Obverse
Bare head right
Lettering: EDWARDVS VII D:G: BRITT: OMN: REX F:D: IND: IMP:
Reverse
St George slaying the dragon right, date in exergue
Lettering:
1907
Weight 7.99 grams
Gold
Purity 91.6%
Estimated Bullion value = 7.99 grams x Spot Price x 91.6%
Did you guys know that during the time when the British pound was the world reserve currency, the gold to silver ratio was about 1:76 but all the coin that were minted in silver fluctuate or was debase by their silver content. Only the rich and powerful people would know about these and they would hoard the gold sovereign because it wasn't debased. Good money was hoarded and bad money was spent. During world war 2, British airman had 7 of these sovereigns slew into their jackets so in case they were shot down in enemy's territory, they might be able to buy they way to friendly territory.
I met a British expat who sold me these sovereigns and he told me he got them from a old man back home where he would pay this guy in gold sovereigns for helping he get his stuff done.
Let me share another interesting thing I gotten to hold my sovereigns, it is a sterling coin pouch which can holds up to 4 sovereigns.
If you guys are wondering how did I come about the gold to silver ratio of 1 : 76, let me share with you the calculation.
From my last post of the UK Silver 1/2 coin, I had mentioned that a sovereign can exchange for 1 pound sterling silver.
1 pound = 600 gram of 925 silver
600 X 92.5% = 555 gram of pure silver
1 sovereign = 7.99 gram of 916 gold
7.99 X 91.6% = 7.32 gram of pure gold
555/7.32 = 75.82 round up to about 76 times