British Shillings were never minted in gold. It was only ten years earlier that were no longer minted in 50% silver.
Your coin may have been plated. Modified coins have no value.
Sorry, meant a 1962 Gold Two Shilling coin - maybe commemorative 10 year?
I don't believe there have been any gold 50 cent coins dated 1957 with Elizabeth II on them. Instead, they'd be merely gold plated. Most likely, you've got a Canadian half dollar that has been gold plated, the gold plating adds no value and its worth about $7.
Modified coins have no collector value.
The British Shilling has never been made from gold, and has always been made from silver. From 1920 onwards, the Shilling and all other British silver coins, were debased from Sterling silver (92.5%) to 50% silver.
From 1816 to 1919 inclusive, British Shillings were minted from 0.925 fine silver. The only exception to this was a Proof in gold FDC Shilling in 1816 which is so rare it is unlikely to exist outside of a museum. If you do have a gold 1860 Shilling, it is because somebody has plated it, rendering it worthless as a collectible.
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Please check your bill again. As the banner across the top indicates, it's a silver certificate, not gold. All gold certificates were withdrawn in 1933. There's more information at the question "What is the value of a 1957 US 1 dollar silver certificate?"
Please check again and post a new question. The U.S. stopped issuing gold coins and gold certificates in 1933.
The coin would be a 1957 British gold Sovereign. The Roman soldier would be St. George going about slaying the dragon.
1957. Value from $450-$1400.
Anything minted for circulation in the 1970s would be copper-nickel, not silver. You'll need to provide different information. The "dg reg..." motto appears on ALL coins of the British commonwealth so that doesn't help ID it. If it has a country name on it, that's important. If it doesn't and says PENCE instead of CENTS, that's important too. However, the bottom line is that any commonwealth coin with that value is going to be worth very little because it almost certainly is or was a common circulation coin.
You might want to check your coin. Elizabeth II was born in 1926 and did not become queen until 1953.