Gold Market Insights

Gold Sovereign 1922 « GEORGIVS V D.G.BRITT».

The sovereign 1922 is a British gold coin minted only at the colonial Australian branch mints in Perth, Melbourne and Sydney. “Only” 3 million gold sovereign coins were struck this year, the mintage for 1922 was quite low.  1922 is one of the more difficult dates of George V. Minted under the reign of Goerges V, the 1922 King George V Large Head 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).

MintmarkMintMintage
MMelbourne, Australia608,000
PPerth, Australia2,298,000
SSydney, Australia578,000
 Total3,484,000
1922 Sovereigns Mintage
No sovereigns minted in London in 1922
Diameter (mm)Weight (gr)Thickness (mm)
22,05 mmGross 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 MintmarkFinancial FeaturesMintage.
« The Royal Mint » Australia mints.Type: bullion coin.
Production Years: 1817–present.
Legal tender in the United Kingdom, value £1 = 20 shillings.		1922 with 3,484,000 bullion coins.
Specifications for the Gold Sovereign 1922.

Australia Sovereign 1922 George V P Perth mint.

These 1922 Sovereigns are notable for the tiny Perth ‘P’ mintmark, which can be found on the ground beneath the fearsome beast.

Obverse of 1922 Perth Sovereigns:

The obverse of these coins features the first version of Edgar Bertram Mackennal’s portrait of King George V, commonly referred to as the ‘large head’ engraving. The legend surrounding the portrait reads: ‘GEORGIVS V D. G. BRITT: OMN: REX F. D. IND: IMP:’.

Reverse Design of 1922 Perth Sovereigns:

The reverse showcases Benedetto Pistrucci’s iconic engraving of St George slaying the dragon, a design first introduced on Sovereigns in 1817. The tiny ‘P’ mintmark, representing Perth, can be found on the ground beneath the scene, with the date ‘1922’ just below it.

Australia Sovereign 1922 George V  M Melbourne Mint.

A 1922-M Gold Sovereign is an extremely rare coin, with availability almost nonexistent. Any examples that do appear attract significant attention, making valuations challenging due to the limited number of sales. However, such a coin in mid-grade condition (midpoint between VF and EF) is valued around £7,000 – £8,000. This rarity and classic status make it a prized example of 1920s sovereign coins.

Reverse: Portrait by Edgar Bertram Mackennal. Matte background with matte bust of King George V facing left. Legend  GEORGIVS V D.G.BRITT:OMN:REX F.D.IND:IMP Translated from Latin: George the Fifth, by the Grace of God, King of all the Britains, Defender of the Faith, Emperor of India.
Obverse:St George on horseback slaying the dragon right; 1922 and B.P. in exergue.

Australia Sovereign 1922 George V S Sydney Mint.

One of the most significant dates in the George V Sovereign series is the 1922 Specimen Sovereign from the Sydney Mint. Although 578,000 pieces were originally minted, the vast majority were melted down or destroyed, leaving only a handful of surviving examples—perhaps just a few dozen. This extreme rarity places the 1922 Sydney Sovereign among the most coveted coins in the series, rivaling or even surpassing the scarcity of the 1917 London Sovereign. The 1922-S Gold Sovereign, rated R3 by Marsh, is an exceptionally rare coin. While both the 1922-S and 1923-S are exceedingly scarce, the 1922-S is slightly less expensive. Bidding for either coin typically starts around £20,000, with final prices usually ranging between £20,000 and £30,000 per coin. The 1923-S, rated R4, might even exceed this range. Due to their rarity, these coins are more likely to appear at auction than in fixed sales, with final prices reflecting demand and often setting new benchmarks for future valuations.

Obverse of 1922 S Sydney Mint Sovereigns.

Reverse of 1922 S Sydney Mint Sovereigns.

How to grade a Sovereign 1922.

Discerning collectors examining a large Head Georges V sovereign will check various main points when grading this obverse:

  • The peaks of the eyebrow and upper cheek;
  • The fine detail in his moustache;
  • The broad area of hair above the ear & towards the fringe;
  • The neck muscle between his ear and the base of his neck.
  • Weakness will show in a lack of definition of the hair including beard and moustache;
  • The top of the ear which would show a lack of sharpness on a weak strike;
  • 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 its neck.
KING GEORGE V GOLD SOVEREIGNS.