Double Sovereign
The double sovereign (also known as the Two-Pound) dates back to around 1500 during the reign of Henry VII when a thicker version of the sovereign was struck. This gold coin is extremely rare and was never intended for circulation, the obverse features Henry VII seated on a throne facing forwards and on the reverse is a large Tudor Rose.
Edward VI
It was not until some 50 years later in 1551 when Edward VI was reigning monarch that another Double Sovereign was struck using the same process as before. This also shows the king seated on a throne but the reverse shows a shield being supported by a lion on one side and a unicorn on the other. This coin is also very rare.
George III
The present form of Double Sovereign or Two Pound Sovereign as it is also known dates to 1820 during the reign of George III. This coin was never intended for general circulation but to provide a pattern. The obverse shows King George wearing a wreath, right facing and bears the inscription "GEORGIUS III D G BRITANNIARUM REX F D 1820". On the reverse is the Pistrucci design of St George and the Dragon.
George IV
The Double Sovereign was first used in circulation in the year 1823 during the reign of George IV. The obverse shows the king left facing with the inscription "GEORGIUS IIII D G BRITANNIAR REX F D". On the reverse is the date, Pistrucci's design and the inscription "DECUS ET TUTAMEN ANNO REGNI IV" around the edge.
During the years 1824 - 1826 the proof coins depict a smaller kings head,the date and the inscription "GEORGIUS IV DEI GRATIA" whilst on the reverse is a crowned shield with a mantle cape and the inscription "BRITANNIARUM REX FID DEF". Note: The 1826 proof has an edge inscription "DECUS ET TUTAMEN ANNO REGNI SEPTIMO".
It was also during 1826 that the first full proof set was issued that included the double-pound coin with the second portrait of George IV on its obverse. Look out for trial coins where the coin was struck in different metals, these coins showed a crowned shield with arms on the reverse. There were only around 450 of these trial coins struck which makes them rare and valuable, costing as much as £6110 ($10000).
William IV
In 1831 a proof coin was produced for the start of the reign of William IV. The obverse shows a right facing head of the king with the inscription "GULIELMUS IIII D G BRITANNIAR REX F D", while the reverse shows a crowned shield with the inscription "ANNO 1831". There is no edge inscription. These coins were once again only struck as proof coins for coronation coin sets.
Victoria
It was not until Queen Victoria's Jubilee in 1887 that the double sovereign was struck as not only as a proof but also for general circulation as a two pound coin. The obverse shows Victoria with the second portrait, that of the "jubilee head" and the reverse, St George and the Dragon as before. These coins were now also struck at the Sydney Mint and carried the "S" mintmark (these coins are very rare). When Victoria's third portrait, that of the "old head" came into production the double-pound coins were restruck to show the "old head" and released into general circulation and another proof set was also reissued.
Edward VII
In 1902 there were two different double-coins struck at the same time; the last double-pound coins for circulation and the specimen proofs struck in a matte finish at the London Mint for Edward VII coronation. The Sydney Mint also struck a proof and along with the 1887 coin from the Sydney Mint is very rare.
George V
During 1911 there were two proof sets struck for the coronation of George V. A long set and a short set (insert link to proof sets here) Both showed George V on the obverse and St George on the reverse. The price for one of these coins is around £1080 ($1750) as there were only 2,812 struck.
Edward VIII/George VI
Again in 1937 the double-pound coins were struck twice. When George V died the London Mint began production of the proof sets for Edward VIII coronation. However, the sets were never to be issued due to Edward abdicating on December 10 1936. If you are lucky enough to find an Edward VIII the coin is valued at around £175,000. Therefore the mint had to issue a second double-pound coin set in 1937 showing the new king George VI.
Only 1 matte proof was struck and 5,500 normal, mirror proofs. You can expect to pay around £650 ($1000) for a mirror proof and obvriously whatever someone is willing to pay for the 1 matte proof coin.
Elizabeth II
For the coronation of Elizabeth II proof sets were only struck for collections such as museums, none were released to the public or into general circulation. In 1953 a small number of gold £2 pieces were struck to give continuity of the series, but these were not released to the public, with the result that they are now valued at around £75,000.
These were the very last double gold coins to be struck pre-decimalization.
The next time double-pound coins would be struck was in 1980 followed by 1982 and 1983. It was from this moment on that commemorative coins would also be issued although these would not be in gold but in a mix of copper and nickel. These commorative coins would also not feature St George and the Dragon on the reverse.
Coins from 1980 to 1984 use the Arnold Machin effigy of the Queen, while the 1985-1996 coins use the Raphael Maklouf effigy and most later coins use the Ian Rank-Broadley effigy. Until 1993, all these years use the Pistrucci reverse except for 1986 which used a gold version of the circulating Two Pound coin, and 1989 when a completely new design was used to commemorate the 500th anniversary of the first issue of the sovereign coin - the obverse shows the Queen seated on the coronation throne holding the orb and sceptre, with the legend ELIZABETH II DEI GRA REG FID DEF, while the reverse shows a crowned shield within a double rose and the legend ANNIVERSARY OF THE GOLD SOVEREIGN 1489-1989.
Exceptions
Although the two pound coins were usually issued in cased "proof" condition, the following years of 1823, 1887, 1893, and 1902 did go into general circulation. You can expect to pay around £1222 ($2000) for an 1823 double sovereign in good condition.
Rare Double Sovereigns
1551 - Henry VII with Tudor Rose
1551 - Edward VI with Lion and Unicorn
1823 - first two-pound coin issued with George IV head
1826 - trial coins struck in different metals
1887 - with the "S" mintmark
1902 - with the "S" mintmark
1902 - Matt Proof from London
1937 - 1 matt proof
Double Sovereign Dimensions
Pre-Decimalization
Diameter 28.4mm
Weight 15.9761g
Fineness .917
Gold Weight - 0.4708 troy oz
Post-Decimalization
weight - 15.9200g
Gold weight - 0.4694 troy oz
The exception being in 1989 for the 500th anniversary commemorative double sovereign where the coin was struck at the old Pre-decimalization weight.
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