To bullion or not to be bullion.... That is the sovereign?

So I have picked up a few modern proof sovereigns knowing these were bullion gold coins.


I recently acquired a 1925 king George sovereign.



I know some of the earlier sovereigns carry numismatic value, but my question would be when are sovereigns considered modern bullion. Thanks.

 

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I would say it remains modern whilst it still carries the current Sovereign`s bust.

 

"Modern" is one of those terms that's pretty hard to pin down. I once read a history of philosophy published in the 20th century that considered Machiavelli (1469 - 1527) "modern."

UK coins have one huge divide, Spink now even puts them into separate catalogs: pre-decimal and decimal. In 1971 ("Decimal Day") the UK went from the nearly ancient division of pounds into 240 pence (and 12 pence to a shilling and 20 shillings to a pound) to a newer decimal system in which a pound equaled 100 pence.

Some would probably consider the decimal issues "modern." A 1925 farthing falls some 50 years before decimalization, so I'm not really sure, but it still seems "modern" on many levels. It's not hammered, for one, and it has the basic layout of current UK coins.

This is one of those things that the right people, or perhaps the wrong people, could probably discuss until their tongues go numb.

 

How old does a sovereign need the be to be numi?

 

Spink lists the 1925 sovereign as "BV" (bullion value) for conditions under "Unc." So if the coin above grades Unc or above it technically has numismatic value. The first time I see "BV" in the 2017 Spink catalog is 1852 for coins below Fine. In 1898 the "BV" applies to coins under EF. As usual, it all depends on condition.

 

Thanks for your insight. I now know to say away from circulated specimens for the collection and only pay a small premium over melt if it was in circulation.

 

Between 1925 and 1957 sovereigns were only issued in one year, 1937, but that was only in proof. So I would consider this 30 year hiatus to be the cut off point. I bought several from Apmex some time ago at a fraction over spot and they were all 1958 or 1965 uncirculated. All those I have from earlier are clearly circulated and do not carry a premium except in the higher grades. Generally, the older the lower the grade before considered to be non-BV.