The UK value of gold Sovereigns is always fluctuating, just like other gold coins. To calculate the actual amount you could get if you sold your Sovereign, we have to consider a few things. These include the size, year and weight of the coin, alongside the current spot price of gold and a few other factors.
Today we’re going to be breaking down the value of gold Sovereigns in the UK, alongside all the contributing factors. If you’re looking to find out how much your Sovereign is worth, you’ve come to the right place.
What is a Gold Sovereign’s Face Value?
At face value, a gold Sovereign is worth £1. However, this is not the actual value of the coin. This worth is based on previous currency values. Due to inflation and policy changes, the circulatory value of a Sovereign remains at £1. But as an uncirculated bullion coin, it’s worth is determined by its gold content, which is significantly higher.
How to Calculate the Value of a Gold Sovereign
You can calculate the bullion value of a gold Sovereign like so:
7.31 x Price per gram of the prevailing gold price
0.2354 x Price per troy ounce of the prevailing gold price
Here’s some examples.
At the time of writing this article, pure gold is trading at around £1357.47 / troy ounce. This translates to €1590.34 and $1797.22.
Now we need to convert troy ounces to grams. As 31.103 grams make up a troy ounce, we’ll divide this figure by 31.103. This results in a value of £43.64 per gram of gold. (€51.16 / $57.78)
A gold Sovereign should weigh around 7.98g and contain 91.67% pure gold, being minted in 22ct gold. This results in a mass of 7.31g of gold. The gold value in a full sovereign can be anywhere between £250 and £300 depending on the gold rate at the time, however certain sovereigns from years where very few were minted can fetch up to £1200 depending on condition.
Other Types of Sovereigns
Gold Sovereigns come in multiple sizes including quintuple, double, full, half and quarter Sovereigns. Each of these will be worth different amounts based on the gold content within each coin. Here is a breakdown on the face value and pure gold content of each type:
|Sovereign Size||Face Value||Pure Gold Content|
Based on these figures, we can calculate the bullion price of all these types of Sovereign.
Looking to Sell your Gold Sovereign?
Here we are referring to the bullion value of the Sovereign, meaning the value of its gold content. Here at Cash4Gold-Now we pay cash directly to your bank for gold, so if you are looking to sell your gold Sovereigns online, look no further. Simply request your free gold selling pack today, and have money in the bank within 24 hours of accepting our offer.
Numismatic Value of a Sovereign
Sovereigns also have a numismatic value. This refers to the value of the coin as a collector’s item. This value is dependent on the following factors:
- The year the coin was minted
- Which branch mint produced it
- The total number of gold Sovereigns produced at that mint in the same year
- The total number of the same gold Sovereigns
- Whether the coin was a proof issue or not
- The condition of the coin
Different Designs and Monarch Heads
The gold Sovereign was first introduced in 1489 under the reign of King Henry VII. From then until now, many monarchs have had their likenesses featured on the Sovereign. Coins that feature certain monarchs are worth more than others.
If you have an early Sovereign from the eras of George III and William IV, this could be worth more than many other kinds. This is because all coins minted before the Victorian era had been recalled in 1891. This means that coins from before this period are very rare, and therefore worth more.
Perhaps one of the most famous designs is the St. George and Dragon, designed by Benedetto Pistrucci in 1817. Another example of a famous design is the 1989 500th anniversary of the coin. This kind features a portrait of Queen Elizabeth II on her throne, with the reverse design featuring the royal coat of arms.
Mint Marks & Errors
There are also a few other factors affecting the numismatic value of a Sovereign. Mint marks are a very small single letter found on the coin, with a different letter corresponding to a particular branch of the Royal Mint.
Particular mint dates are in higher demand by collectors, which boosts their value. If your coin features a mint mark from Australia, Canada, South Africa or India, it’s likely it is worth a little more than a standard British mint.
Some Sovereigns also feature errors with their strike. Due to an increase in demand in the 1840’s, quality control in the production of these coins struggled to keep up. This resulted in errors on the coin itself. These Sovereigns are usually worth significantly more than their non-errored counterparts.
If you are in possession of a gold Sovereign, we can help you gain an accurate valuation of it. Based in Hatton Gardens London, Cash4Gold-Now’s expert valuers have over 50 years of combined experience with valuing gold. Feel free to contact our team to find out how much your gold coins are worth, or read our valuation process for more information.