The 1937 George VI coronation four piece gold set contains a half sovereign, sovereign, two sovereign and five sovereign coins. These were the only gold pieces that were issued during George VI’s reign, which had made them popular collectors’ items. At first glance these coins appear to be similar to the U.S. $2.50, $5, $10 and $20 gold coins. Upon further examination, it is noted that these coins are larger and heavier than their U.S. counterparts. In addition, the British gold coins are slightly purer. The British standard is 91.5% gold while the classic U.S. standard is 90% gold. A sovereign has a face value of 20 shillings. Like virtually all modern gold coins, their melt value far exceeds their face value and often their numismatic premium. These 1937 gold coins share a common design. None of the coins have a mark of value; the denomination of each piece is determined by its size. All of the coins have a plain edge and the die rotation is the “medal turn” which means that the designs turn on the vertical instead of the customary horizontal axis. The obverse features the standard left facing profile of King George VI. The legends read, “GEORGIVS VI D : G : BR : OMN : REX,” which translates to “George VI by the grace of God king of all Britains.” These words and abbreviations are followed by, “F : D : IND : IMP.” The translation is “Defender of the faith emperor of India.” India was a British colony and would remain so until it won its independence in 1947. After that time, the “emperor of India” phrase was dropped from all British coinage. The reverse features St. George slaying the dragon. This image has appeared a various British gold and silver coins since 1817. The Royal introduced the gold sovereign that year as the replacement for the guinea. Benedetto Pistrucci designed the St. George motif. Benedetto Pistrucci was born in Italy in 1783 and immigrated to England in 1815 where he spent most of the rest of his life. The British Mint hired him to design the Waterloo Medal which he worked on for 30 years, 1819 until 1849. If nothing else, the medal gave him job security at the mint. Mint officials took the position that they could not fire him before he finished project. After Pistrucci finally finished it, the medal could not be struck because it was too large. He died in 1855. The 1937 British coronation gold set has become a very popular collectors’ item in recent years. That interest has been reflected by sharply higher prices. With a mintage of 5,001 sets, this set is not a rarity, but it is scarce enough to generate considerable interest. Half Sovereign – This small gold coin, which has a diameter slightly larger than a dime, is of moderate interest to collector. As the least expensive coin in the four piece set, it provides "advanced" budget minded collectors (It's still not cheap.) with a way to acquire a George VI gold piece. This piece is graded PR-66. Sovereign – This gold piece, which has a diameter almost equal to the U.S. nickel, is the most popular coin in the four piece set. There is a strong collector demand for British gold sovereigns, and this is the only George VI sovereign with a mintage of only 5,001 pieces. This has resulted in an active market for these coins which has driven prices to $3 to $5 thousand for very well preserved examples. This piece is PR-66, Cameo. It is highest graded piece in the set. Two Sovereigns – This fairly hefty coin, which contains almost 0.60 of an ounce of gold, is probably the least popular coin in the four piece set. The two sovereign coin has not been issued as frequently as the sovereign, and its size does not conform with many of the other popular world gold coins, like sovereign and the U.S. $5 gold piece. Its collector value is several hundred dollars less than the sovereign, despite the fact that it contains twice as much gold. This piece is graded PR-65 *. Five Sovereigns – This large, impressive gold piece contains almost 22% more gold than the U.S. $20 gold coin. This has made it a very popular “trophy coin” among some buyers, especially in Asia, according to some dealers. Prices have risen dramatically in recent years with many pieces selling for $8 to $10 thousand. Pieces in PR-66, which is almost always the best available grade, have sold for close to $30 thousand in major auctions. Since these coins were issued and often stored in their silk and velvet lined boxes of issue, many of them have light hairlines. Of great concern are unsightly copper spots, which are often seen and can constitute a major defect when they are severe. These toning marks result when the gold and copper alloy is not mixed perfectly. The spots are akin to the natural toning that occurs when copper or bronze coins turn from bright red to brown. Although numismatic conservers can attempt to lessen the impact of these marks, beware. Since they are a part of the coin’s composition, they might well return to the surface of the piece in a few years. The exterior of the Proof gold set box of issue. A virtual view of the coins in the issue box. Conclusions For many collectors, the 1937 coronation Proof set represents the end of England’s