Introduction to Gold Sovereigns
Gold Sovereigns were first introduced in 1489 for Henry VII of England, however the Guinea replaced them, but then in 1817 the gold Sovereign was reintroduced.The popularity of the gold sovereign was aided by the significant growth of the British Reign, with Victorian conquests in the 1800’s.
The result of this unprecedented expansion, the Gold Sovereign was readily available and used gold currency of the time within countries that were either under British Rule or allied to the British. In fact the coin was so popular that the London mint had to expand, giving way to growth of the Australian, South African, and Indian mints – all gold producing countries. The main mints included:
Gold Sovereign Weights, Purity and Gold Content
Since the 1817 revival, gold sovereigns have been struck in 916 gold or popularly referred to as 22ct or 91.6%.
Standard Gold Sovereign Specifications
- Gold Content in troy Ounces .2354
- Karat / Carat 22ct
- Weight in Ounces .2568
- Weight in Grams 7.9873
- Net Gold Weight in Grams 7.331
- Diameter in mm 22.05
- Thickness in mm 1.52
- Gold Fineness .916 2/3 (.9166)
Calculating the Gold Bullion Value of a Sovereign is done using the formula below:
Gold Price x 0.2354 (or 7.331gm) = Gold Bullion Value of a Sovereign