The sovereign is a gold coin of the United Kingdom, with a nominal value of one pound sterling. Struck from 1817 until the present time, it was originally a circulating coin (see pre-decimal Sovereign) accepted in Britain and elsewhere in the world; it is now a bullion coin not intended for circulation, the intrinsic value of which is much higher than its face value. There are several denominations of the Sovereign: Five Sovereigns (Quintuple Sovereign, five pounds gold), Double Sovereign, Full Sovereign, Half Sovereign and Quarter Sovereign; the current sovereign - with face value of £1 is a continuation of the pre-decimal sovereign, and has been issued as a decimal coin since 1974.
Apart from the sovereigns of the United Kingdom, the British Overseas Territory of the Falkland Islands has also authorised some mints to issue sovereigns under its jurisdiction. These normally have the same specifications as the original, but there are also some - like the one eighth of a sovereign (one gram of gold) - that do not have an equivalent denomination in the United Kingdom. They are denominated in Falkland Islands Pounds - the local variation of the Pound Sterling; however, following long-standing tradition, sovereigns (and their multiple or fractions) have never had their value and denomination spelled out anywhere on the coin - they have to be inferred from its size. |
