How much was a sovereign worth in 1692?

Answer 1

British Coins of 1692 were those of William and Mary. For this reign, the old hammered sovereigns had long ceased, and modern milled sovereigns (20 shillings) were not minted till George III's reign, in 1817. So there are no sovereigns of 1692. Just guineas. To-day a guinea (the term still being used occasionally in auction bidding) is 21 shillings, but neither sovereigns nor guineas had any set value. At the beginning of the reign, 1688, guineas were valued at 21/6d, but by 1694 they circulated for as much as 30s. If you have a gold coin of William and Mary, you first need to find whether it is a half-guinea, guinea, double guinea, or 5 guinea piece. The latter was not minted that year. All these milled gold coins were of 22 carats gold; if they were worn, or clipped, the shop or bank would be likely to weigh them on scales, and take off value for underweight coins. Even households had these tiny pocket scales. And of course, if the price of gold rose significantly, gold coins disappeared to hoarders and melters.

Answer 2

The face value of the modern 22 carat gold Sovereign issued since 1817 is One Pound (or 20 Shillings or 240 old Pence).

The "Tudor" gold Sovereign introduced by Henry VII, which is a completely different coin to the modern Sovereign, had values ranging from 20 Shillings to 30 Shillings at different times.

Answer 3

The Sovereign coin did not exist in 1785, but if it had -

One Sovereign GBP in 1785 had the purchasing power of about £94.70 GBP today.

NOTE - This historical conversion is the result of many calculations and considerations by a purpose designed program for which I can take no credit. The resulting answer should only be regarded as an approximation.

Answer 4

The sovereign was a gold coin worth one pound, which was 240 pence.

Answer 5

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Answer 6

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