- Sell Gold Sovereigns – We Pay 98% of the Spot Price for Sovereigns, Best Prices Paid UK. Selling Sovereigns is Quick & Easy including Same Day Payment. Sell Gold Sovereigns - Up to £298.47.
- Buy Gold Sovereign Coins Online. Money Metals Exchange is pleased to offer British Sovereigns gold bullion coins- one of the least expensive ways to buy fractional sized quality gold bullion coins. Gold British Sovereigns are one of the most recognized gold bullion coins around the world. The first of these sovereign gold coins were minted in.
- The Gold Sovereign coin was first produced in 1817 and is a gold coin of the United Kingdom. The gold Sovereign coin has a nominal value of one pound sterling. Struck in 22 carat gold this popular British coin retains its ‘legal tender’ status and therefore benefits from being exempt from Capital Gains Tax, making this coin very popular.
- The Gold Sovereign coin was first produced in 1817 and is a gold coin of the United Kingdom. The gold Sovereign coin has a nominal value of one pound sterling. Struck in 22 carat gold this.
Check Your Gold Sovereign Collection
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If you own gold sovereigns, you might be tempted to sell them for good reason. Though these coins are quite beautiful, they are also worth decent money. Gold sovereigns have a nominal value of a single pound sterling throughout the United Kingdom. Gold sovereigns are currently relied upon as bullion coins and are also used for jewellery.
If you are looking to make some quick money, don’t let those old gold sovereigns collect dust in a storage compartment in your closet. This is especially true for owners of the more valuable sovereigns. In particular, the British Edward VIII sovereign is worth quite the tidy sum of money. These coins are available in very limited quantities as production was shut off once Edward VIII relinquished his position on the throne.
If your family has held onto gold sovereigns for decades or longer, it is worth taking a look at your collection just in case you happen to have one of these ultra-rare pieces. A British Edward VIII sold a few years ago for over £500,000. Even if you don’t have a highly-coveted gold sovereign, you can still sell your sovereigns to Gold Smart for good money.
Gold Sovereign History
Gold sovereign minting was in full gear up until a government-issued shut down in 1604. Production later resumed in 1817. The Coin Act of 1816 dictated exactly how much gold could be used in gold sovereigns. About 113 grains of gold were permitted to be used in each gold sovereign. Gold sovereigns were minted according to this standard for the next century until being halted once again in 1817. Minting resumed in 1925, was halted yet again and production later resumed in 1957.
Gold sovereigns have been minted from this point on forward without interruption. Though gold sovereigns have been minted in countries like Australia, South Africa, and Canada, modern-day minting is strictly limited to the Llantrisant, Wales Royal Mint. The gold sovereigns produced at this mint are generated in a special precious metal space that is completely sealed off from the other portions of the facility.
Part of the British government’s motivation for resuming the production of gold sovereigns in 1957 was to combat counterfeiting operations in Italy and Syria. There was also concern that the coin would lose its reputation unless minting resumed. Many still used gold sovereigns to make payments at this point in history.
It was quite common to rely on these coins as a form of payment for services provided by the government. It is worth noting that the date on these coins is a reference to the year its die was created. This means the date on your gold sovereigns is not an accurate indication of the year in which it was struck. The Mint has also been known to strike these coins with a previous year’s date or even with the date of the upcoming year.
Aside from regular gold sovereigns, half sovereigns were also been struck for circulation purposes. Though two-pound double sovereigns, five-pound quintuple sovereigns, and ten-shilling half sovereigns were also struck, they were never dispersed into circulation. The sovereign series received a new coin in 2009 when The Royal Mint issued a quarter-sovereign piece.
Gold Sovereign Nuances
Gold sovereigns weigh 7.988052 grams. They have a girth of 1.52 mm, a diameter of 22.05 mm, and a 22-carat fineness. Gold sovereigns’ Crown gold alloy (1/12 copper and 11/12 gold) is exactly the same as that used in the initial sovereigns produced in 1817. Alloy is relied upon to provide these gold coins with the rigidity required to guard against denting and scratching that occurs amidst their handling. The gold content of these coins is exactly 7.322381 grams.
