Gold Sovereign Coins
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Country: Great Britain
Face Value: £1GBP
Gold Content: 0.2354 ounce (7.3224g) – Alloyed with copper, or copper and silver
Purity: 917/1000 (22 karat)
Gross Weight: 7.9881g
Coin Diameter: 22.05mm
First year of issue: Modern Sovereign 1837
The Gold Sovereign coin was first issued in 1489 for Henry VII of England and is still in production today. Sovereign coins are arguably the most famous of all gold coins and should form a part of every gold portfolio. They are desirable to investors and collectors alike. Due to their long history of production Gold Sovereign coins are split into several types, each with their own pricing and nuances. Modern coins will be of the last 10-15 years and probably still be in their plastic blister pack. Older coins, particularly dated pre-1933 tend to exchange hands either loose or in rolls of 50. Physical Gold offers an easy way to buy and sell sovereign coins.
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These British coins typically have a face value of £1 sterling or 20 shillings. When it was first released it was primarily an official piece of bullion with no mark of value on the actual coin itself. The coins were 23 karat gold and weighed 15.552 g, Henry VIII reduced the purity to 22 karats with a weight of 7.322 g.
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The core Full Sovereign coin has spawned several other Gold Sovereigns of varying sizes. These include the 2 Pound coin (or double Sovereign), the Five Pound Coin (you guessed it – a quintuple Sovereign, making it the largest gold content of any British coin), the Half Sovereign and the Quarter Sovereign. Generally, you’ll pay more per/oz for the smaller fractional coins than the full Sovereign or larger coins.
Sovereign coin production ceased in 1604, being replaced by Unites, and later by Laurels, and then Guineas. In 1817 production of Gold Sovereign coins restarted.
Modern Sovereigns are those minted during the reign of Victoria, Edward VII, George V, George VI And Elizabeth II. These Sovereigns feature the monarch who reigned during their production on the obverse side.
The reverse most commonly features Saint George slaying a dragon which was designed by Italian engraver Benedetto Pistrucci. A number of different shields have also featured on the reverse and often attract a higher price tag.
As a coin of the realm in the UK, buying gold sovereigns benefits from being free from Capital Gains Tax for UK residents. You can buy gold sovereign using any of the order, delivery and storage options throughout the Physical Gold website
Alongside the Union Jack, bulldog and red telephone box, the gold sovereign coin is one of the most iconic British symbols, providing the basis of timeless gold investment as well as a treasured lifelong possession.
Another reason for their popularity amongst collectors is their worth. A fantastic way to preserve value against inflation, gold sovereign coins hold their value particularly well over time and provide an excellent all-round investment. This also makes them a popular starting point for those thinking of investing in gold.
Some choose to buy gold sovereigns from recent years, others from hundreds of years ago meaning that the value of gold sovereign coins can be hard to determine. At Physical Gold we are experts in buying and selling sovereign coins and can precisely value new and old coins.
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Those looking to sell sovereign coins often cite their flexibility as one of the motives behind their decision, allowing them to keep their investment in smaller units. Whether to sell or buy gold sovereigns, the consistency of the production quality is often still hailed as one of the finest in the world.
Gold sovereigns are made with 22-carat gold. This consists of 11 parts crown gold out of 12 and one-part copper out of 12. This composition has not changed since the issue of the 1817 sovereigns. This particular composition of the alloy used in making the sovereigns ensures the coin is more durable and protects it against scratches and dents.
With opportunity, lies danger
Gold sovereigns enjoy high demand from numismatists around the world. Due to its great demand, the coin commands a much higher price than its weight in gold. Unfortunately, this has also led to some instances of counterfeit coins appearing in the market. When buying a gold sovereign, it is therefore important to ascertain whether the coin is genuine. Gold coin dealers or brokers use a coin gauge to detect fakes, as well as checking measurements and weight. In one instance, a few fake 9-carat gold sovereigns had started circulating in the market. However, an experienced coin dealer will spot the counterfeit coin immediately due to its discrepancy in weight and thickness. Gold itself is a difficult metal to counterfeit, owing to the density and colour of the metal. Fake gold sovereigns are usually underweight or have the wrong dimensions. Today, the gold sovereign is a protected coin and enjoys protection from the UK government through the forgery and counterfeiting act 1981.
If you wish to buy gold sovereigns, ensure you purchase from a reputable dealer to ensure the lowest price. If you are looking to sell sovereign coins Physical Gold can make the process easier. As proud members of the British Numismatic Trade Association (BNTA) Physical Gold is committed to dealing coins in a legal and efficient way. In addition to this Physical Gold is a member of the National Association of Pension Funds making it possible to buy and sell gold coins as part of a wider long term investment plan.