The Gold Sovereign: a piece of England's history
The Sovereign is a British gold coin which was first minted back in 1489. Over time, it has appeared in various sizes and different designs, but the most famous version is undoubtedly the modern British Sovereign gold coin first minted in 1817. Thanks to its high-quality gold content and historical significance, this popular sovereign coin is widely known throughout the world and much sought after as a collector’s piece, or for its investment potential as a bullion coin.
The Sovereign coin: a potent symbol of England's past
The history and origins of the sovereign stretch back deep into England’s past, and this coin is closely linked to the evolution of coinage, the establishment of royal authority, and the development of international trade. The first sovereign coin was minted in 1489 during the reign of King Henry VII of England. The name “Sovereign” comes from the Latin word “superanus”, via the Middle English “soverain”, each term describing a “supreme coin” implying a “supreme authority”. This name was carefully chosen to emphasise the coin’s royal authority and thus its status as the foremost gold coin of the realm.
Henry VII introduced the sovereign coin because he wished to strengthen England’s economy and secure royal assets. This version was a gold coin approximately 20 mm in diameter with a face value of one pound sterling. The coin depicted the king seated on an elaborate throne and carried the royal coat of arms on the reverse side.
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The evolution of the Sovereign coin within the English monetary system
Over the years, the sovereign coin became an important part of the monetary system in England, playing a crucial role in international trade. Due to the coin’s high gold content and the stability of the English crown, the sovereign quickly became a sought-after currency throughout Europe.
In later centuries, different English rulers minted sovereigns in different sizes and featuring a range of designs. A significant change occurred in the 17th century with the arrival of Oliver Cromwell. In his role as English military leader, statesman, and Lord Protector of the Commonwealth of England, Scotland and Ireland, he rejected the royal inheritance and thus put an end to the minting of sovereign coins. It was not until the 19th century that Queen Victoria revived the coin, by which time the United Kingdom had become an international economic power.
Throughout the 19th and 20th centuries, the sovereign retained its importance as an international reserve currency. The coinage was considered a stable, accepted currency in many parts of the world and thus played an important role in international trade. The minting of sovereigns was temporarily suspended during the First World War, but was resumed in the 1950s.
The modern British sovereign is still minted today. Collectors value these coins as a symbol of England’s royal history and recognise their important role as a means of securing the value of asset gold.
- NB: If you are interested in the sovereign coin or other physical investments incorporating precious metals, we would be happy to advise you about bank-independent storage options at Swiss Gold Safe.
Sovereign gold alloy weight and specifications
The sovereign coin is available in two sizes: A Full Sovereign = nominal value of £1 (GBP), and a Half Sovereign = nominal value of 50p (GBP). The dimensions of the full sovereign are 22.05 x 1.52 mm, and the coin weighs 7.988 g. At 19.30 x 1.52 mm, the half sovereign is slightly smaller and weighs in at 3.994 g. These coins are made from 22 carat gold, which means they each have a gold content of 91.67%.
Mintage of sovereign coins
The sovereign coin has been produced in various mints throughout its long history, and not just in England. The mints used thus vary according to the time period and the specific requirements of each respective royal government. Here is a quick overview:
- The Royal Mint, London, England: London’s Royal Mint is the oldest mint used for the sovereign coin. It has a long tradition of minting such coins and remains one of the primary mints producing the modern British sovereign coin.
- The Perth Mint, Australia: Throughout history, the sovereign coin has also been produced at mints outside the UK – such as the Perth Mint in Australia. One particular period which saw sovereign coins minted in Perth was during the 19th-century Australian gold rush. These coins employs an alloy of silver rather than the usual copper, which is why they have a slightly different colouring from that of classic gold sovereigns.
- The Royal Canadian Mint, Canada: In the past, sovereign coins were also minted at Canada’s Royal Canadian Mint. This was usually done to support production, especially during times of high demand.
- Other Mints: Temporary mints in other countries, such as South Africa and India, were also used to meet particularly heavy demands for the coin or to celebrate certain significant historical events.
A miniature masterpiece: The design of the British sovereign
The design of the modern British Sovereign coin is a stunning piece of artwork that captures England’s rich heritage and traditional royal symbolism. Naturally, there have been some changes over the centuries, but these have been relatively minor and the coin remains a symbol of power, strength and royal authority.
