Gold sovereign pieces have been used as a store of wealth and as an ode to the British Empire for years. Initially minted way back in 1489, gold sovereign coins were temporarily halted until production resumed in the early 1800s. The coins have been produced in nearly every year since. The British relied upon numerous overseas arms of the Royal Mint to create gold sovereign coins so they could be used throughout the world. Though the first World War brought the circulation of gold sovereign coins to a grinding halt, these coins became increasingly admired as time progressed. If you hold a gold sovereign coin, it should be appraised by professional gold buyers.
Why Gold Sovereigns are Worth Good Money
All sorts of gold sovereign features, ranging from design to age, rarity and the site of minting all play a part in the overarching value. These coins have been sought after for years. The typical sovereign has minimal nominal value and considerable worth as as a bullion coin that stores or even gains value. This is not the type of coin meant to be used for daily purchases. Everything from storage and distribution to the gold sovereign’s raw material and even the processes used for minting contribute to the overarching value. Above all, the coin’s rarity means the most when it comes to value. Gold sovereigns are typically produced in very limited quantities compared to the regular coins we have in our pockets.
Sovereign coins are made from 22 carat gold. In other words, gold represents nearly 92 percent of the coin’s total mass. The sovereign’s weight of 7.98 grams is primarily made up of gold. Slightly more than 7.3 grams of this total are comprised of gold.
The Story of the Gold Sovereign
The gold sovereign is named and designed after the Britain’s Royal Household. The coins were dubbed “sovereigns” thanks to the royal portrait on the coin face. All gold sovereigns display the likeness of King Henry VII on the face. The coin’s reverse side features a royal coat of arms presented on a shield with a Tudor double rose along with the portrayal of Pestrucci’s St. George battling a Dragon. Some sovereigns feature another design created during the time of George IV, Elizabeth II, Victoria or William IV.
How Rare is Your Gold Sovereign Coin?
If you have one or several gold sovereign coins, do not jump to conclusions. Though there is a chance you have an uber-rare piece, the bottom line is these coins are minted each year. You likely have a beautiful gold sovereign worth good money. However, you will never know what your gold sovereign is truly worth until you ask an expert. Bring your gold sovereign to Gold Smart for a thorough analysis and you will finally know what your gold sovereign is worth in today’s dollars.
Contact Gold Smart Today
Are you looking for a detailed breakdown of your gold sovereign or other gold piece? If you are interested in selling gold, reach out to us at 0800 465 376. You can also contact Gold Smart through our online Live Chat feature.