Sovereign coins hold a fixed value which is determined against the current gold market spot prices. There are, however, mintages of this coin that are considered highly collectable; rarity often drives both interest and value among collectors. The rarest Sovereign coins are those that were minted in limited quantities or during specific moments in history. Here are eight of the rarest and most coveted examples.
“Coinage that never was”:
One notable example is the Edward VIII Sovereign 1937, which was never officially issued for circulation. Not only is it the rarest Sovereign, but one of the rarest coins in the world. After reigning only 325 days King Edward VIII announced his abdication from the throne on the 11th of December 1936, effectively cancelling the mintage of these coins which was due to start on the 1st of January 1937. Only a handful, six, of these trial and pattern coins are known to exist, making them highly sought after and very valuable. In 2020 The Royal Mint set a new UK coin record selling an Edward VIII Sovereign for £1 million.
The Original:
It should come as no surprise that the very first Sovereigns ever produced in 1489 would feature as one of the rarest, with only two coins assumed to be circulating outside of institutions. This coin forms a crucial role in numismatic history.
Trendsetter:
Another exceedingly rare coin is the 1819 George III Sovereign, which features a unique design and was minted in very small numbers. It is believed only about ten of these coins still exist.
Vanity:
The first gold Sovereigns struck during King George IV’s reign (1820 – 1830), featured the King’s classical style portrait designed by Pistrucci. The King disliked the portrait so much so, that in 1825 he insisted the designer to change it to depict a likeness based on a marble bust by Sir Francis Chantrey. Affronted, the artist refused, and William Wyon was tasked with the job. Wyon would later prove to be one of Britain’s finest coin designers in history. Due to the conflict with Pistrucci, a Shield of the Royal Arms designed by Jean Baptiste Merlen was introduced to replace the St George and the dragon. These Sovereigns were only minted in 1825 – 1830 and are of great importance to collectors.
The Victorian Era:
During Queen Victoria’s reign at least thirty territories used the Sovereign as currency – no other coin has ever influenced world trade to such an extent.
In 1879 during the Anglo-Zulu War in South Africa, the infamous Battle of Rorke’s Drift occurred. Just over 150 British soldiers successfully defended a mission station from thousands of Zulu warriors. Consequently the 1879 Queen Victoria Young Head St George Sovereign is highly coveted for its historic military significance as well as its low mintage.
The 1887 Queen Victoria Jubilee Head Sovereign is also considered rare due to its limited mintage compared to other years. This coin was created in celebration of Queen Victoria’s Golden Jubilee and featured a new portrait of Her Majesty with a small crown on top of her veil often referred to as the “Jubilee Head/Portrait”. It was replaced with a “veiled head” in 1893 making it one of the shortest-lived types of Sovereign. This 1887 coin is also significant to collectors for its “yellow gold” appearance. The new portrait had a fine level of detail, to ensure a high standard of production The Royal Mint replaced1.25% of the usual 8.3% of copper with silver to soften the gold. This addition enhanced the natural golden colour of the coins and subsequently examples from this year only, appear more yellow. Tests with the usual alloy composition later proved acceptable and silver was not added again. Accounting for less than 4% of all the “Jubilee Head” Sovereigns, this year was also the lowest mintage of all six years in production.
“War is Hell”:
1917 King George V gold Sovereign
Circulating gold coinage was a casualty of the First World War. By 1915 production on half Sovereigns had ceased, but full Sovereigns were still minted until 1917 and held in bank reserves. The British government issued bonds to raise funds for the war effort which were paid back in gold. In all likelihood many of these 1917 Sovereigns may have been used to settle War debts. The scarcity of this Sovereign makes it highly desirable.
1925 King George V gold Sovereign (The “Churchill” Sovereign)
In the aftermath of WWI there were calls for the UK to return to the gold standard. Under immense pressure, Winston Churchill eventually conceded and made the controversial decision to put Britain back on the Gold Standard in 1925. The move afforded The Bank of England the opportunity to clear their vaults of worn and damaged gold coinage, sending them to be melted down and restruck as the 1925 gold Sovereign. While these coins were never released into circulation, they remain the last ever British currency coins and as such significant to collectors.
