How Do I Sell My Sovereign Coins?

Are you the proud owner of any Sovereign coins and looking to cash in on their value? Navigating the world of coin sales can feel daunting, but with the right approach, you can turn your Sovereigns into a rewarding financial opportunity.

^{A 1937 King George VI Sovereign Set}

^{Sold for £9,100}

It would be prudent to first understand the rich heritage of the Sovereign coin before deciding on the most suitable method of sale. Originally introduced in 1489 under the reign of Henry VII, the coin fell out of favour when James I occupied the throne. After the Napoleonic Wars, Britain’s financial reconstruction precipitated the Great Recoinage of 1816, and the following year the Sovereign re-emerged in the version we know today.

The Sovereign effectively replaced the gold Guinea at the time, used as common currency the value was 20 shillings to the pound, hence the nominal value of £1 for the full Sovereign. This fixed the value of the pound sterling to that of gold and the UK officially adopted a gold standard. When World War I broke in 1914, gold and silver coins were used by the government to fund war efforts and as such the Sovereign was gradually withdrawn from circulation and production, replaced with cheaper paper £1 notes.

^{A King George V Gold Sovereign Collection featuring a full set of King George V Sovereigns comprising 22 coins issued between 1911 and 1932}

^{Sold for £6,200}

While the Sovereign never returned to circulation in the UK, rising demand led the Royal Mint to eventually striking new Sovereigns in 1957, initially as a bullion coin, and from 1979 for collectors. Bullion refers to the value purely based on the gold and a full 22ct gold Sovereign contains approximately 7.315 grams (0.2353544 troy ounces) of pure gold. The full Sovereign, half Sovereign, double Sovereign, and quintuple Sovereign remain legal tender and are popular gifts for special occasions such as christenings, weddings and anniversaries. 

Rare, low mintage and proof Sovereigns are highly sought after by collectors across the globe, and condition will have a significant impact on the collectible value. The most significant and therefore coveted mints are:

• 1937 Edward VIII Sovereign
• 1819 George III Gold Sovereign
• 1993 Elizabeth II Gold Proof Sovereign
• 1879 Victoria Young Head St George Sovereign
• 1989 Elizabeth II Gold Proof Sovereign
• 1489 The First Sovereign
• 2004 Elizabeth II Gold Bullion Sovereign

^{The Royal Mint, The Sovereign 2017 Five Coin Gold Proof Set}

^{Sold for £4,300}

When selling Sovereign coins, there are an infinite number of options available, from online shops and dealers, to pawnbrokers, auction, and direct sale. It is necessary to thoroughly conduct due diligence; the weight, condition, year of mintage, mint mark, minting errors, and the bullion value at the time should all be considered when placing a value on a Sovereign coin. As one may imagine, pitfalls exist, and whichever method of sale you choose, we would always recommend talking with an expert Valuer, and our team at Dawsons would be delighted to help.

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Do you have any gold Sovereigns that you are considering selling?

With a global audience of over 10 million active bidders, Dawsons can secure a fantastic price.

Get in touch with an expert Valuer for confidential sales advice, we would be delighted to help you:

0207 431 9445 / info@dawsonsauctions.co.uk