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2020 Gold Proof Sovereign

2020 Gold Proof Sovereign
(VAT Exempt)
To commemorate the 200th anniversary of the end of the reign of George III, who was monarch when modern gold sovereigns were first produced, the Royal Mint has added a special mint mark to the 2020 Gold Sovereign Proof. The mint mark is just to the left of the date and is an ornate 'GR' in honour of King George III.
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Only 7,995 of the 2020 Gold Sovereign Proof coins are available as individual coins, which is the lowest Limited Edition Presentation since 2016.

Low mintage limits and mint marks increase the future scarcity of the coin. The Royal Mint sold out of this coin in a very short time and will never mint any more. Demand is still high and you should be looking to add this to your collection as soon as possible.

Hand Finished to Perfection

Proof coins have a mirror-like finish. They are almost hand made, with appreciable care. When the coin itself is 'struck' (i.e. when the images are pressed into the metal), it is done so multiple times (up to six) to ensure the image detail is outstanding. On average, it takes maybe five times longer to produce a proof sovereign as it does to produce a bullion sovereign.

The result is that the 2020 Gold Sovereign Proof is just about perfect and is ideal for coin collectors.

This extra care incurs considerable manufacturing overhead and a proof sovereign will therefore cost more than the gold content of the coin, but it will also attract a high re-sale price if you do decide to sell it. And there are strong markets for these coins.

Financial Advantages for UK Investors

 There are financial advantages that the 2020 Gold Sovereign Proof may offer to UK investors:

  • The 2020 Gold Sovereign Proof is exempt from Capital Gains Tax (CGT). You should ask your advisor of the implications of this, but only coins that are legal tender in the UK qualify for this. The 2020 Gold Sovereign Proof is legal tender for £1 so meets this criteria.
  • The 2020 Gold Sovereign Proof is exempt from VAT. Note than bullion silver coins are subject to VAT.
  • Gold coins are a physical, tangible asset. You can touch it, hold it, keep it wherever you like.
  • It's near-cash. If you do need the money, you can sell gold sovereigns almost instantly, virtually anywhere in the World, often on the high street or by post. There is a strong collector market for gold coins.
  • Gold Sovereigns are smaller (at 0.2354 oz) than one-ounce gold coins like Krugerrands so are more affordable as an entry level investment.

Always consult an accountant or legal/tax advisor for the current legislation regarding gold investments.

Description of the 2020 Gold Sovereign Proof

The Obverse (front, heads) has Queen Elizabeth II's 5th portrait by Jody Clark. Her Majesty used the Royal Diamond crown which she wore for her coronation and this design has been used on gold sovereigns since 2015. Jody Clark was the first Royal Mint employee for over 100 years to design a coinage portrait of a Monarch. Clark was also the youngest (at 33) to do so.

The Reverse (back, tails) of the 2020 Gold Sovereign Proof coins is that of the classical portrayal of St George slaying the Dragon, designed by Benedetto Pistrucci and digitally remastered for today's coinage. St George, the Patron Saint of England, is on horseback, sword in hand. On the floor to the left is a broken spear from a previous offensive.

Pistrucci's depiction dates back to 1817. He designed and engraved the artwork himself and was paid 100 guineas for his services, equivalent to about £8,000 today and that sounds like the Royal Mint got a bit of a bargain there.

Specifications of the 2020 Gold Sovereign Proof

  • Monarch: Elizabeth II
  • Dated: 2020
  • Metal: Gold
  • Finish: Proof
  • Mint: The Royal Mint
  • Max Mintage: 9905 (includes coins in sets)
  • Obverse: Jody Clark
  • Reverse: Benedetto Pistrucci
  • Weight: 7.98805g
  • Diameter: 22.05 mm
  • Thickness: 1.52 mm
  • Gold Content: 7.3224g = 0.2354 troy ounce
  • Face value: £1 = 20 shillings
  • Purity: 22 carat = 91.67% gold or 0.9167
  • General Description: Gold Sovereigns

Gold Sovereigns are maybe the most famous of all gold coins and much sought after by both coin collectors and bullion investors. Sovereigns have a long history, but the modern gold sovereign has been minted since 1817 and then in Britain 1817-1917, 1925 and 1957 onwards.

