Rare British Gold Sovereign: The Story of a Unique George VI Coin

Introducing the Gold Sovereign

Among the many collectible coins, the British gold sovereign holds a special place. This coin is known worldwide, but some examples stand out even among their peers. One such coin is the 1937 gold sovereign, minted during the reign of King George VI.

This coin is not a standard issue. It has a number of unique characteristics that make it a true rarity and a source of pride for any numismatist. Its history and features deserve special attention.

A Brief History of the British Sovereign

The history of the gold sovereign spans more than five centuries. The minting of these coins first began in the late 15th century, during the reign of Henry VII, but their original appearance differed from the modern one.

The familiar and recognizable design appeared much later. About two centuries ago, during the reign of King George III, the famous image of St. George on horseback slaying a dragon appeared on the coin's reverse. This dynamic and powerful design was created by the engraver Benedetto Pistrucci and has since become the classic design for sovereigns.

A Brief History of the British Sovereign

The Sovereign as a Circulating and Investment Coin

For a long time, gold sovereigns were not just collector's items but fully-fledged circulating coins in wide use. They can be compared, for example, to the gold 10-ruble coins from the time of Nicholas II in the Russian Empire. The mintage of such coins was enormous, sometimes reaching tens of millions of pieces per year.

Today, the situation has changed. Modern gold sovereigns are mainly issued as investment coins. Their value is closely tied to the current price of gold on world markets, and they no longer hold the same numismatic and historical value as their rare predecessors.

The Sovereign as a Circulating and Investment Coin

Minting Outside of London

The production of sovereigns was not limited to the London mint. During the height of the British Empire, they were also minted in numerous colonies. Mints that produced sovereigns were located in India, Canada, Australia, and even South Africa.

Each mint placed its unique mark on the coin, which could be used to identify the place of minting. For example:

S - Sydney
SA - South Africa
P - Perth

This diversity makes collecting sovereigns even more fascinating, allowing one to collect coins from different years and different mints.

The Uniqueness of the 1937 Sovereign

The 1937 gold sovereign, issued under George VI, is exceptional for several reasons. These features make it one of the most desirable coins for collectors.

First Proof Quality. This was the first gold sovereign in history to be minted in the highest collector's Proof quality, which is characterized by a mirror-like field and a matte relief.

First Commemorative Issue. The coin became the first truly jubilee or commemorative sovereign. Its issue was dedicated to an important event—the coronation of King George VI.

The Only Issue of the Reign. This sovereign was the only one issued during the entire reign of George VI. After 1937, the minting of sovereigns was halted and only resumed many years later.

Mintage and Coin Specifications

Parameter	Value
Material	22-carat Gold
Weight	~8 g (7.98 g)
Mintage	5,501 pieces
Reverse Design	Classic "St. George and the Dragon"
Designer	Benedetto Pistrucci

The main factor determining the rarity of the 1937 sovereign is its extremely low mintage. A total of only 5,501 coins were minted. For comparison, the mintages of regular sovereigns were in the millions. The next issue of a Proof sovereign did not occur until the 1970s.

This exclusivity directly affects the coin's value. Its price on the numismatic market can reach several thousand pounds sterling. The main specifications of the coin are presented in the table.