In terms of design, the gold sovereign initially featured a shield, a crown, and a heraldic wreath. The design later shifted to a Benedetto Pistrucci rendering of Saint George slaying a dragon. This portrayal is still displayed on British gold sovereigns. However, additional designs were displayed on the coins during the ruling periods of Queen Elizabeth II, King William IV, and several other monarchs.
It is also interesting to note that gold sovereigns typically have a high premium to the value of gold compared to many other bullion coins. There are several reasons why this high premium exists. Firstly, the unit cost of the Sovereign is higher than gold bullion coins like the Krugerrand. Each gold sovereign has a unit cost of less than one-quarter of an ounce. There is also a strong demand for gold sovereigns amongst coin collectors. Add in the costs involved with pinpointing and maintaining such a numismatic coin and it is easy to see why the gold sovereign has such a premium.
Gold Smart Wants Your Gold Sovereigns
If you own gold sovereigns or gold of any other sort, we would like to make you a fair offer. Even if you don’t have a British Edward VIII gold sovereign, we are still interested in your collection! Gold Smart is also interested in your silver, platinum, and other precious metals. You won’t find prices better than ours. Reach out to us today for a free quote.
The definitive guide to selling gold sovereigns and coins
Sovereigns are attractive coins with an interesting history which form a key part of the UK’s heritage and tradition.
In recent years, these collectable items have often been used in jewellery or given as gifts for special occasions like weddings and christenings.
Rare or proof sovereigns are highly sought after by serious coin collectors, but even lower-grade coins can command a premium price.
If you’ve got a gold sovereign to sell, this guide will help you understand the best time, place and way to sell them.
What is a sovereign?
The term Sovereign is used to describe a gold coin of the United Kingdom weighing 7.98805 grams. Struck from 1817 to the present day, they usually have a nominal value in sterling but are worth much more as bullion or to collectors.
How much gold is in a UK sovereign?
When buying or selling sovereigns, it’s important to know how much pure gold each coin contains as this will determined its bullion price.
Often made from 22ct gold, they are around 91.66% in fineness – containing around 7.315 grams of pure gold (0.2353544 troy ounces) per coin.
What is a bullion sovereign?
Bullion Sovereign is a term used to describe a sovereign which is bought and sold purely based on the value of its gold content.
Gold investors often prefer to buy bullion sovereigns rather than pay the ‘spot’ price for one ounce of gold.
What is a spot price?
The ‘spot’ price of gold is a reference to the worth of one ounce as it could be bought or sold right now.
It is only usually Bullion Sovereigns which are traded in relation to this price. Newly-minted sovereigns or secondary market sovereigns fall into this lower-premium category.
How much is the scrap value of a sovereign?
In 2019, the average selling price that we would buy your sovereign for at Warwick & Warwick was between £180 to £200.
Sovereigns are often traded using the term ‘spot’ or ‘scrap’ value. But this does NOT mean they will be melted down. Indian dreaming pokies.
For anyone who is buying sovereigns solely for investing, the condition of the coin is very important, NOT the weight of the gold.
Typical UK gold coin values
Although the worth of a gold sovereign should be judged on its own merits, there are a number of other popular coins which are traded frequently.
Britannia Sovereigns: £100, £50, £25 and £10 gold proof sets are we regularly purchase them for between £1,400 and £1,600.
The 1989 Gold Proof Sovereign: In 1989, the Royal Mint struck a unique design to commemorate the 500th Anniversary of the first gold Sovereign, based on a design similar to the first gold sovereign issued in 1489.
It was struck in denominations of £5, £2, sovereign and half sovereign. This design is the rarest of the modern sovereigns and a single boxed proof sovereign sold in our auction on 17 April 2019 for £800.
Half Sovereigns: This 22ct gold coin contains 3.66g of fine gold and we frequently sell these for between £90 and £100.
Guineas: Guineas vary widely in price, with modern ones fetching anything from £500 to £1,700.
Buffalo gold slot machine. Guineas from pre-1817 are worth far more – as proven by our recent auction prices.
