Gold Sovereigns And Its History

Gold Sovereigns And Its History Gold Sovereigns, the first ever pound coins in the history, is the most precious and most expensive pound coin being first struck in 1489 in the history. Several changes had to be made in all aspects relating to weight, design and value of Gold Coin due to fluctuations in the silver market and make the ratio of silver to gold proportionate. Although, initially it weighed 240 grains and its value was set at 20 shillings which is equivalent to one pound. From 14 th to 18th century, it remained the most ancient and priced gold coin in the history.

King Henry VII was the ruler when these coins were introduced. During his reign, he appointed most prominent masters and rulers through royalty to introduce a fine standard of gold for that period of time. One of the major motives was also not to let this preciously priced pound coin be exported to Europe since it will lead to lowering value of pound coins and exchanging them with European currency. Inflation occurred during 16 th century when its value was raised to 23 shillings and the coin weighed 200 grains and was also available at half pound either 100 grams or 96 grams. Due to its richness and prominence, changes were necessary so as to cope with fluctuations in the gold market.

Though, Gold Sovereigns were re-established in 1817, after the period of great re-coinage in the year 1816 that produced the similar kind of coins in a variety of forms in the whole world. It also influenced pound value in the market and new innovations and creations were made in structuring and hammering new coins. Before it completed its 500 years in the year 1989, it featured primarily only in two forms “shield or crown” and “long dragon” but in the year 1989 on the eve of completion of 500 years the coin was been hammered the form in the market.

This eminent pound gold coin embarked the gold market with its preciousness, elegance and value for money. During 16th and 17th century it was considered a tough job to earn money and it was not similar to counting rupees.

As a result, buying priced pound coin was a big deal and someone belonging to royal class or belonging to the section of minority in terms of monetary standards could only afford it.

European nation had a prime target to relish its value by forcing British and Englishmen to export it to Europe in exchange of coins priced lower in comparison to value of pound. An era of rejuvenation, repercussion, preponderance and dominance had taken place in the Gold market till two centuries where classy and triumphant preciously priced gold coins brought about eminent changes and almost every aim was efficiently accomplished by British reign in the Gold and Silver sector at that time. Serving with the frequent fluctuations is itself a sign of greatness and no deteriorations in demand even huge changes were brought in value, weight, size and structure of Gold Sovereigns is yet another remarkable thing.