GOLD SOVEREIGN COINS
History of the Gold Sovereign
The gold sovereign is an esteemed coin with a history dating back to the reign of King Henry VII in 1489. Initially made of 23 carat gold and weighing 15.55 grams, these coins had a face value of 1 pound sterling and were produced until 1604. In 1817, production of the sovereign coin resumed, featuring the same face value but a different weight and gold content of 7.9881 grams and 22 carats.
To meet the high demand for these coins, multiple mints were established throughout the Commonwealth, including those in Australia, Canada, India, South Africa, and the United Kingdom, with branch mints in Sydney, Melbourne, and Perth. The obverse design of the gold sovereign has undergone numerous variations over the years, with different monarchs having sovereigns minted during their reigns. The reverse design has also undergone numerous changes, including the depiction of St George and the dragon with a garter and commemorative designs for significant anniversaries.
In addition to being popular with collectors, gold sovereigns are also highly sought after by investors due to their liquidity and tax benefits. As gold coins, they are not subject to VAT and, as legal tender, they are exempt from Capital Gains Tax, making them an attractive investment option. The gold sovereign is a unique and fascinating coin with a rich history that continues to attract collectors and investors from around the world.
Source : Chards