greatest era. Much of the empire was intact when these coins were issued although its power was in decline. World War I and the Great Depression hit the empire hard. World War II and the subsequent austerity measures the nation endured after its conclusion weakened the empire greatly. In 1947, the British were forced to remove all of the silver from its circulating coinage. Repayment of Lend-Lease loans forced this change. The most significant change also came in 1947 with Indian independence. Removal of the “emperor of India” clause from the nation’s coinage at that time was far more than a symbolic event. It marked the end of British world dominance which had existed for several centuries. A Brief Biography of King George VI King George VI was born on December 14, 1895. Since he was the second son of King George V, he was not expected to be king. After first he was a poor student in school, but after he attended the naval college, he found his bearings and became an accomplished sailor. George served in the Royal Navy and Air Force during the First World War. George suffered from stuttering. This speech impediment caused him great embarrassment when he attempted to speak in public. He studied under Australian speech therapist, Lionel Logue, who helped overcome these difficulties, although not entirely. The history of this era in the king’s life was portrayed in the Academy Award winning film, The King’s Speech. George married Elizabeth Bowes-Lyon in 1923. Her father was an earl. Elizabeth turned down George’s first two marriage proposals because she did not want to live in the royal “fishbowl.” The marriage was one of the most successful royal pairings in British history. Elizabeth gave her husband value support during the trying years that were ahead of them, and she become one of the most popular members of the royal family. George and Elizabeth had two daughters, the future Queen Elizabeth II and Margaret. After Edward VIII abdicated, George became king. He was an awkward king at first, but events in Europe quickly tested his ability to cope with the situation. George was supportive of Prime Minister Nevil Chamberlain’s efforts to appease Hitler, but when the Nazi leader brought the continent to war, George demonstrated his leadership abilities. He toured Canada and The United States, and formed a lasting bond with President Franklin Roosevelt and First Lady Eleanor. Once war started and the bombing London began, George stood with the British people. George and the queen remained in Buckingham Palace and faced the same dangers as the British population. At one point a bomb landed on the palace grounds that landed within 30 yards where the king and queen were sitting. George observed the same rationing rules as other British citizens, and used his tools to manufacture weapon parts. He toured the bombed- out areas and gave the British people hope. French ambassador to the Court of St. James summed up George’s contributions to the war effort: If the “greatness” of a king can be measured by the extent of which his qualities responded to the needs of a nation at a given moment in history, then George VI was a great king, and perhaps a very great king.” George was heavy smoker, and the stain of dealing with World War II further impaired his health. The king suffered from heart issues and ultimately contracted lung cancer. After having a part of a lung removed, George’s health declined rapidly. He died on February 6, 1952.
Nice post and beautiful coins there! What was the grade of the 5 sov. piece? Was it also a "66"? I got the 1937 Sov. in PCGS Proof 65 Cam from the Terner collection, might go 66 these days but not going to pull it out. The others besides the 1/2 sov a bit much. One time I was trying to work a swap quite a few years ago with Goldberg when they had the 4 coin set in matte.....Didn't happen.
I only have the 1937 AV 1/2 Sovereign in Proof 67. Hope to get the Sovereign next. The AV 5 Pounds is very $$$$. Seems most English/ British gold is very overpriced, esp. MS AV 5 Guineas.
The five pound is a PCGS graded Pr-64, Ultra Cameo. I spotted it on a dealer’s site and further checked it out on the PCGS verification page. Since there have not been any major coin shows, I have become more adept at working the Internet for my purchases. The coin is very high end for assigned grade. It has some hairlines, but they are very light, and you have to swirl the coin around under a strong light to see them. The piece is not in anyway “shamed” by the other coins in the set. Yes, the 5 pound piece is very expensive. One can pay over $20,000 for a PR-66, which is well beyond what I was willing to pay. Dealers have told me that Asian buyers have pushed up the prices for these large, “trophy coins.” As the prices for the George VI gold pieces, this set is the only source for the George VI gold coins. No regular issue gold coins were issued with his name and portrait on them. That’s why the sovereign is so expensive. If you collect British sovereigns, that is the only issue that is available. It’s similar to the 1895-P dollar in the Morgan Dollar set. The Proof coins are all you can get.
