{{Use dmy dates|date=April 2026}} {{Use British English|date=February 2024}} {{short description|British gold bullion and collectors' coin}} {{Infobox Coin | Denomination = Quarter Sovereign | Country = United Kingdom | Value = £0.25 | Unit = [[pound sterling]] | Gold_troy_oz = .0588 | Mass = 1.997 | Diameter = 13.5 | Thickness = | Edge = Milled | Composition = .917 gold, .083 copper or other metals | Years of Minting = 2009–present | Obverse = File:2009 quarter sovereign obverse.jpg | Obverse Design = Reigning British monarch ([[Elizabeth II]] shown) | Obverse Designer = | Obverse Design Date = | Reverse = File:2009 quarter sovereign.jpg | Reverse Design = [[Saint George and the Dragon]] | Reverse Designer = [[Benedetto Pistrucci]] | Reverse Design Date = 1817 (first used on quarter sovereign in 2009) }} The '''quarter sovereign''' is a British gold [[bullion coin|bullion]] and [[coin collecting|collector's coin]], issued by the [[Royal Mint]] since 2009. The smallest in the [[sovereign (British coin)|sovereign]] range, it has a [[face value|nominal value]] of one-quarter of a [[pound sterling]] (25 [[pence|p]]).
In 1853, the Royal Mint produced two [[Pattern coin|patterns]] for a quarter sovereign for circulation, with one denominated as five [[shilling]]s.{{efn|Until 1971, Britain used a monetary system where 20 shillings equalled one pound sterling; thereafter the pound was divided into 100 pence.}} These coins never went into production, due to concerns about their small size and the likely wear in circulation. Gold passed from circulation in the aftermath of the [[First World War]].
Beginning in 1979, the Royal Mint began to sell sovereigns to those wishing to own gold coins, by the following year selling four different denominations, ranging from the [[half sovereign]] to the [[five pounds (gold coin)|five-pound gold coin]]. In 2009, a quarter sovereign was introduced as an extension of this range. The quarter sovereign shares the same design as the larger coins, depicting on the [[obverse]] the reigning monarch, [[Elizabeth II]] or, since 2022, [[Charles III]]. Although there are some one-year designs, the one most often used on the [[obverse and reverse|reverse]] of these issues is [[Benedetto Pistrucci]]'s depiction of [[Saint George and the Dragon]], which was first used on the sovereign in 1817.
==Victorian pattern coin == {{for|further information regarding the beginnings and history of the modern sovereign coinage, as well as discussion of the St George and dragon reverse design|Sovereign (British coin)}} {{Featured article}}
[[pattern coin|Pattern gold coins]] valued at a quarter sovereign (five shillings) were struck in 1853, as the [[Royal Mint]] reconsidered which denominations were to be struck in gold and which in silver. At this time, the mint could not process both gold and silver simultaneously, and such a coin was seen as an alternative to the larger silver coins, such as the [[florin (British coin)|florin]] and [[half crown (British coin)|half crown]].{{sfn|Clancy|pp=75, 102}} In 1853, there was heavy demand for coins of both metals, but the Royal Mint gave priority to the more valuable gold coinage, such as the [[sovereign (British coin)|sovereign]] (the gold coin valued at one pound sterling). On 7 March 1853, the [[Chancellor of the Exchequer]], [[William Gladstone]], explained to the House of Commons that the demand for gold was so heavy that there was no opportunity for the Royal Mint to coin silver.{{sfn|Dyer|pp=74–76}}
