King George V Sovereign – A Complete Guide

King George V Sovereigns are among the most recognisable historic British gold coins. First issued in 1911, they were struck during a fascinating period of British history that included the First World War and the final years of widespread Sovereign circulation.

Today, George V Sovereigns appeal to both gold investors and coin collectors. Each full Sovereign contains 0.2354 troy ounces of pure gold and, like other UK Sovereigns, is made from 22-carat gold.

As British legal tender, Sovereigns also have an important advantage for UK investors – any gains made when selling them are exempt from Capital Gains Tax (CGT).

If you are looking to invest, you can browse and buy King George V Sovereigns or explore our complete range of Gold Sovereign coins.

George V Sovereigns were produced at several mints around the world, reflecting the international reach of the British Empire and the importance of gold Sovereigns in international trade.

Coins were struck in:

• London
• Sydney
• Melbourne
• Perth
• Ottawa
• Bombay
• Pretoria

The mint can usually be identified by the mint mark on the reverse of the coin, positioned above the date beneath St George and the dragon.

London Sovereigns have no mint mark. Sovereigns produced elsewhere can carry the following marks:

• S – Sydney
• M – Melbourne
• P – Perth
• C – Ottawa, Canada
• I – Bombay, India
• SA – Pretoria, South Africa

Different dates and mints had significantly different production levels. This means that while many George V Sovereigns trade primarily according to their gold content and condition, particular combinations of date and mint can have additional numismatic value.

Bombay Sovereigns are particularly interesting because Sovereign production in India was short-lived. The Bombay branch produced Sovereigns in 1918 as Britain sought to increase gold coin production during the First World War.

Pretoria subsequently became another major source of Sovereign production, with George V Sovereigns struck there between 1923 and 1932.

One of the best-known rarities from George V’s reign is the 1917 London Sovereign.

Although Sovereigns were struck in London in 1917, many were subsequently melted, contributing to the scarcity of surviving examples. Genuine 1917 London Sovereigns can therefore command a substantial numismatic premium depending on their condition and provenance.

However, a 1917 date alone does not necessarily mean that a Sovereign is exceptionally rare. George V Sovereigns were also produced at overseas mints, so the mint and date need to be considered together.

This is an important distinction for anyone assessing an older Sovereign. Two coins bearing the same monarch and date can have very different values depending on their mint, rarity and condition.

For a broader explanation of the factors affecting Sovereign prices, read our guide to how much Gold Sovereign coins are worth.

Every genuine full George V Sovereign contains the same underlying quantity of gold, giving it an intrinsic bullion value linked to the prevailing gold price.

Some examples can be worth more than their underlying gold content because of their numismatic appeal.

Factors that can influence the value of a George V Sovereign include:

• the gold price
• year of issue
• mint of origin
• rarity
• condition
• grade
• demand from collectors
• provenance in the case of particularly rare examples.

Common-date circulated Sovereigns may trade relatively close to their underlying bullion value, while rarer dates, mint marks or high-grade examples can attract considerably higher premiums.

This distinction is important when deciding whether you are buying primarily as a gold investor or as a collector.

Our portfolio Creator shows you the best precious metal investment for your budget.

• Before buying a George V Sovereign, consider why you are purchasing the coin.

  If your primary objective is investing in physical gold, the premium you pay above the coin’s underlying gold value is an important consideration. A common-date Sovereign in good condition may be more appropriate than paying a substantial premium for a rare collector’s coin.

  If you are buying for numismatic reasons, the date, mint mark, condition and rarity become much more important.

  You should consider:

  1. Date and mint – establish where and when the Sovereign was produced. Some combinations are significantly scarcer than others.
  2. Condition – wear, scratches and other damage can affect the numismatic value of a coin.
  3. Authenticity – historic gold coins can be targeted by counterfeiters, so buying from an established precious metals dealer is important.
  4. Premium – compare the purchase price with the coin’s underlying gold value to understand how much additional premium you are paying.
  5. Your investment objective – decide whether you primarily want exposure to gold or are prepared to pay more for rarity and collectability.

  If your focus is primarily investment, our guide to Gold Sovereign coin premiums explains how premiums can affect the overall cost of buying physical gold.

George V Sovereigns combine several characteristics that can appeal to physical gold investors.

Established gold content

Each full Sovereign contains 0.2354 troy ounces of pure gold. This gives the coin an underlying bullion value that moves broadly in line with the gold price.

Capital Gains Tax exemption

Because Sovereigns are British legal tender, gains made by UK individuals when selling them are exempt from CGT.

VAT exemption

Qualifying investment gold is exempt from VAT in the UK.

Recognisability

The Sovereign is one of Britain’s best-known gold coins and has an established international market among bullion dealers and collectors.

Historical appeal

Unlike newly minted bullion coins, George V Sovereigns have a direct connection with an important period of British and international history. This can provide additional collector demand for particular coins.

Potential numismatic value

Scarcer dates, mint marks and high-grade examples may attract a premium above their underlying bullion value.

However, rarity should not be assumed simply because a coin is old. Many George V Sovereigns were produced in substantial numbers, so investors should consider the individual coin rather than age alone.

For investors choosing between a George V Sovereign and a newly minted Sovereign, the fundamental gold content is the same.

Both are 22-carat gold and contain approximately 0.2354 troy ounces of pure gold.

The main difference is the potential numismatic element. A modern bullion Sovereign will generally be valued primarily according to its gold content and market premium, whereas certain George V coins may command an additional premium because of their date, mint, condition or rarity.

For investors whose priority is simply acquiring physical gold at a competitive price, our best value Gold Sovereigns can provide a straightforward way to compare available options.

Physical Gold stocks a range of pre-owned British Sovereigns, including King George V coins when available.

Our pre-owned Sovereigns are checked for authenticity and condition before being offered for sale, and our team can help explain the differences between bullion-focused Sovereigns and coins carrying an additional numismatic premium.

Browse our current King George V Gold Sovereigns or view the complete range of Gold Sovereign coins.