The esteemed sovereign coin is a highly sought after item with a rich history dating back to 1489 during the reign of King Henry VII. These coins, initially made from 23 carat gold and weighing 15.55 grams, carried a face value of 1 pound sterling and were produced until 1604. In 1817, the production of sovereign coins was resumed, featuring the same face value but a different weight and gold content of 7.9881 grams and 22 carats. The demand for these coins was so great that multiple mints were established across the Commonwealth to meet the demand, including those in Australia, Canada, India, South Africa, and the United Kingdom, with branch mints located in Sydney, Melbourne, and Perth.
Sovereign coin collectors are known to pay premium prices for coins with different mintmarks, and these coins are available in a range of sizes including 5 pounds, 2 pounds, half sovereign, and quarter sovereign. Over the years, sovereign coins have been minted under the reign of various monarchs, with the most being produced during the reign of Queen Victoria and thereafter. The obverse design of these coins has undergone numerous variations, with Queen Victoria having three and Queen Elizabeth having six.
The reverse design of the sovereign coin has also undergone numerous changes, including the depiction of St George and the dragon with a garter, an enlarged version of this design, and commemorative designs for the 500th anniversary of the sovereign in 1989, the Golden Jubilee in 2002, the Diamond Jubilee in 2012, and the Platinum Jubilee in 2022. In addition to being popular with collectors, these coins are highly sought after by investors due to their liquidity and tax benefits. As gold coins, they are not subject to VAT and, as legal tender, they are exempt from Capital Gains Tax, making them an attractive investment option.
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