The sovereign 1878 is a British gold coin minted under the reign of Queen Victoria at the colonial Australian branch mints in Melbourne and Sydney. The 1878 Queen Victoria “Young Head” with St George Back Gold Sovereigns, (originally a circulating coin, now a bullion coin) are now VAT free in UK and provided they were minted after 1817 and a legal tender coin, free from Capital Gains Tax for UK residents. They also are VAT free in European Union, the sovereigns meeting the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC of 28 November 2006 (special scheme for investment gold). The 1878 Young Head sovereign were minted with 2 different reverses: Shield and St. George. 1878 Victoria young head shield reverse gold sovereigns were only struck by the Sydney Mint.
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Young Head Sovereigns Are a Smart and Affordable Gold Investment”
Young Head sovereigns generally sell for a small premium over spot price. When reselling, the mint location has minimal impact on profitability, so if you’re stacking, it’s wise to opt for the most affordable option. With low premiums and a convenient size, sovereigns are a popular choice in England as the standard gold coin. Additionally, they are free from capital gains tax, making them an attractive investment choice. Ultimately, choose the one that appeals to you most.
| Mintmark | Mint | Mintage |
| London | 1,091,275 | |
| M | Melbourne, Australia | 2,171,457 |
| S | Sydney, Australia | 1,259,000 |
| Total | 4.521.732 |
1878-M Melbourne Australia Victoria Gold Sovereign.
The sovereign was issued during the reign of Queen Victoria and minted at the Melbourne branch. In 1878, only the Sydney Mint produced the Victoria Young Head Shield Reverse gold sovereigns, with a total mintage of 2,171,457. These Young Head sovereigns typically sell for a small premium over spot price. When it comes to resale, the mint location has little impact on profitability, so if you’re stacking, it’s best to choose the most affordable option. Ultimately, select whatever appeals to you.
1878-M Melbourne Victoria Gold Sovereign Obverse
1878-M Melbourne Victoria Gold Sovereign Reverse
| Diameter (mm) | Weight (gr) | Thickness (mm) |
| 22,05 mm | Gross weight: 7,99 Gr Fine Gold: 7,32 Gr – 0.2354 troy ounce. | 1,52 mm |
| Edge and Orientation. | Millesimal fineness. | Composition. |
| ➣ Reeded / Milled ➣ Medal alignment ↑↑ | 22 carats; 917 ‰ | 91.67% gold and 8.33% Copper. |
| Mint and Mintmark | Financial Features | Mintage. |
| « The Royal Mint » Australia mints. | Type: bullion coin. Production Years: 1817–present. Legal tender in the United Kingdom, value £1 = 20 shillings. | 1878 with 4.521.732 bullion coins. |
| Reverse: | Portrait by William Wyon. Matte background with matte bust of queen Victoria facing left. VICTORIA D:G: BRITANNIAR REG: FID:DEF:” Translated from Latin: Victoria by the Grace of God King of the Britons, Defender of the Faith.) |
| Obverse: | Benedetto Pistrucci’s St George on horseback slaying the dragon right; 1878 and B.P. in exergue inscribed at the bottom. |
A relatively flat design allows the young head obverse to show little wear. The mains point to check for strike & wear are :
- The hair juste on the double ribbon,
- The hair above the ear,
- The knotted bun area,
- The peaks of the eyebrow,
- As always, the rims and fields.
When collectors examine a sovereign with the St George reverse, there are a certain number of points which are examined closely for strike & wear. From top to bottom, they are:
- The crest of St George’s helmet;
- St George’s chest, together with the strap & pin fastening his cloak;
- The bridle as it crosses the horse’s neck;
- The muscle separation in St George’s upper thigh;
- The horse’s forequarters & rump;
- The “bloodline” in the sword;
- The upper band across St George’s boot;
- The dragon’s torso below it’s neck.