The Monarch's head is almost always depicted on the Obverse of the sovereign and on the 2020 Gold Sovereign Proof it is Elizabeth II. Queen Elizabeth II is the current and longest reigning monarch ever. Born on 21 April 1926 to King George VI and Elizabeth Bowes-Lyon, she became Queen in 1952 and her Coronation was on 2 June 1953.

The Reverse ("tail") of most contemporary sovereigns has been of St George and the Dragon, which was actually created quite a long time ago by Benedetto Pistrucci (1783-1855), who was an Italian engraver who became chief medallist at the Royal Mint.

The first of the modern sovereigns carried the head of King George III and the reverse of the George and the Dragon design by Pistrucci, which was very similar to the Reverse of the 2020 Gold Sovereign Proof.

The Royal Mint

This 2020 Gold Sovereign Proof was minted at The Royal Mint, which is the designated place for the UK to mint coins. It dates back well over 1000 years and is a Government-owned company.

Formed in the reign of Alfred the Great about the year 886, it moved to the Tower of London in 1279 and remained there for over 500 years. The Master of The Royal Mint has included famous figures such as Sir Isaac Newton. Since 2010 it has operated as Royal Mint Ltd, a company owned by HM Treasury, under an exclusive contract to supply all coinage for the UK although it also produces medals and coins for other countries.

If you would like to see where the 2020 Gold Sovereign Proof coin was created, the Royal Mint is currently located at Llantrisant, Wales, and it has an excellent visitor centre if you want to see what they do.

Buy from Us

The 2020 Gold Sovereign Proof is a 22-carat gold coin weighing 7.988 grams (0.2354 troy ounce) and was minted by the Royal Mint. It is one of the most popular and easiest ways to invest in gold.

FAQ - Frequently Asked Questions

Q: Why is the 2020 Gold Sovereign Proof such a strange weight?

A: Nowadays, 0.2354 troy ounce or 7.9881g may not make much sense, but it did once. In 1816 there was the "Great Recoinage". The main gold one-pound coin was changed from the gold Guinea (which was actually no longer valued at one pound) to the new 'Gold Sovereign'. At that time standard (22 carat) gold was fixed at £46 14s 6d per troy pound, so a little maths meant a £1 coin needed to weigh 123.2744783 grains or 7.988030269g. The weight was the same for the 2020 Gold Sovereign Proof, and will almost certainly be the same on future gold sovereigns.

Q: Why is a Sovereign 22 Carat Gold and Not Pure Gold?

A: 22 carat coins have a gold content of 91.67%, which is composed of 11/12ths gold and 1/12th copper. Adding the copper makes a gold alloy that is far more harder wearing than pure gold, so the coin will last longer in circulation. Remember, the sovereign was designed as a working coin, it used to be handled on a daily basis, it was THE one-pound coin.

Q: Does a Limited Mintage matter?

A: It can make a big difference. The 2020 Gold Sovereign Proof will only be minted in 2020 and there will never be any more produced once the mintage limit is reached. This can affect the future value of your sovereign as it increases the scarcity of the coin. Once the Royal Mint has sold out, the coin can only be obtained from the free market where rarity usually has a premium price.

Q: Is this 2020 Gold Sovereign Proof genuine?

A: Yes, and we guarantee it. With high value coins and investments such as the 2020 Gold Sovereign Proof, collectors and bullion investors often worry about counterfeits, but actually gold coins are very difficult to forge due to gold's unique properties of density and colour. Gold is extremely dense and to use another metal and gold-plate it would result in a coin that is under-weight, over-diameter or half-again as thick, something that would be spotted very easily by a expert. You can buy from us 100% worry free.


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