{{multiple image | width = 100 | image1 = 1853 gold five shillings obverse.jpg | alt1 = Coin with head of Queen Victoria | image2 = 1853 gold five shillings reverse.jpg | alt2 = Coin with inscription "Five shillings 1853" | image3 = 1853 quarter sovereign reverse.jpg | alt3 = Coin with inscription "Quarter sovereign 1853" | footer = The two patterns struck in 1853. The common obverse is to the left of the two reverses. }} During the 18 April 1853 sitting of the House of Commons, either [[Edward Divett]] (per [[Hansard]]) or the former chancellor, [[Benjamin Disraeli]] (per a press account), asked the [[Financial Secretary to the Treasury]], [[James Wilson (businessman)|James Wilson]], if consideration had been given to striking a quarter sovereign. Wilson replied that the government had directed that a die be prepared as an experiment. He noted that one difficulty with such a coin was that it would take four times as long to coin the same gold as with a sovereign.<ref>{{cite news|via=Newspaper.com|newspaper=[[The Morning Post]]|date=19 April 1853|page=3|url=https://www.newspapers.com/article/the-morning-post/130105367/|access-date=August 16, 2023|title=House of Commons – Monday|archive-date=16 August 2023|archive-url=https://web.archive.org/web/20230816132938/https://www.newspapers.com/article/the-morning-post/130105367/|url-status=live}}</ref><ref name="hansard">{{cite web|title=State of the coinage|publisher=[[Hansard]]|date=18 April 1853|url=https://api.parliament.uk/historic-hansard/commons/1853/apr/18/state-of-the-coinage|access-date=13 December 2023}}</ref> Wilson stated that such a coin would be of very small size, about the size of an American [[Gold dollar|one-dollar gold coin]], which he held in his hand as he made his statement.{{sfn|Dyer|pp=76–78}}
By the end of the month, the [[Master of the Mint]], Sir [[John Herschel]], was able to present to the Treasury two quarter-sovereign [[pattern coin]]s.{{sfn|Dyer|p=76}} Both of the patterns depicted, on the obverse, [[Queen Victoria]] as shown on the early issues of [[sovereign (British coin)|sovereigns]] of her reign, with her name and abbreviated titles. The reverse of one of the patterns was inscribed {{small|FIVE SHILLINGS 1853}} with a crown above the inscription and a rose, thistle and shamrock below it. The other had the inscription {{small|QUARTER SOVEREIGN 1853}}, with, between the 8 and the 5, a crowned square [[coat of arms|shield of arms]].{{sfn|Hocking|p=192}}
The report that Herschel presented with the pattern coins demonstrated that it would be very expensive to strike them for commerce, as they would have to meet exacting standards, and would wear quickly in circulation. Herschel explained that such a coin would circulate faster than larger gold coins, leading to increased wear, and that the very small size would make the coin easy to lose. The light weight would make it difficult to detect counterfeits. He estimated that gold would be lost to the public (either through misplacing the coins or through abrasion) at fifteen times the rate for the same value of sovereigns.{{sfn|Dyer|pp=76–78}}
At the time, a parliamentary select committee was considering decimal coinage, and both Herschel and [[Thomson Hankey]], former governor of the [[Bank of England]], gave evidence before it. [[William Miller (cashier)|William Miller]] of the Bank of England also testified. All opposed the quarter sovereigns due to the expense of striking and maintaining them, and the committee did not recommend the quarter sovereign. No further action was taken on the quarter sovereign proposal; numismatic writer G. P. Dyer suggested that Herschel would not have spoken so negatively about the quarter sovereign to the select committee unless he knew the proposal was doomed.{{sfn|Dyer|pp=78–79}} A quarter sovereign was proposed again by the new Master of the Mint, [[Thomas Graham (chemist)|Thomas Graham]], in 1859, but was turned down by Gladstone.{{sfn|Dyer|pp=78–80}}
Pieces purporting to be quarter sovereigns dated 1911 or 1922 are not genuine, but are modern inventions.{{sfn|Dyer|p=79 n.25}}
