Double Sovereign 1989 500th Anniversary, Coin from United Kingdom - detailed information

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.

In most recent years, it has borne on the reverse Benedetto Pistrucci's design of Saint George and the Dragon, created in 1817. Occasionally, the Royal Mint also releases one-year types with different designs, as a celebration for major events (usually Royal in nature).

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 double sovereign - with face value of £2 is a continuation of the pre-decimal double sovereign, and has been issued as a decimal coin since 1974.

The designs of all denominations are identical, as - according to tradition - this type of coin has never had its value and denomination spelled out anywhere on the coin. The various denominations are only distinguished by size and weight, these being exactly in proportion to their face value. Since 1817, the composition has always been 22 carat (91.67%) gold.

To commemorate the 500th anniversary of the first hammered gold sovereign coin issued by King Henry VII in 1489, the designs chosen for both sides of the 1989 gold coins reflect the designs originally used five centuries earlier. Very few coins or currencies can boast such lengthy service.

Those first gold sovereigns were the first pound coin, as they were issued with a value of one pound sterling. They were called a sovereign as they featured the "sovereign" (monarch) on the obverse. The coins represented the majestic power, wealth and prestige of Britain and were intended to be used as a symbol of Britain's importance, to impress the rest of Europe.

The obverse is reminiscent of the King Henry VII engraving of the sovereign on his throne. It features a majestic portrait of Queen Elizabeth II seated facing on a throne. The reverse bears a crowned shield within a Tudor double rose. The similar original sovereign designs continued in use through to Queen Elizabeth I over a century after their introduction. Some gold coins of King James I also used a similar obverse up until 1619.

The coins were issued in Proof FDC grade only.