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Any value would depend on the year and condition of the coin. At the very least, it will be worth its gold content at current gold values.
Well, you are certainly correct about it being odd. The last Half-Sovereign coins minted with Queen Victoria's image on them, were dated 1901. A genuine 22 carat gold Half-Sovereign is 19.3mm in diameter and weighs 3.99 grams. A 1915 Half-Sovereign should have King George V on the obverse and St George and the dragon on the reverse. 1915 was not a significant year for the commemoration of any momentus events in the life of Queen Victoria, so it is unlikely that the coin is a commemorative souvenir, medallion or token. If the coin does not match the specification for a genuine Half-Sovereign coin, it is quite possible that the coin is a gambling token made from something much cheaper than gold.
Please check your coin. Queen Victoria died in 1901 and has not appeared on any Sovereigns coins since then.
George I, George II, George III, George IV, William IV, Victoria
Your coin is either a Two Pound (Double Sovereign) or a Five Pound (Quintuple Sovereign). They are both made from 22 carat gold and are almost identical except for size, the Quintuple Sovereign (36 mm) being significantly larger than the Double Sovereign (28.4 mm). A British 1887 gold Two Pound coin (Victoria), uncirculated and in absolute mint condition could fetch up to £700 GBP. If it has been circulated but still in good condition, it might fetch anything from £300 to £500 GBP. A British 1887 gold Five Pound coin (Victoria), uncirculated and in absolute mint condition could fetch up to £1,750 GBP. If it has been circulated but still in good condition, it might fetch anything from £750 to £1,150 GBP. A reputable coin dealer will be able to give a more accurate valuation and be able to assist with positive identification.
There were never any British Two and a Half-Sovereign coins minted.
Any collector value would depend on the year and condition of the coin. At the very least, it will be worth whatever the current price of gold might be. A mint condition Sovereign contains 7.322381 grams of gold. Currently gold is at about $1,790 USD per ounce. That makes the gold content of a Sovereign coin worth about $79 USD.
No. Modern Sovereign coinage was first introduced in 1817. The Sovereign coinage was preceded by Guineas and the spade shield design was not used on any Guinea coinage.
This depends on what denomination the coin is (half sovereign or sovereign), whether it has a mintmark below the horse's feet centrally above the date, and what condition the coin is in. A good site to help you is http://www.coins-of-the-uk.co.uk
Queen Victoria died in 1901 and the last British coins issued with her likeness were issued in 1901. King George V appeared on all British coins from 1911 onwards. However, since 1911 is ten years after the death of Queen Victoria, it may be some sort of commemorative medallion or token.
No. Since 1817, the standard for the minting of British gold coins is 22 carat.
Yes. The concept of a commemorative coin as we know it today did not catch on until the 1970's however, British commemorative coins have been issued for nearly 200 years. It was the practice to issue a gold Five Pound coin (Quintuple Sovereign) for the coronation of a new king or queen, or for a Silver, Gold or Diamond Jubilee. There was often a Crown coin issued for these occasions as well. Neither coin had an inscription or a specially designed image indicating the nature of the commemoration as is the case today. 1893 was Queen Victoria's Diamond Jubilee year and a gold Five Pound coin (Quintuple Sovereign) was issued for the occasion. Although substantially larger, the coin has the same general appearance as any Sovereign coin issued for the period 1893 to 1901 showing the old veiled bust of Queen Victoria.