Sovereign Gold Coins have no currency value. The only type of value that can be linked to this coin is the 1 pound of gold. This is the only reason the coin was accepted as a means of payment by multiple merchants. Some of the merchants that accepted this coin was tobacco sellers and the Chinese silk traders. Some Indian Spice merchants also accepted the coin as payment in the past. The value initially rose dramatically by 28 shillings by the year 1932.
Gold coins are used all over the world even to this day. This form of payment is used as emergency money in case other forms of payment are no longer valuable. World War II pilots often carried gold coins with them in case of an emergency. Gold coins still have relevancy and are often used for payment and backup funds. These historic gold coins are valued by not only individuals, but countries.
The distinctive British gold sovereign coins are the only currency with no denomination. Their value was tied to the pound, which was determined by the gold standard. Therefore, although its worth can fluctuate, a sovereign gold coin offers instant liquidity worldwide. For many people, it is the ultimate in emergency money.
How to Value a Gold Sovereign
Obviously we cannot give you a definitive value for your particular sovereign, however as a rule of thumb here is the way to get a rough idea of the value of your gold sovereigns.
For sovereigns dated 1817 and after multiply the the spot price per ounce of gold bullion by 0.2354. This does not take into account the condition of your sovereign or whether it is a rare mintage or not.
For Example: September 2009 - Gold spot price is $999 or £617 x 0.2354 = $235 or £145