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Five pounds (gold coin)
Five pounds (gold coin)
Five pounds (gold coin)
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Five-pound piece
Quintuple sovereign
United Kingdom
Value£5
Mass39.94 g
Diameter36.02 mm
EdgeVaries
Composition.917 gold (22 carat)
Gold1.1771 troy oz
Years of minting1820, 1826, 1829, 1839, 1887, 1893, 1902, 1911, 1937, 1953, 1957, 1980–1982, 1984–present
Mint marksS (1887 and 1902 only). Found on exergue between design and date.
Obverse
DesignThe reigning monarch (1984 coin showing Elizabeth II shown)
Reverse
DesignSt George and the Dragon
DesignerBenedetto Pistrucci
Design date1817 (first appearance on five-pound coin in 1820).

The five pound British gold coin, also known as a quintuple sovereign, has a nominal value of five pounds sterling (£5). It has been struck intermittently since 1820, though as a circulation coin only in 1887, 1893 and 1902. Through most of its history, it has depicted, on its reverse, Benedetto Pistrucci's portrayal of St George and the Dragon, which has traditionally been used on the sovereign, or one-pound gold coin.

The five-pound piece was one of the original denominations of gold coins authorised as part of the Great Recoinage of 1816. It was not struck until 1820, and then only as a pattern coin. It was issued again in small numbers in 1826, 1829 and 1839, with the last using the well-regarded depiction of Una and the Lion by William Wyon. Although the Una coin was for sale for almost half a century at the Royal Mint, only about 400 are believed to have been struck.

In 1887, it was struck for the first time for circulation, and it was struck also in 1893 and 1902, though few actually circulated; examples struck in 1911 were only available as part of a proof set. In 1887 and 1902 it was struck in very small numbers at the Sydney Mint, with examples bearing its mint mark S. The examples struck in preparation for the coinage of Edward VIII are highly prized; one sold in 2021 for £1,654,000, the highest price paid for a British coin.

Since 1980, the five-pound gold piece has been struck in most years by the Royal Mint for sale to collectors and holders of bullion. Although generally featuring Pistrucci's design, commemorative versions have been issued, such as in 2022, as a memorial following the death of Elizabeth II, featuring the bust of her son and successor, Charles III.

Origins

[edit]
For further information regarding the beginnings and history of the modern sovereign coinage, as well as discussion of the St George and dragon reverse design, see Sovereign (British coin).

The five guinea gold coin started out in 1668 as a coin worth one hundred shillings (five pounds), and was sometimes called a five-pound coin. This was before the fluctuating value of the guinea settled at twenty-one shillings in 1717. According to Richard Lobel, in his Coincraft's Standard Catalogue of English and UK Coins, there is some argument that the five-pound piece issued after the Great Recoinage of 1816 was merely a continuation of the earlier coin, which had last been struck in 1753. However, Lobel separates the two series in his catalogue.[1]

After the Napoleonic Wars, Parliament, by the Coinage Act 1816, placed Britain officially on the gold standard, with the pound to be defined as a given quantity of gold. During parliamentary debate, almost every speaker supported having a coin valued at twenty shillings, rather than continuing to use the guinea.[2] One reason for the introduction of gold coinage based on the sovereign was that its value, equal to one pound sterling, was more convenient than the guinea, equal to twenty-one shillings.[3] Nevertheless, the Coinage Act did not specify which coins the Mint should strike.[4]

A committee of the Privy Council recommended gold coins of ten shillings, twenty shillings, two pounds and five pounds be issued, and this was accepted by George, Prince Regent on 3 August 1816.[5] The twenty-shilling piece was named a sovereign, with the resurrection of the old name possibly promoted by antiquarians with numismatic interests.[6] The sovereign and half sovereign were both first issued in 1817, but there was initially no striking of the two larger coins.[7] Since 1754, there had been no issuance of coins more valuable than a guinea intended for general circulation; the need for higher value tender had been met by bank notes.[8] The St George and the dragon design was suggested as an appropriate motif for the sovereign by its creator, Benedetto Pistrucci, based on a cameo he had carved.[9]

Early issues

[edit]
Gold coin showing a man's bust
Gold coin showing a naked man, intended to be a knight, battling a dragon
George III five-pound piece

The first striking of the five-pound denomination after the coinage reform was in 1820 as a pattern coin, depicting George III (r. 1760–1820). The obverse shows the right-facing bust of the king with the legend GEORGIUS III D G BRITANNIAR REX F D (transl. George III by the grace of God king of the Britains, defender of the faith) and the date, while the reverse shows Pistrucci's George and dragon design with no legend or date. This design had first appeared on the sovereign in 1817, surrounded by a Garter.[10] The design has Pistrucci's surname at the lower left, with the initials of the master of the Mint, William Wellesley-Pole, near the broken spear.[11]

Lobel, in describing the 1820 five-pound piece, noted that on a copy of G. F. Crowther's 1887 book, A Guide to English Pattern Coins presented to an unknown person with the publisher's compliments, there is a pencil notation that work on the 1820 piece was completed a few days before George III's death, and after Pistrucci, walking home on the day the king died, heard church bells announcing the demise. He then returned to the Royal Mint and instructed that some five-pound coins be struck the next morning. Lobel described this as a "fascinating episode of numismatic history".[12] The numismatist Edward Hawkins, writing in 1850, also wrote dramatically, describing what he deemed heroic efforts to ensure that the pattern double sovereigns and five-pound coins were actually struck before the king died, but William John Hocking and others have since studied the matter, concluding the coinage dies were not completed until after the king's death on 29 January. The approximately 25 specimens were distributed among Royal Mint officials, prominent numismatists and other important people of the day, as well as given to the Royal Mint and British Museum.[13] One sold in October 2021 for about £635,000.[14]

