Sell Gold Sovereigns

History of the British Gold Sovereign

Produced by the Royal Mint, the British gold sovereign is arguably the most well-known bullion coin in the world, and has been a first-class choice for investment gold for decades. It is a gold representation of British strength and financial power and has been since its first minting in the 1400s.

What is the British Gold Sovereign?

The British gold sovereign is a kind of gold coin minted in England. They’ve been minted off and on since 1489, with breaks in minting every couple of years. Each new monarch has a unique design, with the last being minted in 2023 with the new portrait of King Charles III.

When and why was the British gold Sovereign created?

A quick history lesson is the backdrop for the dreaming-up of the first sovereign gold coin. In the 1400s England experienced 30 years of war (called the War of Roses which managed to be more destructive in a third of the time than the Hundred Years War was). It was a war over who would get to sit on the throne and in 1487 Henry VII was the victor. Henry VII began the Tudor dynasty, and his family symbol was the rose. This rose would later be called the Tudor rose.

With this victory came a period of rebuilding. Henry VII had to consolidate power and prove that he was the rightful ruler now that he had beaten all the other factions that wanted to control England.

One way he sought to do this was with the creation of the first gold sovereign in 1489. Henry VII ordered a gold coin of 20 shillings. This was the first coin valued at one pound. This coin had Henry VII on one side, the “sovereign” seated on his throne, holding an orb and sceptre while surrounded by other elements that showed off his position. The other side of the coin featured the Tudor rose set around Henry VII’s coat of arms.

This was the largest coin ever minted in England, and both sides were proof positive of the craftsmanship and beauty of the fashions that rose with the English Renaissance of the time.

The next generation of gold Sovereigns

The next in the Tudor line, Henry VIII, has been immortalised in plenty of ways. One of these was through his own series of gold sovereigns. Eight mints produced sovereigns while Henry VIII was on the throne, with the third and final coinage being heavily debased. This was because these coins had a much lower gold content.

The sovereign coins continued to be minted and circulated as the Tudor line continued its reign. This included Edward VI’s coins, Mary I’s coins, and Elizabeth I’s coins.

The end of the original gold Sovereigns

Once Elizabeth I died in 1603, the Tudor period went along with the official use of sovereigns. The Stuart monarch, James I, had a first coinage of 20 shilling sovereigns, but for his second in 1604, he changed the name to “unite.” This was a way for him to try to unify England and Scotland into Great Britain.

The return of the British gold Sovereign

The Battle of Waterloo in 1815 marked a review of coinage. England looked at coins to determine the best course forward, and although they initially wanted to re-introduce the 21 shilling guineas, the public wasn’t in favour of that. Instead, they found that “A very general wish prevails among the Public in favour of a Coinage of Gold Pieces of the value of Twenty Shillings and Ten Shillings, in preference to Guineas, Half Guineas and Seven Shilling Pieces.”

To fulfil this, a new gold 20 shilling coin was minted, but it was given the old name of sovereign. This new coin was almost half the weight and diameter of the original. Most notably, it featured an image of St George and the dragon designed by one of the most celebrated gem engravers in the world, Benedetto Pistrucci. This image has been one of the most often used images on British gold sovereigns ever since.

How much is a gold Sovereign worth today?

Some British gold sovereign coins are considered collector items. With hundreds of coins minted during the almost 600 years they’ve been created, various designs, sizes, and gold purities will affect the value of your sovereign. However, it’s estimated that as little as 1% are in collectable condition which makes them highly valuable to collectors.

To figure out the value of a gold sovereign you need to consider:

• The standard (what minting was it?)
• The size
• Gold content
• Current live market gold price

For generic UK sovereign coins that do not have further collectible or numismatic value, you can use our gold price calculator above to get a value estimate.

Getting the most for gold Sovereigns throughout the years

The British gold sovereign has long been a tool to spread wealth and power throughout England, right from its first minting as a way to consolidate the first Tudor king’s power.

If you have gold sovereigns you’re looking to sell, Cheshire Gold Xchange is a trusted gold buyer who can help you get a fair price for your gold sovereigns. We offer the most reasonable market rates for your gold and have the specialised experience to ensure they’re treated correctly. Get an estimated quote over the phone at 01925 387 107, or have a face-to-face valuation at Cheshire Gold Xchange.

How do I know if my gold Sovereign is genuine?

Authenticating a gold sovereign can often be difficult. You can bring your half and full sovereign coins into our office, or send them to us via our prepaid postal service for quick inspection. Alternatively, there are a few steps below you can follow to give you an indication of authenticity.

Weigh the coin

The first step would be to weigh the coin, the weight should be exact at 7.98 grams for a full sovereign. You will need an accurate, calibrated set of digital scales to achieve an accurate reading. Poor counterfeit sovereign coins will weigh incorrectly. Although this is a first easy step to filter out a fake sovereign, this is not a guaranteed authentication method as some fakes will contain lower gold content but weigh as they should. You should always request the second opinion of a professional before conclusively deciding if your gold sovereigns are genuine or not.

Inspect the sovereign design

Inspecting the gold sovereign closely with a loupe or magnifying glass to identify any design faults during the minting process. Fake full and half sovereigns will often have poor design detail, you can cross-reference the design against images of the same coin online. The edge of a sovereign should have a ridged finish, check the side of your coin for consistency. The design on the front and back of the sovereign should also align correctly.

Test the gold purity

Genuine gold Sovereigns should be made of 22 carat gold. Testing the coins for their gold content can give a strong indication of authenticity. There are various methods of testing which can be used, these methods are normally carried out via professionals. Such as XRF (x-ray) scanning the coins, acid testing, and other electronic screening methods.

Magnet Test

A simple testing method is to check to see if your sovereign is attracted to a magnet. Gold at 22 carat should not be attracted to a magnet. If your sovereign is magnet it may be a sign it is not authentic.

What is the best way to sell a gold Sovereign?

When looking to sell gold sovereign coins, it’s important for you to consider you selling options. Choosing who to sell to can be tricky, you must consider how you can achieve the highest price, ensure a confidential and secure transaction, and an honest valuation.

Choosing to sell gold coins to a specialist gold dealer is usually your best option. You can sell your coins very close to the live metal price with a small deduction for the coin dealer’s profit margin. Gold buyers work on large volume so are willing to make a smaller profit margin, buying gold is their business so transactions are usually carried out quickly and securely. Be sure to read customer testimonials and reviews from other coin sellers and obtain multiple quotes.