In February 2019, an extremely rare 1701 fine work five guineas coin (pictured above) sold for a whopping £42,000 at our specialist coin auction.
Earlier in the sale, we had already achieved a successful £14,400 bid for the sale of a first bust, five guineas milled coin from 1678/7 (pictured above).
At an auction in April 2019, we also achieved £4,920 for this 1745 guinea (pictured above) and £2,520 for an 1817 sovereign (pictured below).
Other common gold coins from around the world include:
Philharmoniker £100, £50, £25 and £10: Struck by the Austrian Mint, these vary in price widely.
Eagle £20: Produced by the United States from 1850, the 1oz gold Eagle coin could be worth upwards of £900 at auction – and much more for the earliest issues.
Maple dollars: A Canadian coin minted from 24ct gold and available in various denominations ($50, $20, $10, $5 and $2), it may be worth upwards of £1,000 at auction.
Nugget Sovereigns: A traditional Australian sovereign with a pure gold content of 31g which can fetch around £1,000.
1920 King George sovereign: An exceptionally rare Australian coin which was worth £780,000 back in 2012.
Krugerrands: Minted since 1967, this South African sovereign (pictured below) is arguably the most popular 1oz bullion gold coin in the world, offering great value for upwards of £900 at auction.
Do I have to pay tax when selling sovereigns?
Sovereigns continue to remain popular with investors because they frequently go up in value.
Another advantage about investing in gold sovereigns is that those produced after 1837 are EXEMPT from Capital Gains Tax (CGT) with HMRC.
This is because all UK sovereigns minted since this date are classified as currency – meaning they’re not chargeable assets and will NOT be subject to CGT.
CGT is the tax you pay on any profit you make when an item is sold. So, if you bought an item for £500 and sold it for £1200, the CGT would be paid on the £700 profit you made from the sale. But because gold sovereigns are exempt, you don’t have to pay CGT.
The same rule applies for Britannia gold coins. However, Krugerrands and the other worldwide sovereigns listed above may be subject to CGT because they’re not UK currency.
Where can I sell my gold sovereign?
Before you sell any gold sovereigns, it’s worth considering which avenue will help you achieve the best realisation.
eBay and online auction sites
Price Of Gold Sovereigns To Sell Shares
Give you access to a global audience, but buyers are reluctant to pay a premium for an item they cannot inspect.
Coin dealers & shops
If you know the sovereign is collectable, you may receive an offer above the bullion price. Great for securing a quick sale, but they’ll only pay a wholesale or discounted price so they can sell your sovereigns for a profit.
Auction houses
Even after commissions, selling your coins at auction can offer a better return because it lets you get closer to the ‘retail’ price.
At Warwick & Warwick, we have an extensive database of numismatists and coin collectors from around the world who are interested in the rarest items.
Private Treaty Sale
Removes the uncertainty of the auction room and achieves a good price - based upon a fair and accurate current market valuation - which is not subject to any commissions. Visit our Private Treaty Sales page to find out more!
Selling sovereigns to Warwick & Warwick
A sovereign’s worth should NOT be dictated by its gold ‘bullion’ value alone.
Collectors obviously prefer sovereigns to be in ‘mint’ condition rather than ‘worn’ because it boosts the coin’s rarity value.
As a general rule of thumb, the better the condition, the more a sovereign will usually be worth.
Consequently, sovereigns which have been mounted in jewellery are often a lesser quality and are NOT usually suitable for coin collectors.
We still buy lower grade sovereigns and gold coins like this via Private Treaty, but they command a far lower price.
To make the valuation process easy and transparent, we provide professional, impartial advice with no obligation to sell.
When calculating the value of any sovereign, our experts always consider:
- Condition – bullion, brilliant uncirculated, proof issue etc
- Year of mintage
- Mint mark
- Minting errors
- Today’s bullion value
Price Of Gold Sovereigns To Sell Silver Bars
If you’re selling gold sovereigns and need independent advice, our experts can give you a 100% accurate valuation.
To discover how much your item or collection could be worth, please get in touch or call 01926 499031 for an informal discussion.