The British Sovereign Gold Bullion Coin has a rich history spanning over 500 years and remains one of the most iconic bullion coins globally.
History of the British Sovereign Gold Bullion Coin
The Sovereign was first minted in 1489 during the reign of King Henry VII. The coin’s design, featuring the King, led to its nickname “Sovereign,” a title it retains to this day. After production continued for several decades, the coin was discontinued in 1604 and remained absent for more than 200 years.
The modern Sovereign made its comeback in the early 1800s, but it wasn’t until 1871 that the reverse design, which remains in use today, was introduced. This reverse design, created by Benedetto Pistrucci, features the iconic image of St. George slaying the dragon.
Coin production was halted once again during World War I, although branch mints continued to strike Sovereigns until 1933. The coin was revived in 1957 and has been produced annually since, available in both bullion and proof forms. The bullion version returned in 2000 and has been struck every year since.
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The obverse of the modern Sovereign coins typically features the portrait of the reigning British monarch. For much of the 20th century and into the 21st, this has been Queen Elizabeth II. Her most recent portrait, created by Ian Rank-Broadley, appears on the obverse, along with the inscriptions: “ELIZABETH II,” “DEI GRA,” “REGINA,” and “FID DEF.” The reverse side of the coin showcases St. George and the dragon design by Pistrucci, with the year of mintage also indicated.
Each Sovereign coin is made from 22-karat gold, weighing 7.3224 grams. While it does not contain a full ounce of gold, unlike many other gold bullion coins, it remains highly popular among collectors and investors alike, who continue to purchase these coins in large numbers.