Gold sovereigns are by far the most recognized coin in the world. The coins hail from the Royal Mint of London and have been valued by collectors for ages. If you have gold sovereign coins to sell, Gold Smart will give you a fair price for all of your pieces. If you are new to buying and selling gold sovereigns, the following can help you understand the exceptional value of the coins.
History of the Gold Sovereign
The original gold sovereign was created during the reign of Henry VII in 1489 when the king ordered his officers to produce a new form of currency. Sovereigns were not the first British coin circulated, but no other coin had been as widely circulated. The first gold sovereign had an image of Henry VII on his throne—beginning the tradition of the reigning sovereign to be depicted on one side of the coin. The reverse image featured the royal coat of arms. The first issue of sovereigns ended in 1604 before getting a revival in 1817. To re-launch the coin, a new picture for the reverse side was selected. The image on the gold sovereign coins featured St. George slaying a dragon designed by famed engraver and artist Benedetto Pistrucci. Besides a select few limited edition releases, this image has remained on the sovereign.
Minting of the gold sovereign continued until the 1930s when it was found to be too much of an expense and notes were far cheaper to circulate. In 1957, the Royal Mint began to produce gold sovereigns again. Since this time, each year, the Royal Mint releases collectible and commemorative sovereigns. Rare sovereigns can sell for exceptional prices at auction. For instance, a gold sovereign minted in 1937 of Edward VIII before his abdication sold for 516,000 pounds in 2014.
Sovereign coins are sold in two sizes: half and full. The full coin has a face value of one shilling. The full is also 0.2354 Troy ounces of pure gold and weighs 7.98 grams. In comparison, a half sovereign has 0.11 troy ounces of gold and weighs 3.99 grams. Gold sovereign coins are produced from 22 carat gold. Since the gold in the sovereign is worth more than the face value, the coins are purchased and traded among collectors and investors.
Selling Gold Sovereigns to Gold Smart
Once you have gold sovereign coins, you may not know what to do with them. Although they have a collectible value, they also are valuable because of their gold content. Selling gold sovereign coins to a trusted broker like Gold Smart can ensure you have a safe and pleasant transaction. Thousands and thousands of New Zealand clients have sold their gold coins and jewellery to our store. We can process transaction in person at our Auckland storefront or have courier services available. Courier packs are a convenient way to get your gold coins to our appraisers safely. Couriers make arrangements to pick up your gold and deliver it to our location. At the day of receipt, you will receive a custom quote from one of our agents. If our offer is accepted, immediate payment is made. In the rare case our fair offers are not accepted, all gold items are returned to you promptly and free of charge.
Outside of New Zealand? Don’t worry, we have you covered. You can send your items directly to us and we will even reimburse you for a portion of postal charges. Just give us a call ahead of shipping, so we can assist you with securing your package.
Contact Gold Smart today about selling your sovereign coins. Our hassle-free process makes it easy to get cash instantly from your unwanted gold coins and jewellery.