The main Indian Government Mint i is one of the five mints in India situated in the city of Mumbai (formerly Bombay). The Mint was established in 1829 by the then governor of the Bombay Presidency. The mint is situated just opposite the Reserve Bank of India, in the Fort area of South Mumbai.
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The 1918 Bombay Mint Sovereign: A Common Coin with Uncommon Historical Significance.
These sovereigns were minted at the Bombay Mint exclusively in 1918, a result of World War I exigencies. Traditionally, the Royal Mint opted to produce coins at branch mints close to gold sources to avoid the risks of shipping raw materials back to England. This strategy began in the 19th century with the first branch mint opening in Sydney in 1871, followed by Melbourne in 1872 and Perth in 1899. The Ottawa Mint in Canada also started production in 1908. During the First World War, the German Navy’s targeting of gold shipments from South Africa to London necessitated a secretive redirection of gold to India, where the Bombay Mint produced the 1918 sovereigns marked with an ‘I’ for India. Post-war, minting in India ceased, making these coins highly sought after by collectors. Despite an initial mintage of nearly 1.3 million, many have since been melted down, increasing their rarity and value. The obverse features Australian sculptor Sir Edgar Bertram Mackennal’s portrait of King George V, while the reverse showcases Benedetto Pistrucci’s iconic depiction of George slaying the dragon, with the ‘I’ mint mark just above the date. While these coins are not exceedingly rare due to their high mintage and subsequent restrikes prior to 1970, their historical significance keeps them in demand.
The King George V “Large Head” 1918 sovereign
The King George V “Large Head” 1918 sovereign is the only sovereign produced in India. obverse appeared on British sovereigns during an era of change and turmoil. The Bombay Mint, dating from 1672, is one of the oldest mints in Asia and produced coins for the East India Company and later administrations down to the present day.
| Sovereign | |
| Gold Sovereign 1918 India Mint | 1,294,372 / 1,296,033 |
A gold refinery was established in 1918, expressly for the purpose of refining the South African gold. During 1919 and 1920 almost two million tolas of gold was refined. In addition to imports from the Rand mines, a vast quantity of gold was brought to the mint as a result of a wartime measure known as the Gold Import Act. A suitable structure, designated as a branch o
Lieutenant General John Archibald Ballard was appointed mint-master at Bombay in 1861 and he presided over the Board of Trustees of the Bombay port from 3 July 1873 until May 1876.
Between 1862 and 1947 in Bombay, the Mint produced what were called Regal Issues. These had a portrait of Queen Victoria and were mainly of small denominations plus 6- and 10-rupee coins and a 1 mohu gold coin.
In 1918 the Bombay Mint struck Gold Sovereigns and 15-rupee coins identical in size as an emergency measure, due to the First World War.
Sovereigns were only produced in Bombay for one year.
in 1918. They had the mint Mark b. Initially governed by the Governor of the Bombay Presidency, it was transferred to the Government of India on 18 May 1876 through a Finance Department Resolution 247. In 1918, a branch of the Royal Mint of London was set up to issue British sovereigns. In April 1919, after manufacturing 12.95 lakh (1.295 million) coins, it was shut down. Gold is very valuable inside India and visitors are searched by customs officers at the airport or harbour of entry to the country.
The Royal Mint & MMTC-PAMP India Alliance, 2013
On February 17, 2013, a historic partnership was formed between the Royal Mint and MMTC-PAMP India, marking the first time in nearly a century that gold sovereign coins would be produced in India. This five-year license agreement allowed the MMTC-PAMP facility in Rojko-Meo Industrial Estate, Mewat District, Haryana, to strike commemorative Indian Sovereigns.
Coin Design and Production
As with the sovereigns produced at the Royal Mint in the UK, the obverse of these Indian sovereigns features the official circulating coinage portrait of Her Majesty Queen Elizabeth II. The reverse bears the classic depiction of St. George and the Dragon, designed by Benedetto Pistrucci. These coins are distinguished by the “I” mint mark, a nod to their Indian production.
The Royal Mint in South Wales, UK, supplied the unique dies and tooling required for the coin strikes. The quality of the minted coins was guaranteed by the annual Trial of the Pyx, ensuring they met the high standards expected of sovereign coins.
Distribution and Availability
Initially, these commemorative sovereigns were available for purchase through MMTC-PAMP India’s official distribution network. They were later sold at selected banks, jewellers, and online retailers. The first production run included 50,000 pieces, which were made available to the market immediately, coinciding with British Prime Minister David Cameron’s visit to India.
Historical Context and Significance
This alliance revived a tradition that had been dormant since 1918, when the Royal Mint last operated a branch in India, producing 1.3 million coins in a single year. Indian residents had been unable to buy commemorative sovereigns since then.
Gold Market in India
India is the largest consumer of gold, where gold coins play a vital role in wedding ceremonies and festival celebrations. The country’s gold medal market is substantial, estimated at around 80 tonnes per year by consultancy Thomson Reuters GFMS.
This partnership between the Royal Mint and MMTC-PAMP India not only brought commemorative sovereigns back to the Indian market but also strengthened the cultural and economic ties between India and the UK.
