The gold sovereign is one of the oldest bullion coins still in production. The Royal Mint has struck it in its modern form since 1817, and today it is a common way for US buyers to own gold in a smaller unit than a full ounce. This page compares live offers from US dealers so you can see who sells a standard sovereign closest to its gold value.<\/p>\n
A sovereign is a British gold coin with a face value of one pound. It is legal tender in the United Kingdom, but nobody spends it: its gold is worth far more than the face value. Most sovereigns sold by US dealers are “any year” or “common date” coins, which means the dealer picks the date and the monarch on the obverse. The reverse usually shows Saint George slaying the dragon, the design by Benedetto Pistrucci.<\/p>\n
Key specifications:<\/p>\n
Because the coin is 22 carat, it is harder than pure gold and handles wear well. That is one reason so many older sovereigns are still in circulation among dealers.<\/p>\n
Why would an American buyer choose a British coin over a domestic one? A few reasons come up again and again:<\/p>\n
How much are you really paying above the gold inside the coin? The table on this page shows each dealer’s current price, and you can compare it with the gold price chart<\/a> or the gold price per gram<\/a>. A few practical points:<\/p>\n Sales tax on bullion depends on your state. Many states exempt gold coins, some exempt only orders above a set size, and a few charge full sales tax. Our page on precious metals sales tax<\/a> explains the main rules. When you sell, the IRS treats gold coins as collectibles, so long term gains can be taxed at a higher rate than stocks. Sovereigns are generally not accepted in a precious metals IRA, because IRA rules require higher fineness for gold coins, with the American Gold Eagle as the named exception. Ask your custodian before you buy for an IRA.<\/p>\n The closest alternatives are quarter ounce coins:<\/p>\n\n
Taxes on gold sovereigns in the US<\/h2>\n
Sovereign vs. other fractional gold coins<\/h2>\n
\n