The history of the pound, the official currency of the United Kingdom, is long and fascinating, dating back over a thousand years.
Let’s see how the pound is born
The pound (in English pound sterling) takes its name from the unit of weight one pound of sterling silverequal to approximately 373 grams of pure silver.
Its first introduction dates back to 1158 during the reign of Henry II, with the minting of a coin called silver pennies.
Over the centuries it has undergone important changes, up to the pound as we know it today: the pound is one of the main world currencies and is widely used in international trade and is the fourth most traded currency in the world, after the US dollar, the the euro and the Japanese yen. Its stability and reliability make it an attractive investment for many global investors.
In addition to its economic role, the pound also has an important cultural value. It appears in numerous literary works, films and songs, and is an iconic element of British culture.
Here are the pounds worth a fortune
The most valuable old pounds are those that are rare or in excellent condition. Some of the most valuable coins include:
1. The Edward VII gold sovereignalso known as “sovereign“, is a coin minted during the reign of King Edward VII, from 1902 to 1910, to commemorate the coronation of King Edward VII. Only a few thousand were produced and it is estimated that today they are worth between 5,000 and 10,000 euros. It is made of 22 karat gold, weighing almost 8 grams; on the obverse is a portrait of King Edward VII facing right, by Bertram Mackennal; on the reverse, however, the classic depiction of Saint George killing the dragon, drawn by Benedetto Pistrucci. There are several varieties of the Edward VII Gold Sovereign, which differ in the mint mark and some minor details in the design. The most common are those minted by Royal Mint of London, recognizable by the letter “M” under the bust of the King. Other Commonwealth mints, such as that of Melbourne in Australia, have minted Edward VII gold sovereigns with their own distinctive marks.
2. The Victoria Gold Sovereign “Prova” from 1887 is a rare and valuable coin minted during the reign of Queen Victoria. This is a proof coin, i.e. a specimen minted to test the dies and the minting technique before mass production. In 22 carat gold, it features the portrait of Queen Victoria facing right on the obverse, by Joseph Edgar Boehm. The value varies between 2,000 and 3,000 euros.
3. The Silver Sovereign One Crown of Edward VI of 1551 is a rare and valuable coin minted during the reign of King Edward VI. This is a large 925 silver coin which was worth a quarter of a pound at the time. It portrays King Edward VI facing right, crowned and dressed in ermine; on the reverse, there is a shield with the coat of arms of England, surmounted by a crown. It is a tangible piece of English history, dating back to the Tudor period. In general, a coin in good condition can be worth between 1,500 and 2,500 euros. However, rarer or defective examples can sell for much higher prices.
4. The George V gold sovereign, also called “Sovereign”, is a coin minted during the reign of King George V, from 1911 to 1932. On the obverse, there is a portrait of King George V facing left. During the First World War, the coin was also minted in other mints of the British Empire around the world, such as those in Melbourne, Sydney, Perth and Bombay. These “Sovereigns” of the Dominions, as they are called, bear a distinctive mark of the mint of production. A common coin in good condition can be worth between 600 and 800 euros. However, “Sovereigns” of the Dominions or specimens with minting errors can reach up to 1,000 euros.
5. The Silver Sovereign Half Shield of Edward VI of 1551 is a rare and valuable coin minted during the reign of King Edward VI. It is a silver coin smaller in size than the “One Crown” pound, worth half a pound at the time. The value of a 1551 Edward VI “Half Shield” silver pound varies depending on its condition and rarity. In general, a coin in good condition can be worth between 500 and 1,000 euros. However, rarer specimens or ones with minting errors can be sold for much higher prices, even several thousand euros.