The 2013 Indian Sovereign – Commemorative First Strikes.
Design and Features.
The obverse of the 2013 Indian Sovereign features the fourth effigy of Queen Elizabeth II, the circulating coinage portrait at the time. Distributed by selected Indian retailers and the Royal Mint, the 2013 Indian Sovereign has become highly sought after by both world sovereign and modern gold coin collectors. Its scarcity outside of India and high demand have led to rapid sales and strong prices on the secondary market. Originally sold at the Royal Mint for £800 each (approximately AU$1,600 including GST), the coins quickly sold out and are now available only through secondary channels.
Mintage and Availability.
The initial production run of the 2013 Sovereigns included 50,000 pieces, but the total mintage eventually reached 94,790. Despite this relatively high number, the commemorative first strikes remain particularly scarce. The exact number of these first strikes is unknown, but they hold a special significance and are highly valued among collectors.
Commemorative Launch and Special Sets.
To celebrate the return of the Sovereign to India, a special commemorative set was commissioned from among the first strikes of the 2013 Sovereign. These sets were gifted to select VIP guests at a celebratory launch party in New Delhi. Each set comprised a 2013 Sovereign graded GEM UNCIRCULATED by NGC and was presented in a wooden case with a special Certificate of Authenticity.
Grading and Authenticity.
The GEM UNCIRCULATED grade, equivalent to an MS 65 or MS 66, was used for these commemorative sovereigns. Given their status as first strikes, it is conceivable that their actual numeric grades could be even higher. To verify that a GEM UNCIRCULATED 2013 Indian Sovereign originates from the batch of first strikes, collectors should look for the unique Certificate of Authenticity. Unlike the cream-coloured paper-foldout certificate that accompanied regular carded 2013 Indian Sovereigns, this certificate is printed on large, two-sided red cardstock paper.
Market Impact and Collector Interest
The 2013 Indian Sovereign has proven to be a hit in the market, particularly among collectors in India and abroad. Due to the impenetrable nature of the Indian market, these coins have been tough to find outside of India. When a few pieces have slipped out, they have sold quickly and at a premium. The combination of limited availability, historical significance, and the prestige of being part of the first strikes has made the 2013 Indian Sovereign a prized addition to any collection.
The Sovereign 2019 Gold Sovereign Struck in India.
The Royal Mint proudly presents The Sovereign 2019 Gold Bullion Coin, struck in India and available in limited numbers. Originally revived in 1817 to restore financial stability after the Napoleonic and French Revolutionary wars, The Sovereign has earned its reputation as the ‘chief coin of the world’. Struck in 22-carat gold and specified to five decimal places, it epitomizes minting quality, integrity, and accuracy.
These bullion Sovereigns are produced by MMTC-PAMP in India under licence from the UK’s Royal Mint and are legally British currency, making them exempt from Capital Gains Tax and VAT. Historically, Sovereigns circulated across the British Empire in the nineteenth and early twentieth centuries, with colonial branch mints established to meet demand. For a brief period in 1918, these prestigious coins were struck in Bombay. Although the last overseas branch mint of The Royal Mint closed in 1932, recent editions of the Sovereign can still be collected with an ‘I’ mintmark. Since 2013, Sovereigns have been minted both at the Royal Mint’s facility in Llantrisant, Wales, and under licence in Haryana State, India.
The reverse of the coin features the legendary St George and the dragon design by Benedetto Pistrucci, with the tiny mint mark appearing in the ground above the date and below the slain dragon. The obverse bears the fifth official UK coin portrait of Elizabeth II by Jody Clark. MMTC-PAMP manufactures these collectible Sovereigns to the same specifications as their UK counterparts, with a total weight of 7.98 grams of 22-carat gold and a diameter of 22.05 millimeters. Each coin is struck to bullion uncirculated standard and presented in an attractive red plastic sleeve with a card presentation case.
SPECIFICATION
| Specification | Value |
|---|---|
| Alloy | 22 Carat Gold |
| Weight | 7.98 g |
| Diameter | 22.05mm |
| Reverse Designer | Benedetto Pistrucci |
| Obverse Designer | Jody Clark |
| Specification | Value |
|---|---|
| Quality | Bullion |
| Year | 2019 |
| Pure Metal Type | Gold |
| Fineness | 916.67 |
| Packaging | Sovereign branded deluxe presentation box |
| Additional Features | Has an Indian “I” mark between the 0 and 1 |
The 2024 Sovereign of India
This is the last sovereign to come from the Indian mint. Licensed by the Royal Mint of the UK to issue these coins, along with Australia, Canada, and South Africa, the Indian mint had to stop minting these 22K coins when it became LBMA compliant in 2020 and was contractually obligated to produce only 24K products. What sets the Sovereign 2024 apart are its exceptionally low quantities, making each coin a symbol of exclusivity. The classic design, remastered by our team of engravers, seamlessly combines traditional craftsmanship with modern minting techniques. The result is a coin that not only stands as a tribute to its historical roots but also proves its ability to withstand the test of time.