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The sovereign is a British gold coin with a nominal value of one pound sterling (£1) and contains 0.2354 troy ounces (113.0 gr; 7.32 g) of pure gold.Struck since 1817, it was originally a circulating coin that was accepted in Britain and elsewhere in the world; it is now a bullion coin and is sometimes mounted in jewellery.
The Royal Mint realised there was a market for sovereign coins, and began to sell them to collectors at well over face or bullion value. [41] Beginning in 1980, five-pound gold coins were sold every year, except 1983, sometimes in a four-piece proof set with the half sovereign, sovereign and double sovereign, and sometimes sold individually.
When sovereigns were requested, it was usually for export causes. Gold used to produce sovereigns initially came from British Columbia or the Yukon. [2] Despite not being a denomination of the Canadian dollar, in 1911 a place for sovereigns was included in cases meant to hold specimen coins, produced by the Ottawa mint. [3] Sovereign with C ...
The Royal Mint realised there was a market for sovereign coins and began to sell them to collectors at well over face or bullion value. [69] In 1980, the first Elizabeth II half sovereigns available to the public were issued, in proof quality, and in 1982, the first half sovereigns sold as bullion coins.
They are kept as a store of value or an investment rather than used in day-to-day commerce. [ 1 ] Under United Kingdom law, a bullion coin may be marketed as a coin if it is minted after 1800, is at least 900 thousandths fine, and are (or have been) legal tender in their country of origin. [ 2 ]
Many pattern issues are retained by the Royal Mint Museum, with other surviving coins purchased by private collectors. [2] In 2020, an Edward VIII sovereign sold at auction for £1 million, the most for a British coin. [3] On 26 March 2021, a five pound gold coin sold at auction for $2,280,000, surpassing the previous record. [4]