Gold coin showing a man's bust
Gold coin showing a heraldic shield
George IV five-pound piece

The next appearance of the denomination was in the reign of George IV (r. 1820–1830), in 1826, included in the proof set of that year. One piece is known dated 1829. The obverse shows the left-facing bust of the king with the legend GEORGIUS IV DEI GRATIA (transl. George IV by the grace of God) while the reverse shows a crowned shield within a mantle cape with the legend BRITANNIARUM REX FID DEF (transl. King of the Britains, defender of the faith). The 1826 coin has the edge inscription DECUS ET TUTAMEN ANNO REGNI SEPTIMO (transl. An ornament and a safeguard; seventh year of the reign), while the 1829 coin has a plain edge. No five-pound coins were issued during the reign of William IV (r. 1830–1837).[15]

Victoria five-pound coins

[edit]
Gold coin showing a woman's bust
Gold coin showing a woman leading a lion
"Una and the Lion" piece

The next coin of this value did not appear until early in the reign of Queen Victoria (r. 1837–1901), when what Lobel deems one of the most famous and attractive of all British coins was produced. This piece, known as the Una and the Lion coin, is described by him as having "cult status".[15] Una and the Lion appear in Edmund Spenser's 16th century epic The Faerie Queene. The obverse shows the young head of the queen, facing left with the legend VICTORIA D G BRITANNIARUM REGINA F D (transl. Victoria by the grace of God queen of the Britains, defender of the faith), while the reverse shows her as Una leading the lion to the left, with the legend DIRIGE DEUS GRESSUS MEOS (transl. O Lord, direct my steps), though some coins say DIRIGIT DEUS GRESSUS MEOS (transl. The Lord directs my steps) with the date MDCCCXXXIX (1839) in the exergue under the lion. The edge may either have the inscription DECUS ET TUTAMEN ANNO REGNI TERTIO (transl. an ornament and a safeguard; in the third year of the reign) or be plain. These coins were struck on demand and were sold by the Royal Mint until 1886; there are a number of varieties and a total mintage of perhaps 400.[16] A specimen in exceptional condition sold in 2021 for US$1.44 million (£1.04 million).[17]

Pistrucci's George and dragon depiction returned to the five-pound coin in 1887, as part of the Jubilee coinage, with an obverse by Joseph Boehm.[15] The new coin bears the wording VICTORIA D G BRITT REG F D (transl. Victoria by the grace of God queen of the Britains, defender of the faith).[18] The abbreviated form of Britanniarum is rendered as BRITT rather than with a single "T": Gladstone, a classical scholar as well as a politician, had pointed out that the abbreviation of a Latin plural noun should end with a doubled consonant.[19]

Gold coin showing a woman's bust
Gold coin showing a naked man, intended to be a knight, battling a dragon
The rare 1887 five-pound piece from the Sydney Mint. Its mint mark "S" is seen on the base of the image of St George and the dragon above the exergue and midway between the two "8"s in the date.

The 1887 five-pound coin marked the first time that the denomination was available to the public at its face value; previous issues had been pattern or proof coins.[20] In addition to those available for purchase at face value, proof coins were struck as part of the 1887 proof set.[15] The five-pound and two-pound pieces did not circulate to any great extent, and were kept primarily as souvenirs.[21] Nevertheless, the 1887 issue made the five-pound piece the highest-denomination circulating coin in Britain.[20] A few of the 1887 five-pound coins were struck at the Sydney Mint and bear its mint mark "S" on the reverse. This is an extreme rarity, with only two being known in private hands – one sold in 2021 for US$660,000 (£480,000).[22]

The Pistrucci reverse was used again in 1893, when the obverse used the "Old Head" or "Veiled Head" of the queen, with the legend VICTORIA DEI GRA BRITT REGINA FID DEF IND IMP (transl. Victoria, by the grace of God queen of the Britains, defender of the faith, empress of India), and the edge, like that of the Jubilee issue, is milled.[23] Victoria had been lobbying since 1888 for her title as empress of India, granted by the Royal Titles Act 1876, to be included on the coinage,[24] and on 12 February 1892, the Prime Minister, Lord Salisbury, wrote to her, "Your Majesty's Servants are of opinion that the title of Empress of India, indicating, as it does, Your Majesty's relation to far the larger portion of Your subjects, ought to appear on the coin, in the shape of the letters 'Ind Imp' or 'I.I.' or some such abbreviation."[25] IND IMP, short for INDIAE IMPERATRIX (transl. empress of India), thus appears on the 1893 issue,[25] which was available both at face value and as part of a proof set.[26]

Early 20th-century five-pound coins

[edit]

