Gold Sovereign: specifications, value and where to buy

The Sovereign has been around in its modern form since 1817, and its St George and dragon reverse has barely changed in that time. For UK buyers it has one big advantage over most bullion: it is legal tender sterling, so gains are free of Capital Gains Tax. For buyers elsewhere it is a well-known, easy-to-sell coin with a small gold content and a matching price. Below are the official specifications, the live value, what four UK dealers charged and how each country taxes it.

What are the Sovereign's specifications?

Sources: Royal Mint product pages. The Royal Mint rounds the gold content to 0.235 oz; 7.3224 g is the standard fine weight used in our price checks.

The name goes back to 1489, when Henry VII first struck a gold Sovereign. The coin you buy today descends from the 1817 revival, a 20-shilling piece that became the backbone of British gold coinage. In some years the Royal Mint varies the reverse for anniversaries, but bullion Sovereigns normally carry Pistrucci's design. Because the coin is small, it suits people who want to buy or sell gold in modest amounts.

What is a gold Sovereign worth today?

The melt value is what the gold inside is worth at the live spot price, the wholesale market price for gold.

Spot-based melt values, not dealer prices. Last updated: Loading. Try the coin melt value calculator for other quantities.

What premiums did we find at UK dealers?

A premium is the extra you pay above melt value. Our automated GoldVetted price check on 10 October 2026 (21:13 to 21:15 BST) read the single-coin price on each product page, using the cheapest payment method shown. Spot was £3,171.03 per ounce, so the gold in one Sovereign was worth about £746.53. The market was closed for the weekend, so prices were static.

BullionByPost product pages blocked our automated check, so we do not publish a premium for it. Updated figures: premium tracker.

The gap between cheapest and dearest was almost £40 per coin, enough to matter on a tube of 25. Buying direct from the Royal Mint was the most expensive route that evening. Selling back costs money too: Hatton Garden Metals' buyback price was £720.90, 3.43% below the spot value of the gold. So a coin bought for £777.47 needed gold to rise by roughly 8% before you broke even on resale to that dealer. Compare this with a 1 oz Britannia, which cost 2.8% to 7.1% over spot at the same dealers, in our gold coins vs gold bars guide.

How are Sovereigns taxed in the UK, US, Canada and Australia?

The UK position is the reason Sovereigns sell so well there. HMRC's Capital Gains Manual says Sovereigns minted in 1837 or later are currency and exempt "like all sterling currency". A Sovereign from before 1837 is not legal tender, so it is treated as a chattel (a personal possession) instead. Our page on UK gold tax rules (CGT-free coins) covers the detail and how this compares with gold bars. Outside the UK, the 22-carat alloy is a drawback: Canada and Australia only exempt gold of 99.5% purity or more from sales tax.

Can you hold Sovereigns in a US gold IRA?

No. Under 26 US Code 408(m), an IRA that buys a coin is treated as making a taxable distribution unless the coin is one of the US coins named in the law, or bullion at least as fine as a regulated futures contract requires. For COMEX gold that is 99.5%. The Sovereign is 91.67%, so it fails. US investors wanting a 22-carat IRA coin use the American Gold Eagle.

Where can you buy gold Sovereigns?

In the UK, Sovereigns are stocked by the Royal Mint itself and by online dealers including Chards, Hatton Garden Metals, Atkinsons Bullion and BullionByPost. Mixed-year or "best value" listings are usually cheaper than the current year, and the gold content is identical. Outside the UK, dealers that carry world bullion coins often list Sovereigns, but import costs and local sales tax can make them less competitive there.

See Sovereign prices at Chards

How do you spot a fake Sovereign?

The Sovereign is one of the most copied gold coins, because it has been made for so long and in so many places.

• Weight and size: 7.98 g and 22.05 mm. A jeweller's scale reading to 0.01 g and callipers catch most fakes.
• Check the date and monarch. Many fakes carry a date that pairs the wrong portrait with the year, or a branch mint mark for a year that mint did not strike. Check against a reference before paying a premium for an older coin.
• Colour: 22-carat gold with copper has a warm, slightly reddish yellow tone. A very pale or very bright coin needs a second look.
• Detail and edge: St George's horse, the dragon and the milled edge should be crisp and even. Soft or blurred detail suggests a casting.
• Seller: buy from established dealers; most fakes are sold privately or online.

More tests: how to tell if gold is real.

Which years and variants of the Sovereign exist?

Branch mint dates are a good example of where bullion and collecting overlap. The Royal Mint records that Pretoria struck more than 18 million Sovereigns in 1928 alone, so common South African dates trade close to gold value. Proofs are priced for collectors and seldom resell for their full premium; read bullion vs numismatic coins first.

Pros and cons of the gold Sovereign

For other first-time options, see our best gold coins for beginners or browse all gold coin guides.

Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.