==21st-century bullion and collector's coin == === Background and authorisation === Striking of sovereigns for circulation had come to an end by 1932, with most issues after the start in 1914 of the [[First World War]] coined at the branches of the Royal Mint in Australia and South Africa, where economic conditions were different than in Britain.{{sfn|Clancy|pp=89–92}} In 1979, the Royal Mint struck sovereigns for sale to collectors.{{sfn|Clancy|p=99}} The following year, it coined, also for collector sale, the sovereign as well as the [[half sovereign]], [[double sovereign]], and [[five pounds (gold coin)|five-pound piece]]. These four denominations continued to be issued in most years,{{sfn|Spink|p=155}} sold at a premium to their gold value.{{sfn|Clancy|p=99}} In 1987, the Royal Mint started to issue the [[Britannia (coin)|Britannia gold issues]], [[bullion coin|bullion pieces]] issued in competition with those of other nations.{{sfn|Spink|p=188}} Despite the issue of the Britannia pieces, the sovereign range continued to be struck, as the Royal Mint found that the sovereign's history meant that some preferred it to the Britannia; others admired the sovereign's design.{{sfn|Clancy|p=100}}
In 2009, the Royal Mint added quarter sovereigns to the range. Since 21st-century gold coins do not go into circulation, the objections of the 1850s did not apply.{{sfn|Clancy|p=102}}<ref>{{Cite web|url=https://goldsovereigns.co.uk/quartersovereigns.html|title=Quarter Sovereigns – Available February 2009|website=goldsovereigns.co.uk|access-date=29 November 2023|archive-date=9 December 2023|archive-url=https://web.archive.org/web/20231209200615/https://goldsovereigns.co.uk/quartersovereigns.html|url-status=live}}</ref> The quarter sovereign's specifications and design were stated in a proclamation by the monarch, [[Elizabeth II]] ({{r.}} 1952–2022), dated 10 December 2008 and effective the following day.<ref>{{London Gazette |issue=58910 |date=10 December 2008 |page=19468 }}</ref>
=== Designs === [[File:1817 sovereign reverse.jpg|thumb|alt=Gold coin with Saint George battling the dragon|This design for the 1817 sovereign was reused for the sovereign range coins in 2017.]] The quarter sovereign has not been given its own design, but uses a smaller version of those given to the other coins in the sovereign range, with the obverse depicting the reigning monarch. Initially, an obverse designed by [[Ian Rank-Broadley]] was used. Beginning with some 2015 issues, an obverse portrait of Elizabeth by [[Jody Clark]] was used, though in 2016, some coins bore a different portrait of the queen by James Butler.{{sfn|Marsh|p=174}}{{sfn|Spink|pp=156–157}} In most years, the sovereign-range coins have featured, on the reverse, [[Benedetto Pistrucci]]'s depiction of [[Saint George and the Dragon]] that first appeared on the sovereign in 1817.{{sfn|Marsh|pp=10, 174}} Other reverse designs used include another interpretation of the George and Dragon, by [[Paul Day (sculptor)|Paul Day]] for [[Elizabeth II's Diamond Jubilee]] in 2012.{{sfn|Spink|p=156}}{{sfn|Marsh|p=176}} In 2017, coins with the original, 1817 sovereign reverse design were struck, for its bicentennial.{{sfn|Spink|pp=156–157}}{{sfn|Marsh|pp=174–176}}
