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| The british gold sovereign is given to US airforce pilots as part of their survival gear should they crash land in hostile territory. The fact that the most powerful nation on earth would prefer the british sovereign gold coins to its own gold eagles, says something about the world wide acceptance that the british sovereign enjoys. |
| The british gold sovereign has been around for hundreds of years. The first british sovereign gold coins were produced in 1489 during the reign of british king Henry the seventh. At that time governments all over europe had issued gold coins and the british government wanted to show other countries that it had similiar power and prestige.
King Henrys original british gold sovereign was 0.5 troy ounces of 22K gold of 95.85% purity.The 22K gold used set the standard for UK gold coins for hundreds of years after. It was also the standard adopted by the USA for its gold coins.
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| One of the early problems with old british sovereign gold coins was that they wore out from constant use. This problem was so widespread that during victorian times, the UK government had a program to collect old underweight sovereigns and replace them with brand new ones. Many of these brand new coins were saved by coin collectors of the day.
In addition, because of the worldwide acceptance of the sovereign, there have been times in history when the british gold sovereingn has been counterfeited. You could say imitation is the sincerest form of flattery, but in real terms, it is reasonable to expect that such copies still exist in circulation today. Be sure to buy your sovereigns from a trusted source who can authenticate them. |
| Most sovereigns found today show Saint George slaying a dragon on the reverse side. The legend of Saint George and the dragon is very popular in British culture. This design has been in place since 1817 when brand new steam presses were put into operation at the Royal mint. This was the beginning of the industrial revolution and the sovereigns were the primary currency that was used to pay for it.
From 1817 to 1820 the Saint George design was enclosed within a garter. When George IV became king in 1821 the garter was removed. The opposite side of the coin always showed a portrait of the reigning monarch. |
| The minting of sovereigns continued up to the first world war until bullion shortages stopped its production in 1917. By that time paper one pound notes had been introduced and became so popular that sovereigns were no longer needed. Some sovereigns were minted in 1925 but it was only member countries of the british commonwealth that continued production. Ottawa in Canada produced them until 1919, Bombay in India produced them until 1918, Sydney Australia until 1926, Melbourne and Perth Australia until 1931, and Pretoria South Africa until 1932. |
| Starting in 1957, sovereigns were issued as bullion coins almost every year until stopping in 1968. In 1974 full production was resumed and proof versions were added, the first being in 1979. There has always been special commemorative sovereign issues dating as far back as the 1500's when double and quintuple thickness gold coins were produced. In more recent times there has been the 1937 George the sixth proof set and the 1989 500 year commemorative issue. |
| For 2005, the old saint George and the dragon design was modernized and the coin continued to be issued as both a bullion coin and for normal circulation. The sovereigns will no doubt remain as popular as ever and represent a great way for the beginner to get into gold coin collecting or as a treasured keepsake present for christmas or birthdays.
22-carat gold sovereigns are a favourite with British investors. As of this writing in October of 2008, Sovereigns dating from about 1887 and up to 1982 are the best bet. Even though their face value is only £1, they cost about £136 or $209 U.S.
Sovereigns dating from 2000 cost more, at around £160 or $246.00 U.S., but their investment value is £118, the same as the older sovereigns. Coins from before the late Victorian period are even more valuable, but then these are valued more as collectibles and are therefore more expensive.
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