The face of each sovereign coin usually bears a portrait of the reigning British monarch – often wearing a crown and featuring other royal regalia. The precision and detail of each portrait is impressive as it captures and reflects the distinctive features of each monarch.
The reverse of the sovereign features the legendary image of Saint George subduing a fierce dragon. The patron saint of England is dressed as a knight in armour and sits astride a horse as he pierces the mythical creature with his spear. This iconic image symbolising the triumph of good over evil is generally known as “St. George and the Dragon”. One of the best-known motifs in the field of numismatics, this scene appears over and over again in various cultural contexts.
In addition to this traditional design, special editions of the sovereign are also minted from time to time. These issues often celebrate special events such as important anniversaries or other significant occasions. Nevertheless, the basic design – representing a long-established tradition which incorporates royal symbolism and captures the essence of England itself – still remains largely unchanged.
An exceptional market position
The sovereign coin occupies a prominent position on the international market. It is, without doubt, one of the best-known and most respected gold coins in the world. One reason for this is the historical significance of the coin, whose heritage dates back to the 15th century. All Anglophiles celebrate this enduring connection to the English monarchy.
Another reason the coin is sought after is its high gold content, which makes the sovereign a tried-and-tested option for buyers looking to purchase physical gold as a safe haven in times of high inflation and economic uncertainty. Holding sovereign coins is often considered a practical way to diversify wealth and thus spread risk across a broader portfolio. This rich gold content in combination with a centuries-old connection to England’s ruling monarchs gives this coin another popular attribute: the sovereign has exceptional market visibility. This strong international acceptance facilitates trading and market liquidity. In addition to this, the financial world often uses the sovereign as a reference point for gold prices and gold valuations.
The coin’s historical credibility and remarkable design, coupled with special editions and the limited availability of certain years, adds considerable value to the sovereign from a collector’s perspective.
An investment instrument
Investors consider the sovereign to be one of the best gold coins: It offers buyers an ideal balance between affordability and value, while its compact dimensions and comparatively low weight make it easy to store and transport. Meanwhile, its UK provenance guarantees a high level of security and stability: The sovereign is minted by the British government, thus its weight, purity and authenticity is beyond doubt. This gives potential buyers an extra level of confidence, reassuring them they will receive a premium product. The sovereign has legal tender status, though its precious metal value far exceeds the nominal face value.
Buy Sovereign gold coins from a specialist retailer and store them with an expert
Sovereign gold coins, whose long history invariably makes most of them a collector’s item, are often sold by private individuals. But investors who wish to ensure they only buy genuine original products are better off purchasing sovereigns from an authorised retailer. The Swiss specialist retailer Echtgeld AG, which would be an ideal source, has a range of both half- and full-sovereign pieces available. Investors can buy this classic coin by visiting an Echtgeld store, or by requesting offers via their online shop. In addition to detailed advice on buying or selling Sovereign gold coin products, this expert will also deliver a customer’s gold purchase direct to a Swiss Gold Safe vault.
There has been a close business collaboration between Echtgeld and specialist storage provider Swiss Gold Safe over many years. Among other things, this arrangement includes a delivery service to safe deposit facilities in Switzerland or Liechtenstein, or to a Swiss domestic warehouse where gold coins can be held in allocated & segregated storage. It is also possible to sell customer inventory via Echtgeld direct from the warehouse. Both companies act independently and have pooled their respective core competencies for the mutual benefit of their clients and customers. Thus investors can purchase precious metals from a specialist retailer and store them with a professional storage provider. Swiss Gold Safe stores all precious metals independent of the banking system and includes tailor-made insurance packages. Please visit this page to access comprehensive background information about precious metal coins and bars.
The Sovereign gold coin – a summary:
- The Sovereign is one of the world’s most recognisable gold coins. It has acquired a rich historical significance since its introduction in the 15th century during the reign of Henry VII of England.
- With its high gold content of 91.67% and backed by a government guarantee, the modern British sovereign offers buyers a safe haven and protection from economic uncertainty.
- The Sovereign’s unique design guarantees international acceptance and high collector value, making this coin a sought-after purchase option for collectors and investors worldwide.
- Compact dimensions and broad availability mean the Sovereign Coin remains an accessible option for those buyers looking to purchase physical gold.