We talk a lot about gold here on our website (our name is Gold Smart after all) and today we are going to be looking at gold sovereign coins which are gold coins from the United Kingdom and various other countries. Today’s gold sovereign coins were named after their English counterpart, last minted in the 1600s. They have a fixed gold content of .235420 Troy ounces or approximately 113 grains of gold and have a value of approximately 1 pound sterling in the UK.
Gold sovereign coins were minted in England from the year 1817 to 1917 and then again in 1925. In 1957 they began minting them in Australia, India, South Africa and Canada. When the United Kingdom dropped the gold standard during World War I they were produced in extremely large quantities. When Winston Churchill tried (and failed) to return England to the gold standard in 1925 a few more were produced as well. They were last issued in 1932 and today, as gold continues to increase in price, they are being bought and sold quite regularly here in New Zealand and all around the world.
If you’re interested in selling gold sovereign coins in New Zealand the first thing that you’re going to want to get is an updated copy of Coins of England. This is a book published by Spink publishing and it lists quite thoroughly (but not completely) the most common gold sovereign coin replicas that are found on the market. The fact is that, when it comes to gold sovereign coins, there are a lot of replicas on the market and some of them are incredibly convincing.
Another thing that you should definitely consider purchasing is a scale to be able to weigh your gold sovereign coins. You’ll need one that has an accuracy of 0.01 g so that you can be as accurate as possible when weighing them. Most sovereign coins will weigh approximately 7.98 g and, on very rare occasions, 8.00 g. If you find a coin that weighs more than this you are almost always looking at a fake metal disc that holds practically no value. It might look like a gold sovereign coin but it’s almost assuredly not. You also should take a look at the actual thickness of any gold sovereign coins that you have as this is sometimes a tipoff to their being false.
One of the easiest ways to find out if the gold sovereign coins in your collection are authentic is simply to bring them down to our office here at Gold Smart. Not only do we have all of the tools necessary to determine authenticity beyond a doubt but also we pay the absolute highest rates in New Zealand for your gold sovereign coins.
In fact, we challenge you to go online and search for testimonials about our company. You’ll find that they are overwhelmingly positive and refer to the fact that, when it comes to gold sovereign coins (or any gold item for that matter), Gold Smart is one of the most generous in all of New Zealand. We’re the name that you can trust for anything that’s related to gold and if you have any questions or need our advice in any way you can always contact us for honest, straightforward and useful advice.