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A short history of British gold
Nearly eight hundred years of gold coinage, from a coin nobody wanted to the most recognised bullion piece in the world.
British gold has an unusually continuous story. The sovereign has been struck under nine monarchs on the same reverse design since 1817, which is why a Victorian coin and one struck last year sit comfortably in the same collection.
For collectors that continuity matters. A sovereign is a sovereign whether it was struck in London in 1899 or Melbourne in 1891, and the differences that do exist, the portrait, the mint mark, the condition, are exactly what makes them worth collecting.
Where to begin
Most people start with a full sovereign, either a modern uncirculated example or a Victorian piece in extremely fine condition. From there collections tend to go one of two ways, either completing a run of portraits and mint marks, or moving into low mintage proofs where condition and rarity drive everything.
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The gold penny
Henry III strikes England's first gold coin since the Anglo Saxon period. It is undervalued against silver and quickly disappears.
1489
The first sovereign
Henry VII orders a large gold coin of twenty shillings showing the king enthroned. The name sovereign is used for the first time.
1663
The guinea
Gold from the Guinea coast is struck into a new coin bearing the elephant mark of the Royal African Company.
1817
The modern sovereign
The Great Recoinage introduces the sovereign as we know it, with Benedetto Pistrucci's Saint George and the dragon on the reverse.
1887
Branch mints
Sovereigns are struck across the Empire at Sydney, Melbourne, Perth, Ottawa, Bombay and Pretoria, each with its own mint mark.
1917
Gold leaves circulation
Britain suspends the gold standard for the duration of the First World War and sovereigns stop circulating at home.
1957
The sovereign returns
Production restarts at Tower Hill to meet international demand and to counter forgeries being struck abroad.
1987
The Britannia
The Royal Mint launches Britannia as Britain's answer to the Krugerrand and Maple Leaf, later moving to 999.9 fine gold.
2020
Great Engravers
The Three Graces revives William Wyon's 1817 pattern and begins a series that reintroduces historic dies to modern collectors.