Following the death of Queen Victoria in January 1901, preparations began for the coinage of her son and successor, Edward VII (r. 1901–1910), and a five-pound coin, with an obverse by George William de Saulles, was made current by proclamation dated 1 January 1902. The Royal Mint had decided to make as few changes as possible for King Edward's coinage, and the Pistrucci reverse continued for the gold coins. Five-pound coins were issued both at face value and in the proof sets issued to commemorate the coronation of Edward VII. The legend on the obverse reads EDWARDVS VII D G BRITT OMN REX F D IND IMP. (transl. Edward VII, by the grace of God king of all the Britains, defender of the faith, emperor of India). The word OMN (short for omnium, lit. 'of all'), was added after BRITT in recognition of the empire's assistance during the Boer War, these words last appeared on British coinage in 1953.[27] During Edward's reign, five-pound coins were only struck in 1902. A small number of coins, with the mint mark "S", were struck in 1902 at Sydney, and are extremely rare.[28]

Five-pound coins dated 1911 were struck as part of the coronation proof sets that year for George V (r. 1910–1936), but for uncertain reasons, no ordinary, non-proof specimens were coined. This was the only issuance of five-pound coins during that reign. These coins featured a bust of King George by Bertram Mackennal, Pistrucci's reverse and a legend that was unaltered except to substitute the name of the king, rendered as GEORGIVS V.[29][30]

Gold coin showing a man's bust
Gold coin showing a naked man, intended to be a knight, battling a dragon
The most valuable British coin: the 1937 Edward VIII five-pound piece

Following the death of King George in 1936, preparations began for the coinage of his son and successor, Edward VIII (r. 1936–1936). The new king wanted his profile to face left on the new coinage, the same way as his father, which would break a tradition to reverse the direction on the commencement of a new reign which dated back to 1660. Following extensive correspondence between the king and the chancellor of the exchequer, Neville Chamberlain, Edward got his way, and pattern coins bearing a left-facing bust of the king by Thomas Humphrey Paget were struck. The Pistrucci reverse was used, but the king's abdication in December 1936 ended the preparations. Edward later requested a set of the pattern coins prepared for him, but was refused by his brother and successor, George VI (r. 1936–1952). Edward's five-pound coin is extremely rare, with only two known to be in private hands, of which one sold in 2021 for US$2,280,000 (£1,654,000),[31] a record for a British coin.[32] The legend on Edward's five-pound piece was identical to that of the previous reign but for the name and date; only a similar change was made for George VI, whose five-pound coin features a left-facing bust by Paget and the Pistrucci reverse. This was only struck in 1937, with a plain edge, as part of the coronation proof sets.[33][34] None were issued for general circulation;[35] but gold had vanished from circulation in Britain twenty years previously.[36]

Elizabeth II and Charles III

[edit]

The reign of Queen Elizabeth II (r. 1952–2022) saw a departure from the normal practice in issuing gold coinage, in which the four denominations of gold coins (the half sovereign, sovereign, double sovereign and five-pound piece) were available to the public in the coronation year. A small number of gold £5 pieces were struck in 1953, the year of Elizabeth's coronation, in order to provide continuity of the series, and again in 1957, with an obverse depicting Elizabeth by Mary Gillick and the Pistrucci reverse, but neither of these strikings were released to the public. The 1953 strikings bore an obverse legend of ELIZABETH II DEI GRA BRITT OMN REGINA F D (transl. Elizabeth II by the grace of God queen of all the Britains, defender of the faith) but this was changed for 1957, removing BRITT OMN (transl. of all the Britains).[37] This change was made to acknowledge the evolving British Commonwealth, which by then contained some republics.[38] The resulting wording continued to be used on Elizabeth's coinage, with variations in the abbreviations.[39]

No further £5 gold pieces were struck until 1980, nine years after decimalisation.[40] The Royal Mint realised there was a market for sovereign coins, and began to sell them to collectors at well over face or bullion value.[41] Beginning in 1980, five-pound gold coins were sold every year, except 1983, sometimes in a four-piece proof set with the half sovereign, sovereign and double sovereign, and sometimes sold individually. The pieces sold individually were in uncirculated, rather than proof, condition, and display an encircled "U" to the left of the date. Pieces up to 1984 used an obverse portrait of Elizabeth by Arnold Machin, and later ones up to 1997 by Raphael Maklouf, excepting the 1989 issue, which featured special designs by Bernard Sindall in honour of the 500th anniversary of the sovereign coin.[40][42][43]

From 1998, a new obverse portrait of Elizabeth by Ian Rank-Broadley was used on the five-pound piece.[44] This was used up to 2015. The Pistrucci design continued on the reverse, except in 2002, 2005 and 2012, when commemorative designs were used instead.[45] The special designs for the reverse which were substituted for Pistrucci's were for Elizabeth II's Golden Jubilee in 2002 (by Timothy Noad, depicting a crowned shield within a wreath), in 2005 (a more modern interpretation of the George and dragon, also by Noad) and in 2012 for Elizabeth II's Diamond Jubilee (another modern interpretation of the George and dragon, by Paul Day).[46] Beginning in 2009, the Pistrucci reverse for the five-pound coin was revised to closely resemble the denomination's original 1820 pattern coin, with the designer's last name in full to the left of the date, and a broader rim to the coin.[43]

Beginning with some 2015 issues, an obverse portrait of Elizabeth by Jody Clark was used, though in 2016, some coins bore a different portrait of the queen by James Butler. In 2017, a version with the original, 1817 sovereign design was struck. This was for the 200th anniversary of the modern sovereign.[47][48]

Jean Baptiste Merlen's 1825 reverse for the sovereign was reused 200 years later.

