What is British Sovereign?

Gold coin of the United Kingdom with the nominal value of one pound sterling. Still presently being minted. Was circulated in the Common Wealth and internationally as tender until the 1980s. Now is considered bullion coin and is sometimes mounted as jewelry.

The coin received its name from the English gold sovereign and was produced as part of what is known as the Great Recoinage in British history. During the 17th century, the hand minted silver coins that were widely used in England, were in terrible condition. Many of the coins were so badly chipped that they no longer held value. The government, led by King William III, attempted to replace all the damaged hand struck silver coins with new full-weight precious metal coins. In 1816, Master of the Mint William Wellesley Pole commissioned Italian coin engraver Benedetto Pistrucci to produce designs for new coins, including the Sovereign. It is commonly believed that Pole promised Pistrucci the position of Chief Engraver for the Engish Mint, but the position could only be held by a British citizen.

The British Sovereign was initially unpopular with the British public, who liked using banknotes. The British government limited the use of any paper currency valued at 1 pound to eliminate competition with the sovereign. Though the design of the rear of the coin has evolved, Pistrucci’s original design for the Sovereign displays a cloaked but minimally armored St. George on horseback mid-battle with a dragon. On the front, there is generally a depiction of the reigning British monarch.

The British Sovereign is still in circulation and is minted with approximately 0.2354 troy ounces of gold. As with any precious metal coin, the value of the gold content represents a stable investment. Also, the British Sovereign is one of the most recognizable gold coins in the world.

What people ask…

How much gold is in a British sovereign?
How much is an British sovereign?
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See Also…

Coin, Bullion, Numismatic, Government Mint

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