One Ounce Gold Sovereigns
Twenty years ago nobody would ever have asked us for a 1 ounce gold sovereign, nowadays we get asked almost daily. Strangely, the first time we were ever asked was probably as recently as last year (2002). The purpose of this page is to dispel the misconception, and also to preempt enquiries about them, so here goes:-
One Ounce Gold Sovereigns Do Not Exist
That's right, there is no such thing as a one ounce sovereign, or for that matter a half ounce sovereign, a tenth ounce sovereign, or a quarter ounce sovereign, although the gold content of a sovereign is quite close to, but not exactly, a quarter of an ounce.
Sovereigns 1489 - One Ounce Bullion Coins 1967
Gold sovereigns were first produced in 1489, and in their current format since 1817, and are possibly the world's most famous coin.
The concept of one ounce gold bullion coins were only invented in 1967 with the introduction of the Krugerrand which was then followed by other one ounce gold bullion coins from a number of other countries, and by other sizes or weights, all fractions or multiples of an ounce. Of all the sizes, the one ounce is the most commonly traded, partially because the fractional sizes cost more to produce, and therefore trade at higher premium prices, and are more suitable as gifts or jewellery than for investment. Part of the success of the Krugerrand is because containing an ounce of gold makes it quick and easy to calculate and compare its price, although the other reason for its success is that it is available for a low cost over its gold content.
Because of the proliferation of modern bullion coins, it is predictable that people new to investing in coins would fail to realise that sovereigns were real coins, originally used in circulation as money, and were not produced in simple one ounce weights.
A new one ounce gold bullion coin due to be launched on March 1st 2009. Made for Fiji by the New Zealand Mint.
We are UK distributors, and expect our first delivery around the launch date.
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Sovereigns Versus Krugerrands
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Other World Coins