In 2022, the Royal Mint struck five-pound coins with a reverse design by Noad showing an interpretation of the Royal Arms. This design, used for the sovereign and its multiples and fractions, was to mark the Platinum Jubilee of Elizabeth II.[49][50] Later in the year, following the death of Elizabeth II, the Royal Mint issued memorial coins in the sovereign range, including the five-pound coin, featuring an interpretation of the Royal Arms by Clark as the reverse, and for the obverse, the first coinage portrait of Elizabeth's successor, Charles III (r. 2022– ), by Martin Jennings. In addition to a left-facing bust of Charles, the obverse carried the wording CHARLES III DEI GRA REX FID DEF (transl. Charles III by the grace of God king, defender of the faith).[51] In 2023, a five-pound piece commemorating the coronation of Charles III was struck, with the obverse a crowned portrait of the king by Jennings and the reverse the Pistrucci George and dragon.[52] For 2024, Jennings' uncrowned portrait of Charles was paired with Pistrucci's reverse on each of the five sovereign denominations struck in proof, from the quarter sovereign to the five-pound piece.[53] For 2025, the five-sovereign piece featured Jean Baptiste Merlen's Royal Arms reverse, first used on the sovereign in 1825, for its 200th anniversary.[54]

References

[edit]

Bibliography

[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Five pounds (gold coin)

View on Grokipedia
from Grokipedia
The five pounds gold coin, commonly known as the quintuple , is a British with a nominal value of £5, first minted in as a proof pattern during the reign of King George III. It measures 36.02 mm in diameter and weighs 39.94 grams, struck in 22-carat gold (91.67% pure) containing 1.177 ounces of fine gold. The obverse typically bears a of the reigning , while for most issues the reverse features the renowned design of Saint George slaying the dragon, created by engraver in 1817 (notable exception: 1839 Una and the ). Equivalent to five standard coins in gold content, it has been produced intermittently as a commemorative and proof piece rather than for general circulation, with only limited releases in 1887, 1893, and 1902 entering everyday use. The coin's origins trace back to the early , when it was introduced as a pattern to complement the , Britain's primary gold established under the Great Recoinage of 1816. Initial strikes in 1820 under were confined to proofs with mintage of 27 pieces, while the 1826 issue under had a mintage of approximately 150-400 proofs, serving as items rather than . Queen Victoria's era marked the first significant expansion, with a 1839 proof issue followed by larger productions for her in 1887 (mintage of 53,844 for circulation and 797 proofs) and the "Old Head" portrait in 1893 (20,405 circulation pieces). The 1902 issue, with over 15,000 coins struck, represented the final circulation release before the denomination shifted primarily to proofs and commemoratives. Subsequent monarchs continued the tradition for ceremonial purposes, including George V's 1911 coronation proof (mintage of 2,812) and George VI's 1937 issue (5,501 proofs). Elizabeth II saw a revival in the late 20th century, with proof sets from 1984 onward and a 2000 bullion version, culminating in low-mintage pieces like the 2022 memorial issue (810 pieces). Under Charles III, the Royal Mint has issued modern quintuple sovereigns tied to royal milestones, including the 2023 Coronation proof (issue limit 500) and 2024 Buckingham Palace proof (mintage 210), maintaining the coin's status as a premium collectible. Throughout its history, the five pounds gold coin has symbolized British numismatic prestige, with values driven by rarity, condition, and gold content rather than face value.

Overview

Description and Significance

The five pound gold coin, also known as the quintuple sovereign, represents the largest denomination in Britain's historic sovereign series. Crafted from 22-carat alloy, it weighs 39.94 grams total, equivalent to 1.177 ounces of pure gold, and has a of 36.02 millimeters with a thickness of 2.89 millimeters. The obverse of the coin features the portrait of the reigning monarch, varying by issuance and artist, such as the Jubilee bust of by Sir Joseph Edgar Boehm or the mature head by Leonard Charles Wyon. The reverse commonly displays engraver Benedetto Pistrucci's enduring depiction of Saint George mounted and slaying the dragon, a design first introduced on the in 1817 and scaled up for this larger format; notable exceptions include the 1839 proof's "Una and the Lion" by , symbolizing imperial strength. Authorized as part of the to standardize Britain's gold currency post-Napoleonic Wars, the five pound coin was not struck for general circulation but debuted in as a rare pattern issue under , limited to proofs for official presentation. Its significance lies in its role as a prestige commemorative piece, marking pivotal royal milestones like Victoria's 1887 (over 54,000 struck) and the 1893 issue featuring the new 'Old Head' portrait, Edward VII's 1902 coronation, and George V's 1911 coronation, thereby encapsulating British monarchical continuity and numismatic excellence. With mintages often under 10,000 and many issues confined to proof sets, these coins hold substantial collector and investment value, far exceeding their nominal £5 face, as emblems of imperial history and craftsmanship.

