| One of the most widely circulated and famous | | | | These tend to have a mint mark to distinguish |
| gold coins is the English gold Sovereign. | | | | them (e.g. the letter "M" for the Melbourne mint). |
| Besides being a modern day bullion coin it oozes a | | | | English Gold Sovereigns were produced in vast |
| long and rich history. | | | | numbers until World War I- when the British |
| The first English gold sovereigns were minted in | | | | pound was removed from the gold standard. |
| 1489 by King Henry VII of England- with a | | | | Gold Sovereigns were frequently re-coined by the |
| nominal value of one pound sterling or 20 shillings. | | | | Royal Mint. For this reason, the old gold coins |
| The original gold sovereigns were 23 carat gold | | | | often have extraordinary collectible value because |
| but the fineness was subsequently reduced to 22 | | | | of their rarity. |
| carat which is now referred to as "crown gold". | | | | In contrast to the older sovereigns, the newer |
| This "Crown Gold" standard is still used today in | | | | bullion sovereigns are popular among gold |
| coins like the Krugerrand. Its additional hardness | | | | investors. |
| makes the coins more durable. | | | | Since the millennium, English gold Sovereigns have |
| The older English sovereigns are highly prized | | | | been minted as bullion coins- i.e. coins whose value |
| amongst coin collectors. Some of them are now | | | | depends mainly on their weight in gold, and not on |
| distinctly rare, with only a handful existing of | | | | their numismatic (coin collecting) value. |
| certain dates & mintmarks. | | | | The value of a bullion sovereign is determined by |
| In addition to the "Regular Sovereign", The Royal | | | | the current market price of gold content plus a |
| Mint has also produced half sovereigns and double | | | | small premium -called the "coin premium" (usually |
| sovereigns. These have a nominal value of 10 | | | | up to 7% above the spot price of the metal). |
| shillings and 40 shillings respectively. As well these, | | | | English gold sovereigns are immensely popular |
| the series is completed with the fabulous 5 Pound | | | | amongst coin collectors and gold investors. |
| Piece -which weighs the same as 5 single | | | | If you are dipping your toe in the gold market, |
| sovereigns. | | | | they are a fascinating place to begin. |
| During the 19th Century, branch mints sprang up | | | | Till next time, |
| in Australia, India & Canada which also produced | | | | Happy gold coin collecting! |
| this coin. | | | | |