The gold sovereign is a British gold coin first introduced in 1489 and is still being minted today although none were made from 1604 to 1817. Nowadays gold sovereign coins are a collector’s item or an investment rather than being used for currency. Gold sovereigns are particularly popular with people investing in gold.
The modern gold sovereign coin was first minted in 1817 during the reign of George III. The iconic Saint George and The Dragon reverse as we recognise it today first appeared in this format in 1821 for the reign of George IV.
At times during its history, the shield back has replaced St. George, notably during the Georgian era and also in the reign of Queen Victoria.
The modern sovereign and half sovereign are made of 22 carat gold. The full sovereign weighs just under 8 grammes making its scrap value today around £140 with the scrap value of the half gold sovereign being half of that. Of course, other than some very poor examples of the more common George V gold sovereign they are in general worth far above their scrap value.
For collectors and investors a general rule is that the older the sovereign the more valuable it is, although there are exceptions to this. Some investors do prefer to buy new mint condition encapsulated gold sovereigns so that they remain in newly minted condition.
If you are collecting, it is worthwhile investing in a case or box which are readily available to house your collection. This will retain the condition and value of your gold coins and is especially a good idea for the small half sovereigns, only about the size of 1p, to prevent loss or damage.
Recently on eBay 20th century gold half sovereigns are selling for between £75 and £100 depending on condition. Some of the more modern full sovereigns are selling for as little as £150 to over £200. A George III 1817 sovereign sold for £500.
According to Spink (the bible for coin collectors) 2008 issue, the book value for an 1817 full sovereign is between £275 and £1650 depending on condition. If you are lucky enough to find the much rarer 1819 issue, you could expect it to be worth a minimum of £22,500!
For those collectors who prefer a shiny new gold coin, the Royal Mint is currently selling the 2010 issue of the full gold sovereign, bullion quality in a presentation case for £199. Imagine what a fabulous gift this would make for a birth, wedding, special birthday or graduation during the year.
Over the years, many people have had their gold sovereigns mounted in pendants or rings to show them off. This can affect the value, either in a good or a negative way depending on the quality of the mount and whether it has caused any damage to the coin. Buying these can sometimes result in a mistake, however, as there have been times when gold rings and pendants have been made with fake sovereigns that are of lower quality 9 carat gold and are of much lower value. If in doubt, don’t buy.