Specifications

The five pound , commonly known as the quintuple , adheres to standardized specifications derived from the coinage system established in the . It is struck in 22-carat , consisting of 91.67% pure alloyed with 8.33% for . The total weight is 39.94 grams, containing 36.61 grams (1.177 ounces) of fine . The coin measures 36.02 mm in diameter and 2.89 mm in thickness, providing a substantial size suitable for its role as a high-value commemorative or presentation piece. Its edge is typically milled or reeded to prevent clipping and counterfeiting, consistent with British gold coinage traditions. These dimensions and composition have remained largely uniform across historical and modern issues, ensuring compatibility within the sovereign family.
SpecificationDetail
Nominal Value£5
Total Weight39.94 g
Fine Gold Content36.61 g (1.177 oz)
Alloy (91.67% Au, 8.33% Cu)
Diameter
Thickness2.89 mm
EdgeMilled/Reeded
Designer (Reverse) (St. George and the Dragon, most issues)
While the core specifications are consistent, minor variations may occur in proof strikes or special editions, such as subtle differences in finish or mint marks, but the weight and fineness standards are fixed by royal proclamation to maintain intrinsic value.

Origins and Early History

Historical Context

The British five-pound coin emerged as part of the , a comprehensive reform of the nation's currency system initiated under King George III to stabilize the economy following the and the suspension of payments during that period. This recoinage established a , replacing the earlier guinea-based system that had prevailed since the late and was prone to fluctuations in values. The reform authorized new denominations, including the (one pound) and the five-pound piece, to facilitate larger transactions and promote confidence in the currency by tying its value directly to content. Although authorized in 1816, the five-pound coin was not struck until 1820, in the final year of George III's reign, and only as a limited proof issue of 25 pieces, intended for rather than circulation. Designed by Italian engraver , it featured the iconic reverse of Saint George slaying the dragon, a motif first developed for the and symbolizing Britain's enduring chivalric heritage. These early strikes, weighing approximately 39.94 grams of 22-carat , underscored the coin's role as a prestige item amid ongoing economic recovery, with no immediate plans for widespread minting due to the preference for smaller denominations in everyday use. Under , who ascended in 1820, the five-pound coin saw further limited production in 1826 as part of a proof set commemorating his , with mintages estimated between 150 and 225 pieces. A unique proof variant was also struck in 1829, highlighting the coin's evolution from experimental patterns to ceremonial tokens. This period marked the coin's initial establishment as a high-value piece, reflecting broader efforts to modernize and symbolize national stability through numismatic artistry, though it remained scarce in circulation until later reigns.

George III and George IV Issues

The five-pound gold coin was first struck in 1820 during the final months of King George III's reign (1760–1820), as a pattern coin rather than for general circulation. Only 25 examples were produced at the Royal Mint in London, featuring an obverse with the aged laureate head of the king facing right, designed by Benedetto Pistrucci, and a reverse depicting St. George slaying the dragon, also by Pistrucci, symbolizing Britain's triumph over Napoleonic France. The coin weighed approximately 39.94 grams of 22-carat gold, equivalent to five sovereigns, but none entered circulation due to the king's death in January 1820 and the shift toward paper currency for high-value transactions. These patterns entered private and institutional collections, marking the denomination's revival after the guinea era and establishing the iconic St. George motif for future gold coinage. Under King George IV (r. 1820–1830), the five-pound coin reappeared in 1826 as part of the proof set issued to commemorate his coronation, with an estimated mintage of 150 to 225 pieces, all struck to proof standard and not intended for circulation. The obverse bore William Wyon's depiction of the bare-headed king facing left, while the reverse featured a crowned and mantled shield of the royal arms, by Jean-Baptiste Merlen, differing from the St. George design of the 1820 pattern. Measuring 38 mm in diameter and weighing 39.94 grams of 22-carat gold, these coins reflected the opulent style of the Regency period but remained collector's items due to the preference for banknotes in everyday high-denomination use. A single unique proof dated 1829 was also produced, likely as a presentation piece, featuring the same designs and further underscoring the rarity of the series during this reign. Overall, the George III and IV issues laid the groundwork for the denomination's role as a prestige coin, emphasizing artistic innovation and historical symbolism over practical utility.

Victorian Period

1839 Issue

The 1839 five-pound gold coin, known as the "Una and the Lion," was struck by the Royal Mint as a proof issue to commemorate the early years of Queen Victoria's reign, specifically two years after her ascension to the throne. Unlike circulating sovereigns, this coin was produced exclusively for presentation sets and collectors, with no intent for general circulation. It formed part of the 1839 Victorian proof sets, which were distributed beginning in 1843, and additional examples were struck sporadically thereafter to complete sets or for special purposes. The and production marked a revival of the five-pound gold piece, absent during the brief reign of , following earlier issues under and . The obverse features engraver William Wyon's iconic Young Head portrait of the 19-year-old Queen Victoria, facing left, with the Latin inscription "VICTORIA D: G: BRITANNIARUM REGINA F: D:" translating to "Victoria, by the Grace of God, Queen of the Britons, Defender of the Faith." The reverse depicts a symbolic scene inspired by Edmund Spenser's 1590 epic poem The Faerie Queene, portraying Victoria allegorically as Una—representing truth and the Church of England—guiding a majestic British lion, emblematic of the nation's strength and royal power. Una holds a cross-topped orb in one hand and a scepter in the other, with the inscription "DIRIGE DEUS GRESSUS MEOS" ("May God direct my steps") encircling the design. The coin measures 36.02 mm in diameter, weighs 39.94 grams, and is composed of 22-carat gold (0.9167 fineness), containing 1.177 troy ounces of pure gold. Some specimens feature an inscribed edge reading "DECUS ET TUTAMEN · ANNO REGNI TERTIO" ("An ornament and a safeguard · In the third year of the reign"). Approximately 400 examples were minted in , though estimates range from 300 to 500 when including minor varieties such as differences in edge lettering, hairband ornamentation, or the reverse inscription ("DIRIGIT" versus "DIRIGE"). The Royal Mint also produced trial versions in silver, copper, and other metals for evaluation. This limited production, combined with the coin's medallic artistry and high-relief striking, has cemented its status as one of the most aesthetically acclaimed British coins, often described as a pinnacle of 19th-century numismatic design. Its symbolic fusion of classical literature and imperial iconography underscores Victoria's early reign as a period of renewal and British dominance.

