Gold Sovereign Coin (7.32 g)

The Gold Sovereign is the best known bullion coin in Britain. It is struck by The Royal Mint in 22 carat gold, it carries Benedetto Pistrucci’s St George and the Dragon on the reverse, and it is UK legal tender. On this page we compare live offers from UK dealers so you can see which one sells the coin closest to the gold price.

Not sure whether the Sovereign suits you better than a one ounce coin? Read on: we cover the specifications, what to check before you buy and how the coin is treated for tax in the UK.

Gold Sovereign specifications

The modern Sovereign dates from 1817 and its size and gold content have stayed the same for generations. Here is what you get in one coin:

• Fine gold content: 7.32 g, which is about 0.235 troy ounces.
• Fineness: 916.7, the traditional 22 carat standard.
• Diameter: 22.05 mm.
• Face value: one pound.
• Mint: The Royal Mint, United Kingdom.
• Design: St George slaying the dragon on the reverse and the reigning monarch on the obverse.

Because the coin is 22 carat, the rest of the alloy is mostly copper. That makes the Sovereign harder wearing than a pure gold coin, which is one reason so many older coins still trade in good condition.

Who is the Sovereign for?

The Sovereign sits between small gold bars and one ounce coins. It suits you if:

• You buy in small steps: one coin is roughly a quarter of an ounce, so you can add to your holding month by month.
• You want flexibility when selling: you can sell a single coin instead of a whole ounce.
• You value recognition: UK dealers know the coin well and most of them buy it back.
• You care about tax: as legal tender it is exempt from Capital Gains Tax for UK individuals.

Prefer fewer coins with a lower premium per gram? Compare it with the 1 oz Britannia Gold Coin, which is also struck by The Royal Mint and also free of Capital Gains Tax.

What to check before you buy

How much are you really paying above the gold price? A smaller coin usually carries a higher premium per gram than a one ounce coin, so the dealer you choose matters more.

• Premium over spot: compare the offer with the value of 7.32 g of fine gold. Our gold price per gram chart helps you do the sums.
• Year and condition: “best value” or mixed year Sovereigns are usually the cheapest option. Specific dates, proof coins and graded coins are priced as collectibles.
• Shipping and insurance: check the delivery cost and the free shipping threshold before you compare final prices.
• Buyback: look at what the same dealer pays when you sell. The gap between buying and selling is your real cost.
• Authenticity: buy from established dealers and learn the basic checks in our guide on how to spot fake coins.

VAT and Capital Gains Tax in the UK

Investment gold, including the Sovereign, is exempt from VAT in the UK for private buyers. The Royal Mint also points out that the coin is exempt from Capital Gains Tax because it is legal tender. Gold bars and most foreign coins do not get this treatment, which is a big reason why British buyers favour Sovereigns and Britannias. Your own situation may differ, so check with a tax adviser if you hold a large amount.

Sovereign or other gold coins?

Here is a quick way to choose:

• Choose the Sovereign if: you want a small, CGT free coin that is easy to sell one at a time.
• Choose a one ounce coin if: you want the lowest premium per gram and do not need to split your holding.
• Choose a gold bar if: you only care about the cost per gram and CGT does not apply to you.

You can see every gold coin we track on the gold coins page, or read our guide to gold bars vs gold coins.