Sovereigns are Gold coins minted in the United Kingdom from 1817 to 1914. Gold Sovereigns were made as a replacement for Gold guineas, which had been used since 1663. The Gold sovereign was worth one pound and could be divided into 20 shillings or 240 pence. Gold Sovereigns were discontinued after World War I because of their high value and a change in currency standardization policies.
If you’re looking for an investment that will yield more than 10% annually, then Gold is your best bet! Learn all about Sovereigns with this article!
What should I know about this?
Sovereign Coins were first minted after Britain left the gold standard back in 1837. They had such high value that merchants often used them instead of cash, or sometimes even between banks who held large amounts of capital. This led to British coins being exported worldwide because people knew it was just as valuable as its weight stated: 24 grams of pure Gold. Sovereigns are still used by many coin collectors today because of their high value, even though they aren’t physically made anymore.
Sovereigns are still very popular among coin and numismatists for their Gold content and their history. They carry the Gold weight of that time yet are much easier to transport than heavy Gold bars or ingots.
Sovereigns are an excellent Gold bullion coin to buy because they have been made for over 300 years and can still be purchased today. Gold coins from pre-1933 carry the same Gold content as those produced by the Royal Mint in 1933 or any other year after – 21.21 Gold grams.
Gold Sovereigns were first minted under King Henry VII at The Tower of London around 1489/1490 AD. Initially, these Gold coins weighed just slightly above 70 grains (or approximately 45 grams). This was later changed to 62 grains, equivalent to 40 pence when using old British money conversions: 24 troy ounces = £20 and 20 shillings per pound sterling. These Gold weights continued all through Britain’s Gold Sovereign history. Sovereigns were minted in the United Kingdom until 1917 when production was halted during World War I (though Sovereigns were produced by Australia, South Africa, and India). A year after making their currency, these countries stopped minting Sovereigns (1931 for Canada; 1932 for Australia & India; 1933 for South Africa).
From 1817 to 1920, Sovereign coins had a net weight of exactly 123.27 grains or approximately 77 grams. British currency used the Troy system instead of avoirdupois: 12 troy ounces = £20 per pound sterling, 20 shillings per £, and 21 pennyweights making up one troy ounce.
I hope this information has been helpful to you.