1887 and 1893 Issues

The 1887 and 1893 issues of the British five pound gold coin, also known as the quintuple sovereign, represented significant milestones in Victorian , marking the first widespread circulation of the denomination and transitions in royal portraiture. Struck at the Royal Mint in , these coins were produced in 22 carat gold with a standard weight of 39.9 grams, containing approximately 36.6 grams of pure gold, and a of 36 with a reeded edge. The reverse design for both years featured the iconic depiction of Saint George slaying the dragon, engraved by , a motif consistent with coinage since 1817. The 1887 issue commemorated Queen Victoria's Golden Jubilee, celebrating 50 years on the throne, and was the first edition available for general circulation at , unlike prior or proof strikes. Both uncirculated and proof versions were produced, with the obverse showing the Jubilee Head portrait by Sir Joseph Edgar Boehm, depicting the queen wearing a smaller and facing left, accompanied by the legend "VICTORIA D:G: BRITT: REG: F:D:" (Victoria, , Queen of the Britons, ). Mintage totaled 53,844 uncirculated pieces and 797 proofs, reflecting substantial production for the jubilee festivities, though few circulated widely due to the coin's high value. In 1893, the coin was reissued to introduce the Veiled Head (or Old Head) portrait, the final of Victoria's reign, designed by Thomas Brock and showing the queen draped in a , facing left, with the extended legend "VICTORIA DEI GRA BRITT REGINA FID DEF IND IMP" (Victoria, , Queen of the Britons, , Empress of ). This change aligned with broader currency redesigns to reflect Victoria's mature image. Production included 20,405 uncirculated coins and 773 proofs, a smaller quantity than , underscoring its relative rarity and limited circulation use. These issues bridged ceremonial and practical roles, enhancing the coin's prestige while serving as in an era of imperial expansion.

20th Century Issues

Edward VII and George V

During the reign of (1901–1910), the five-pound gold coin, also known as the quintuple , was issued in to commemorate his . This coin featured an obverse design by engraver George William de Saulles, portraying the king in a bare-headed profile facing right, inscribed with the Latin legend "EDWARDVS VII D:G: BRITT: OMN: REX F:D: IND: IMP:" ( King of all the Britains ). The reverse retained Benedetto Pistrucci's iconic depiction of St. George slaying the dragon, a design unchanged since 1817. Struck at the Royal Mint in , the coin measured 36.02 mm in diameter and weighed 39.94 grams in 22-carat gold (91.67% pure), containing 36.61 grams of fine gold. The 1902 issue was the last five-pound coin produced for general circulation in British history, with an estimated mintage of 34,911 standard pieces, though many were later melted down, leaving fewer survivors. Additionally, 8,066 matte proof versions were minted as part of special coronation sets, featuring a subdued finish for enhanced contrast. Under (1910–1936), the five-pound saw a single issuance in 1911, exclusively as a proof within the elaborate "long " proof sets prepared for his . The obverse was designed by Australian sculptor Bertram Mackennal, presenting a larger, more detailed laureate portrait of the king facing left, with the legend "GEORGIVS V D:G: BRITT: OMN: REX F:D: IND: IMP:" ( King of all the Britains ). The reverse again utilized Pistrucci's St. George motif, maintaining continuity with prior sovereign designs. These adhered to the standard specifications of 39.94 grams in 22-carat and 36.02 mm diameter, with 36.61 grams of pure content. Limited to a mintage of 2,812 pieces, the 1911 five-pound proofs were non-circulating and intended solely for commemorative purposes, reflecting the opulence of the ceremony held on 22 June 1911 at , attended by European royalty just three years before the outbreak of . No further five-pound issues occurred during 's reign, as the 's production shifted away from regular use amid evolving economic conditions.

Interwar and WWII Era

During the (1918–1939), production of the five pound coin at the Royal Mint ceased entirely, reflecting broader economic constraints and the suspension of coinage following . The demands of wartime financing had depleted Britain's reserves, leading to the of existing coins to stabilize the economy and a halt in new minting by 1918. No five pound coins were struck under after the 1911 proofs, as the denomination was not resumed even during the brief 1925 revival of production, which was limited to that smaller coin for international purposes. The in 1936 resulted in no coinage for his brief reign, maintaining the absence of five pound issues. Under , the only production occurred in 1937 to commemorate his , with 5,501 proof five pound coins included in special proof sets sold at . These coins featured Humphrey Paget's left-facing portrait of the king on the obverse and Benedetto Pistrucci's iconic St. George and the dragon on the reverse, mirroring the design tradition since 1817. Intended solely for collectors and not circulation, they represented a ceremonial exception amid ongoing restrictions on coinage. World War II (1939–1945) further entrenched the suspension, as the Royal Mint redirected resources to the war effort, producing coins and munitions while gold coin minting remained dormant. The abandonment of the gold standard in 1931 had already curtailed domestic gold coin production, with existing stocks melted or exported to support foreign exchange needs. No five pound gold coins were issued during the conflict, underscoring the denomination's rarity and the era's prioritization of economic austerity over numismatic output.

