A sovereign contains roughly 0.2388 troy ounces of gold. At the current gold price, £1092.40 per troy ounce, you are looking at a value of around £260. Most gold sovereigns sell for around that on ebay. A half sovereign is obviously worth half of that: £130.
If you mean purchasing power, I can't be sure but I believe a half sovereign would be the equivalent of around £75 by today's standards. I was looking myself for information on the purchasing power specifically, but the closest approximation I can find compares the value of a 1895 sovereign to £150 in 2007. I don't think it would have changed much.
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