A full Sovereign holds about 0.2354 troy oz of pure gold, in a coin weighing 7.98 g at 22 carat. That small size matters for the premium.
Step 1: work out the metal value
Multiply the gold spot price per troy ounce by 0.2354. For example, if spot were £3,000 per ounce, a Sovereign’s gold would be worth about £706.
That spot price is only an example, not a current price. Use the live price or your dealer’s figure.
Step 2: compare with the price you were quoted
Investment gold is normally VAT-free in the UK, so the price you are quoted should have no VAT on it. The calculator treats a Sovereign as a small coin, so its limits are doubled: up to 6% over spot is good and up to 10% is fair. On the example above that means roughly £749 for a good price and £777 for a fair one.
Why not use the normal gold limit?
Making and selling a small coin costs about the same as a large one, but it holds less gold, so the cost per ounce is higher. That’s why the calculator widens the limits for small coins.
Half and quarter Sovereigns
They hold even less gold, about 0.118 oz and 0.059 oz, so their premiums are normally higher still. The calculator triples the limits for coins under 0.2 oz. Enter the pure gold weight in ounces to check one.
Dates and condition
Some older or rarer dates sell for more than their gold content, as collector coins. The calculator is meant for ordinary bullion dates, so a high premium on a collectable date doesn’t mean it’s overpriced.
Check a Sovereign priceGeneral information, not tax or financial advice. See the Gold Sovereign guide for more.
Not financial advice. See the terms.