got its name from the royal household of Britain.
These gold coins were not only used in Britain as it spread to almost all part of the world. As mentioned earlier, it became recognised internationally, and it became a predominant means of monetary exchange from 1818 to the early 1900s. During this period, as the British Empire expanded, the mint factories that produced these coins were opened in different parts of the world.
and some other places that were under the British rule were also producing the sovereign coin. This was done to make sure there is enough supply of the British gold sovereign available for trade.
The original British gold sovereigns were 23-carat gold and weighed 240 grains. At the time of King Henry VIII, the purity of the coin was reduced to 22 carats of gold, which in both cases is the standard gold coin of the United States and the United Kingdom. This gold-plated alloy comprises 22 parts of gold and two parts of copper. The alloy had not changed since then, except in 1887, when silver was used instead of copper in the mix.
In the course of history, the weight of the British sovereign in gold was reduced several times until 1816. The Great Law of Recovery established the weight of the British gold sovereign at exactly 113 grains, where it stayed for almost two centuries.
Over a period of a little over two hundred years, from 1604 to 1817, the British gold sovereign was removed from production and replaced by a series of coins, notably Unites, Laurels and Broads, and finally Guinea. Although more than a billion gold coins have been forged throughout history, this number is not a true record of the availability of these coins, as it was common for Victorian banks to withdraw the deteriorated coins from circulation to be melted and rebuilt. In addition to this practice, it was common for foreign governments to cast coins and convert them into gold bars.
Because of these practices, the true representation of British gold sovereigns cannot be determined, as the modern gold British sovereigns could consist of gold from ruined pieces.
Modern British gold sovereigns have been minted since 2000 only at the Royal Mint of Llantrisant, Rhondda Cynon Taff, Wales. These parts are minted under the watchful supervision of the Department of Defense police in a sealed area of the Mint.
Currently, the gold sovereign value depends on the weight. Some people that are fortunate to inherit a large amount of this bullion coin may not know the actual value of a gold sovereign. The sovereign coin price as said earlier depends on the weight because as explained in previous paragraphs, the size of the gold was reduced from period to period.
If you are looking for how much are gold sovereigns worth today, you are at the right place to get the answer because this article will give you the breakdown of sovereign coin price and also serve as a gold sovereign price guide. However, before we talk about the price, you should know that gold sovereign coin is so named because it is made of gold. Although it is not entirely gold, which is why there are different prices; you should be aware of the fact that irrespective of the type, every gold sovereign coin has quite a worth.
- The five sovereign or £5 gold crown, this weights 39.96, and the gold content of the coin is 36.609. It is sold at the rate of £1,124.13
- The double sovereign or £2 weights 15.99; the gold content is 14.674. It is sold at the rate of £449.96
- The full sovereign is weighing 7.99 with a gold content of 7.314. It is sold at the rate of £224.68
- The half sovereign is weighing 3.99 with a gold content of 3.656. It is sold at the rate of £112.34
- The smallest size is the quarter sovereign that weighs 2 and has a gold content of 1.832. It is sold at the rate of £56.28
These values indicate the different amount of gold used in minting these coins relative to other materials.
The fact that sovereigns are considered semi-numismatic coins (an interesting point for coin collectors) of course means that certain sovereigns of a given year are worth even more than their value in precious metals. The demand of these sovereigns is greatly increased by certain factors such as the scarcity, specific design or by the sovereign or mint branch in which they were produced.
Older sovereign coins tend to earn more value in good condition and thus tend to receive a premium from collectors. Collections can also be done in sets, for example by date, ruler, size or country of origin. Since sovereigns were invented for a long time in different places, the anomalies are numerous, an example of which includes identifying letters for several mints, coins with imperfections, and unique design. While this is of particular interest to collectors of some sovereigns, it should be borne in mind that this is not necessarily more valuable in itself, since a precious metals dealer always values a precious metal coin for his pure metal content.
The information provided above has answered the question of how much gold sovereigns are worth today, and it has also thrown more light on gold sovereign value. However, this value may not be absolute as it depends on where you are going to buy or sell your gold sovereign. Nevertheless, these values will serve as a guide on how much a gold sovereign is worth.
If you have a gold sovereign, and you’re considering selling it, you need to find a place where you will get maximum value for it without getting cheated because you can actually get shortchanged if you don’t know how to go about it.
Spot4coins.com is a platform where you can trade your coins without getting worried about being scammed, and of course, you will also get the best value on your gold sovereign. See it for yourself by contacting us!