Half Sovereign Value

The Half Sovereign is a 22 carat coin containing 3.66g of fine gold, with a face value of half a pound.
This value is based on the fact that, like all denominations of Sovereign, they are legal tender. However,
as an uncirculated bullion coin, the Half Sovereign’s gold content makes it worth considerably more
than its face value.

The real value of a Half Sovereign is calculated by multiplying its pure gold content by the current
gold spot price. For example, at the time of writing, the gold spot price is around £51 per gram so a
Half Sovereign would be worth around £186.

The design on the Half Sovereign is the same as the full version. The reverse is decorated by Benedetto
Pistrucci’s iconic St George and the dragon, while the obverse side features the head of the reigning
monarch at the time that the coin was made.

The mintage history of Half Sovereigns is much more disjointed than that of the full version. They were
first introduced under Henry VII in 1544 but only lasted 60 years before they were discontinued in 1604.
Production of the coin resumed in 1817 under George III when British coinage underwent major revision.
They were discontinued once again in 1926, being issued on only a few specific occasions before
production resumed as proof coins in 1982 under Queen Elizabeth II. As of 2000 the Half Sovereign has
been minted every year as an uncirculated bullion coin. They can therefore sometimes be more difficult
to find than full Sovereigns, especially certain older coins. Some of the rarest include the 1854 and 1871
Queen Victoria shield back coins, the 1893 Victoria ‘Old Head’, and the 1953 Elizabeth II Sovereign.

BullionByPost stocks a wide range of British Half Sovereigns, featuring the heads of several different
monarchs including Victoria, George V, Edward VII, Elizabeth II, to the latest King Charles III Half Sovereigns.

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How much is a Half Sovereign worth?

Half Sovereigns issued after 1837 make excellent investment coins as their dual status as gold bullion and British legal tender makes them exempt from both VAT and Capital Gains Tax. This means that you won’t be taxed on any profit you might make when you decide to sell your coins.

Most Half Sovereigns are worth only their metal value. As mentioned above this can be calculated using the spot price and the amount of gold in the coin - 3.66 grams. Most dealers will then offer a price just under this value to cover testing the coin. You can view our value for a Half Sovereign live at all times.

As with any gold coin however, there are examples of gold Half Sovereigns that are worth more than normal. Rare years, examples from unusual mints, Proof coins, the Half Sovereign has examples of all of these, and collectors do enjoy them. When there is a combination of features for a particularly unique coin then a Half Sovereign can sometimes be worth over £1,000!

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Investing in Half Sovereigns

Although they are a very tax efficient investment, Half Sovereigns do tend to have higher premiums than some other gold coins. The fact that they are physically smaller units and are minted in smaller numbers means that they incur much higher production costs than their larger variations. With the gold price rising however, and the increasing popularity of the Half Sovereign these premiums are slowly coming down.

When buying Half Sovereigns, then, it is better to buy them in large quantities as this will reduce the premium per unit. Buying a large number of smaller units also gives you the benefit of additional flexibility when it comes to selling your coins. While it is impossible to sell half and keep half of your 1kg bar, for example, selling half of your coin portfolio is a very straightforward process. They are therefore an ideal choice for those looking for a flexible and tax efficient investment.