Featured Article Summary #74

The half sovereign is a British gold coin that is worth half of a pound sterling. It was first introduced in 1817 and has been produced by the Royal Mint in most years since 1980. The coin was originally introduced in 1544 but was discontinued after 1604. It was reintroduced in 1817 as part of the Great Recoinage. The half sovereign was widely circulated as currency until 1926 and was struck in London, Australia, and South Africa. Due to its difficulty to strike, it was considered for elimination in the 1880s. Production of the coin continued until 1926 and was then suspended until 1980. Since then, it has been struck for sale by the Royal Mint but does not circulate. The coin features a portrait of the reigning monarch and an image of Saint George and the dragon. The English coin, introduced by Henry VII in 1489, was initially valued at twenty shillings and depicted a crowned King Henry on the obverse. Under Henry VIII, the coin was debased due to war expenses, and the half sovereign was introduced in 1544. The coin continued to be struck under Edward VI and James I, but in 1604, James I reduced the weight of gold coinage and renamed the sovereigns and half sovereigns as unites and half unites. After the Napoleonic wars, Britain placed itself on the gold standard and introduced the sovereign as a gold coin valued at one pound sterling, replacing the guinea valued at twenty-one shillings. The half sovereign, valued at ten shillings, was introduced in 1817 and became the smallest gold coin in regular use. However, the first few years of the half sovereign's existence were troubled. During the reign of George IV, the first type of half sovereign had to be withdrawn because it looked too similar to the sixpence, making it easy to gild and pass off as a half sovereign. The design was changed and the half sovereign was struck every year through 1829. During the reign of William IV, half sovereigns were not issued for circulation until 1834, but proof coins were issued in 1831 and they continued to be issued in 1835, 1836, and 1837. The 1834 issue had a smaller diameter, possibly so that tools and dies for the Maundy fourpence could be used, and some 1836 and 1837 half sovereigns had a slightly different obverse, potentially due to an error by the Royal Mint. A statement of value was added to the sixpence during this reign to prevent fraud. Queen Victoria's reign spanned from 1837 to 1901, with the first half sovereigns issued in 1838. The coins featured a portrait of Victoria on the front and a shield on the back. Variations in design and size were introduced over time, and branches of the Royal Mint were established in Australia, which also struck half sovereigns. There were attempts to abolish the coin in the 1880s, but it continued to be minted until 1901.