Modern Era

Elizabeth II Reign

During Queen Elizabeth II's reign (1952–2022), the five-pound gold coin, also known as the quintuple sovereign, saw a revival after a long hiatus since the early , primarily as collector's items rather than circulating currency. The Royal Mint resumed production in 1953 with proof examples included in coronation sets, though these were not released to the public and only a handful were struck for internal purposes. These early issues featured the queen's portrait by Mary Gillick on the obverse and the traditional reverse design of St. George slaying the dragon by . The modern era of five-pound gold coins truly began in with the introduction of proof quintuple sovereigns in annual sets, marking the first regular issuance since 1911 and featuring Arnold Machin's effigy of the queen. These coins, weighing 39.94 grams of 22-carat gold, were produced in limited mintages—such as 10,000 in and 5,400 in 1981—to cater to numismatists, with uncirculated versions following in 1984 (mintage of 15,104). Throughout the and , annual proof and brilliant uncirculated quintuple sovereigns continued with the Pistrucci reverse, often bundled in multi- sets, emphasizing the coin's role in the enduring sovereign series. In the final years of Elizabeth II's reign, production emphasized memorial and jubilee themes, including the 2022 quintuple with a royal coat of arms reverse (mintage to be confirmed) and a matte-finish brilliant uncirculated version (mintage 810). Following her death in September 2022, the Royal Mint released memorial five-pound coins in the range, featuring her and continuing the Pistrucci design, as a to her 70-year reign. Overall, these issues underscored the coin's evolution from pattern pieces to prestigious collectibles, with over 40 years of consistent production reflecting the stability of the British monarchy and the sovereign tradition.

Charles III Reign

The reign of , which commenced upon the death of on 8 September 2022, marked the introduction of new designs for the five pound gold coin, also known as the quintuple . The obverse of these coins features the first official effigy of the king, designed by Martin Jennings, depicting him facing left in uncrowned portrait for standard issues or with a crown for commemorative pieces. Struck by the Royal Mint, these coins maintain the traditional specifications of the series: a of 39.94 grams, a of 36.02 mm, and composition of 22 carat gold (91.67% pure gold), containing 1.177 troy ounces of fine gold. The inaugural issue under Charles III was the 2023 Coronation five pound gold proof coin, released to commemorate the king's coronation on 6 May 2023 at —the first such event in Britain since 1953. The reverse, designed by Timothy Noad, portrays atop a shield bearing the royal arms of the , encircled by the inscription "THE OF KING CHARLES III AND * D * G * REX * F * D * 6 MAY 2023." Limited to a maximum mintage of 735 pieces, this proof coin bears the edge inscription " SAVE OUR GRACIOUS KING." A brilliant uncirculated version of the five sovereign piece with the same design was also produced, limited to 450 coins, as part of the coronation sovereign range. Additionally, the coin appeared in five-coin proof sets (including single, double, half, and quarter sovereigns), with a set mintage of 1,050. Another significant 2023 release was the five pound gold proof coin marking Charles III's 75th birthday on 14 November. Featured in the Gold Proof Commemorative Coin Set, the reverse by Dan Thorne incorporates heraldic elements such as a supporter from the royal arms, a symbolizing , and a representing , reflecting the king's interests. The edge bears the inscription "RESTORING HARMONY WITH NATURE." The set, limited to 150 pieces, includes this coin alongside others in denominations from 50 pence to £2. A special striking occurred on the king's birthday itself, with 750 celebration sovereigns (single denomination) produced, though the five pound variant remained exclusive to the commemorative set. Standard five sovereign issues continued annually in proof and formats, reviving the traditional St. George and the Dragon reverse by for non-commemorative pieces. The 2024 five-coin gold proof set, limited to 450, featured the uncrowned and was struck to celebrate ongoing royal heritage. In 2025, the series marked the 200th anniversary of Merlen's back design (originally for the 1825 sovereign) with a special five-coin set including the five sovereign, limited to an unspecified edition but aligned with prior years' constraints. Commemorative issues persisted into 2025, including the five pound proof coin, the first to feature the king's personal royal arms—a design by Timothy Noad showing the above the quartered shield of , , and . Limited to a maximum mintage of 70 (with 60 available for presentation), it highlights the arms' use in official documents like passports. The 2025 Proof Commemorative Coin Set included a five pound coin honoring the 125th anniversary of Queen Elizabeth The Queen Mother's birth (8 1900), with a reverse by Dan Thorne depicting her portrait in profile, surrounded by floral emblems of her heritage. This set was limited to 50 pieces. These issues underscore the coin's role in celebrating monarchical milestones while preserving its status as a and collectible asset.

