What Are Gold Five Sovereigns?
The Quintuple Sovereign (also called the Five Sovereign or gold £5) is the largest coin of The Royal Mint's flagship Sovereign range.
Struck to historic 19th-century specifications, these coins are made from 39.94 grams of 22-carat (.9167) gold, equating to 1.1771 troy ounce or 36.61 grams of pure precious metal. That makes these coins five times the weight of a standard gold 'full' Sovereign. Five Sovereigns measure 36.02 millimetres in diameter, measured from milled edge to milled edge. They have a nominal face value of £5s.
Many Five Sovereigns feature the instantly recognisable image of Saint George on horseback, his sword pointed at a winged dragon in a dynamic interpretation of the legend of England's patron saint. The work of Italian artist Benedetto Pistrucci, this historic engraving ties modern Quintuple Sovereigns to the origins of this denomination in the early 19th century.
History: Quintuple Sovereigns
The £5 gold coin was authorised under the Coinage Act 1816, which initiated a major recoinage of British currency. However, it was not until 1820 that the first gold Five Sovereigns were struck as patterns, shortly after the death of King George III. In subsequent decades, the deomination appeared sporadically, with small numbers of proof coins issued in 1826, 1829 and 1839. The scarce 1839 issue is renowned for its depiction of Una and the Lion, created by William Wyon.
The Quintuple Sovereign was first struck for circulation in 1887, coinciding with Queen Victoria's Golden Jubilee. Further currency issues were minted in 1893 and 1902, albeit in limited numbers, with many pieces being retained by collectors. Gold £5 coins were again issued in 1911 and 1937 as part of specimen sets made to mark the respective Coronations of King George V and King George VI.
After a long hiatus, The Royal Mint revived the Five Sovereign in 1980 and has issued these coins in most years since then. Modern editions are typically produced in proof format for inclusion in proof Sovereign sets, with brilliant uncirculated coins offered in an individual presentation. Since 2019, Quintuple Sovereigns have been offered with a distinctive matt BU finish.
Collecting UK Gold Five Sovereigns
The Five Sovereign series is a rewarding one for serious collectors of British gold coins, though completing a complete set of these coins can prove a challenging and expensive endeavour.
With rising gold prices, even fairly common modern Quintuple Sovereigns have increased in value significantly since they were issued, based on their pure gold content alone. Coins from low mintage years may be difficult to find and are priced high when they come to the market, with the same true for years with popular alternate reverse designs, like the 2012 Diamond Jubilee gold £5 and the 2002 Golden Jubilee shield design.
While collecting the Five Sovereign series from 1980 is achievable, and 1887, 1893, and 1902 coins can be found for sale in varied grades, early 19th-century issues are beyond the scope of all but the deepest pockets. Regardless, these coins are easy to admire and a pleasure to research, making them the highest collecting goal of many numismatists around the world.