1866 Sovereign Shield

Record Price: $114,835                             Manufacturer: Royal Mint                                 Weight (grams): 7.988                                   Pure Gold content (grams): 7.3224

Year: 1866                                                   Fineness: .9167                                               Dimensions: Dia: 22.05mm                            Thickness: 1.52mm

Mintage: Only 4,047,228 Sovereigns were struck at the Melbourne Mint in 1866

     This listing features two beautiful 19th century English Gold Sovereigns, minted in 1866. This coin is made of 0.917 fineness gold and feature intricate designs, including the Slayed Dragon. 

     It has been circulated and is un-certified, adding to the unique history and character. This coin is a great addition to any collection of world coins and paper money.

     The 1866 English Gold Sovereign Coat of Arms Shield is one of the rarest gold coins to be found, go ahead and search for this coin and you see what I am talking about!!

The “George and Dragon” Design

     The British Sovereign Gold coin is best known by its reverse design showing Saint George riding a horse. This popular design was made by the skilled coin designer Pistrucci. He designed various other coins in addition to this one.

     The George and Dragon design show Saint George on horseback with his hand clutching the horse bridles' rein. He only has his legs and feet armored. He has a helmet on his head with his hair floating behind. He also has a sword in his right hand with the dragon laying on the ground wounded.

     While many things have changed in the coin's design over the years, there is no dramatic or considerable change in its composition or shape.

     Through the years, this coin has changed its role according to the value and application of gold in various eras. Let’s take a look at the certain highlighted points.

The circulation years: featured Queen Victoria's favorite portrait that was struck on Sovereigns for the next 47 years

     This coin was first circulated in 1817. At this time the Sovereign faced tough competition with currency notes, which were largely considered a more convenient way of trading. As a result, this coin failed to gain mainstream popularity, and there was a considerable decrease in the number of mintage's the following year (1818).

     The proposal lead by economist David Ricardo to ban gold as a metal for coinage caused the coin’s value to decrease further. However, his proposal was declined in 1820, and the Bank of England continued to issue gold Sovereigns as a means of payment. The coin increased in value during wartime and quickly began to replace banknotes. Watching this positive trend, British Parliament banned the issuance of notes below five pounds in 1826.

The British Sovereign gold coin promoted worldwide trade activity and provided more liquidity in the market. Britain, Australia, Canada, and some other countries struck Sovereigns in the colonial era. They were in-fact promoted by several central banks to promote gold trade.

     Due to the discovery of new gold deposits in Australia in 1851, the demand for a similar coin like the British Sovereign increased. The officials in Australia installed a mint in 1853 and started striking a similar Sovereign but with different design and a slightly lighter color due to a higher silver content. This coin was not a legal tender until 1866.

     Canada followed Australia by establishing a mint branch called the “Royal Canadian Mint" and started making their own version of the sovereign. India also did the same.

     At this time, the Sovereign was the most popular coin worldwide, and was accepted at all ports of trade under the British Empire due to its gold content. This coin helped increase and facilitate trade throughout the Empire.