Collectibility

Market Value

The market value of British five pound coins, also known as quintuple sovereigns, is primarily influenced by their intrinsic content of 1.177 ounces of pure 22-carat , combined with numismatic premiums based on condition, rarity, mintage, and historical context. As of November 17, 2025, the melt value stands at approximately $4,814 per coin, reflecting spot prices around $4,090 per ounce. However, collectible specimens often command significant premiums over melt, especially in higher grades certified by services like NGC or PCGS, where eye appeal and can drive values 2–10 times higher or more for rare proofs. Bullion-grade or circulated examples from later issues trade closer to melt, while early Victorian and proofs fetch prices in the tens or hundreds of thousands of dollars. Victorian era issues, such as the 1839 "Una and the Lion" proof (mintage 400), are among the most valuable due to their low survival rates and artistic significance; average prices hover around $18,000 for mid-grade proofs, with NGC PR63 examples valued at $50,000 and exceptional pieces reaching up to $1,440,000 at auction in 2021. The 1887 Jubilee Head (mintage 53,844 ordinary, 797 proofs) trades near melt in lower grades (VF–MS62 at ~$5,000), but MS64 reaches $7,150 and PR65 $60,000 per NGC guides, with a recent MS61 selling for $6,750 in September 2024. The 1893 Old Head (mintage 20,405 ordinary, 773 proofs) averages $6,400 for regular strikes and $42,000 for proofs, with a record proof fetching $180,000 at in August 2024. Early 20th-century coins from the and reigns carry moderate premiums due to coronation issues and lower mintages. The 1902 coronation coin (mintage 34,911 ordinary, 8,066 matt proofs) averages $4,000 for regular strikes and $6,500 for proofs, with an AU53 graded example selling for $2,400 in a recent and a PF63 matte proof listed at $18,644. 's 1911 coronation issue (proof mintage of 2,812) commands higher values, averaging $11,000 for regular strikes and $17,000 for proofs, with a PR65 cameo realizing $18,600 at Heritage in 2022 and a recent PF63 at $15,028. Interwar and WWII-era pieces, such as the 1937 pattern (extremely rare, mintage unknown but few survivors), can exceed $100,000 in any condition due to their hypothetical status. Modern issues from the Elizabeth II reign, including annual quintuple sovereigns from 1980 onward and commemorative proofs, are more accessible and trade near melt for uncirculated bullion examples (~$4,800–$5,000), with premiums for low-mintage proofs like the 2002 (mintage 1,000) reaching $2,000–$3,000 over melt. The 2014 proof quintuple sovereign in PF70 ultra cameo condition is valued at approximately £4,410 ($5,700), reflecting modest numismatic appeal due to higher production. issues, such as the 2023 quintuple sovereign (mintage limited to proofs), follow similar patterns, with values starting at £4,250 for AU58 graded examples and rising for pristine proofs; the 2025 Royal Arms design BU (mintage 350) trades around $5,000–$5,500. Overall, market trends show steady appreciation tied to prices, with certified high-grade rarities outperforming bullion amid collector demand.
IssueGrade ExampleApproximate Value (USD, Nov 2025)Source
1839 ProofPR63$50,000NGC Price Guide
1887 OrdinaryMS63$5,000NGC Price Guide
1893 ProofPF66$180,000 (record)Heritage Auctions
1902 OrdinaryAU53$2,400PCGS Auction
1911 ProofPF63$15,028MA-Shops
2014 ProofPF70$5,700Royal Mint

Notable Auction Records

The most notable auction record for a five pound gold coin is held by a rare 1937 pattern issue featuring , which realized $2,280,000 at on March 25, 2021. Graded NGC PF66 Ultra Cameo, this coin—one of only six known examples struck but never officially issued—surpassed all previous benchmarks for British coinage, highlighting the premium placed on uncirculated patterns from the brief Edward VIII era. The sale underscored the coin's historical significance as a "what if" artifact of a reign cut short by . No higher records reported as of 2025. Prior to this, the record was set by an 1839 "Una and the Lion" proof five pound coin of Victoria, which fetched $1,440,000 at on August 19, 2021. Certified PCGS PR64 Deep Cameo, this example represents one of approximately 11 to 20 surviving specimens from the original proof set production, celebrated for William Wyon's iconic reverse design symbolizing youthful monarchy prevailing over adversity. Its sale reflected sustained demand for this seminal Victorian issue, often regarded as one of Britain's most artistic gold coins. Another high-profile transaction occurred in the same year for a second "Una and the " specimen, graded NGC PF66 Ultra Cameo, which sold for €984,000 (approximately $1,148,000) at the MDC auction on October 29, 2020. This sale established a temporary benchmark before the later records, emphasizing the coin's enduring appeal among collectors for its rarity and aesthetic excellence. In the same auction, a 1831 pattern proof five pound—struck as a using coronation crown dies in and graded NGC PR66* Ultra Cameo—also realized €984,000, tying the top price and marking it as a key rarity from the brief reign with no standard five pound production.
Coin DescriptionAuction House & DateSale PriceGrade
Edward VIII Pattern, 1937, March 25, 2021$2,280,000NGC PF66 Ultra Cameo
Victoria "Una and the " Proof, 1839, August 19, 2021$1,440,000PCGS PR64 Deep Cameo
Victoria "Una and the " Proof, 1839MDC , October 29, 2020€984,000 (~$1,148,000)NGC PF66 Ultra Cameo
Pattern Proof, 1831MDC , October 29, 2020€984,000 (~$1,148,000)NGC PR66* Ultra Cameo
These transactions illustrate the market's focus on proof and rarities, where condition and historical context drive values far beyond content, with prices escalating due to limited supply and institutional collector interest. Later sales, such as a 1831 pattern proof realizing £444,000 at Spink in 2023 and a 1839 "Una and the " PR62 for $234,000 at Heritage in November 2025, continue to command strong premiums but remain below the multimillion-dollar thresholds.

References

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