Sovereign Queen Victoria Shield Reverse Gold Coin | 1871 - 1887

Sovereign, Victoria — the shield reverse

Most Sovereigns carry Pistrucci's St George and the dragon. This one does not. Between 1871 and 1887 The Royal Mint struck Sovereigns with both reverses in parallel, and the shield reverse — the crowned royal arms within a laurel wreath — is the scarcer of the two designs from that window.

The specification is the Sovereign standard: 916.67 gold, 22 carat, 7.98 g gross for 0.235 troy oz of pure gold, 22.05 mm across.

Specifications

Young head, shield back

The obverse of this period carries Victoria's young head portrait by William Wyon, used from 1838 well into the 1880s — the queen as she looked at her accession, kept in use for half a century. The jubilee head replaced it in 1887 and the old head in 1893.

These coins circulated as money. Wear is normal and does not change the gold content; it affects what a collector will pay, not what the metal is worth.

The tax point

The Sovereign meets HMRC's tests for a gold bullion coin in VAT Notice 701/21A: minted after 1800, at least 900 thousandths fine, legal tender in its country of origin, and sold at close to the value of its gold. So it is exempt from VAT.

It is also UK legal tender, and HMRC's capital gains exemption follows sterling currency. For UK residents that places a Victorian Sovereign outside capital gains tax, alongside the Britannia and unlike any continental gold coin. This is the published rule, not tax advice — your own position depends on your circumstances.

Questions buyers ask

Why is there no St George on it? Because The Royal Mint struck both reverses in this period. The shield type ran to 1887.

Is a Victorian Sovereign still legal tender? Yes, which is why the capital gains exemption applies to it.

How much gold is in it? 0.235 of a troy ounce, in a 22 carat alloy — the same as a Sovereign struck today.

Will it be worn? Expect circulation wear. It does not affect the gold content.

Other Sovereigns are on the Sovereign gold coins page, and more pre-war issues on the historical gold coins page. Live quotes on the precious metals prices page.