In 2022, the Royal Mint struck quarter sovereigns with a reverse design by Noad showing an interpretation of the [[Coat of arms of the United Kingdom|Royal Arms]], marking the [[Platinum Jubilee of Elizabeth II]].<ref>{{cite web|publisher=[[Royal Mint]]|accessdate=28 July 2023|title=The Royal Mint unveils the 2022 Sovereign – the first coin in its Platinum Jubilee collection|url=https://www.royalmint.com/aboutus/press-centre/the-royal-mint-unveils-the-2022-sovereign-the-first-coin-in-its-platinum-jubilee-collection/|archive-date=6 July 2022|archive-url=https://web.archive.org/web/20220706224558/https://www.royalmint.com/aboutus/press-centre/the-royal-mint-unveils-the-2022-sovereign-the-first-coin-in-its-platinum-jubilee-collection/|url-status=live}}</ref><ref name="two">{{cite web|publisher=[[Royal Mint]]|accessdate=28 July 2023|title=The sovereign 2022 five coin gold proof set|url=https://www.royalmint.com/sovereign/2022-five-coin-gold-proof-set/|archive-date=16 May 2022|archive-url=https://web.archive.org/web/20220516073616/https://www.royalmint.com/sovereign/2022-five-coin-gold-proof-set/|url-status=live}}</ref> Later in the year, following the [[death of Elizabeth II]], the Royal Mint issued memorial coins in the sovereign range, including the quarter sovereign, featuring on the obverse, the first coinage portrait of Elizabeth's successor, [[Charles III]] ({{r.}} 2022), by [[Martin Jennings]]. The reverse displayed an interpretation of the Royal Arms by Clark.<ref name="twoa">{{cite web|publisher=[[Royal Mint]]|accessdate=27 May 2023|title=Queen Elizabeth II memorial sovereign 2022 five-coin gold proof set|url=https://www.royalmint.com/sovereign/queen-elizabeth-ii-memorial-sovereign-2022-five-coin-gold-proof-set/|archive-date=27 May 2023|archive-url=https://web.archive.org/web/20230527192522/https://www.royalmint.com/sovereign/queen-elizabeth-II-memorial-sovereign-2022-five-coin-gold-proof-set/|url-status=live}}</ref> In 2023, a quarter sovereign commemorating the [[coronation of Charles III]] was struck, with the obverse a crowned portrait of the king by Jennings and the reverse the Pistrucci George and Dragon.<ref name="three">{{cite web|publisher=[[Royal Mint]]|accessdate=15 August 2023|title=The Coronation quarter sovereign 2023 gold bullion coin|url=https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-coronation-quarter-sovereign-2023-gold-bullion-coin/|archive-date=15 August 2023|archive-url=https://web.archive.org/web/20230815200236/https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-coronation-quarter-sovereign-2023-gold-bullion-coin/|url-status=live}}</ref> For 2024, Jennings' uncrowned portrait of Charles was paired with Pistrucci's reverse on each of the five sovereign denominations struck in [[proof coin|proof condition]], from the quarter sovereign to the five-pound piece.<ref>{{cite web|accessdate=6 November 2023|publisher=[[Royal Mint]]|url=https://www.royalmint.com/sovereign/2024-sovereign/the-sovereign-2024-five-coin-gold-proof-set/|title=The sovereign 2024 five-coin gold proof set|archive-date=1 December 2023|archive-url=https://web.archive.org/web/20231201155035/https://www.royalmint.com/sovereign/2024-sovereign/the-sovereign-2024-five-coin-gold-proof-set/|url-status=dead}}</ref> For 2025, Pistrucci's reverse was used on some coins, with others featuring [[Jean Baptiste Merlen]]'s Royal Arms reverse, first used on the sovereign in 1825, for its 200th anniversary.<ref name = "five">{{Cite web |date=3 October 2024 |title=The Royal Mint Launches 2025 Sovereign Collection |url=https://www.royalmint.com/aboutus/press-centre/the-royal-mint-launches-2025-sovereign-collection/ |publisher=[[Royal Mint]]|access-date=5 October 2024}}</ref> For 2026, the sovereign range returned to yellow-coloured gold from rose and added security features amid strong demand and price rises for gold.<ref name = "six">{{Cite web |date=12 November 2025 |title='Chief Coin of the World' Now One of The Most Visually Secure with New Advanced Security Features and Return to Yellow Gold |url=https://www.royalmint.com/aboutus/press-centre/chief-coin-of-the-world-now-one-of-the-most-visually-secure-with-new-advanced-security-features-and-return-to-yellow-gold/|publisher=[[Royal Mint]]|access-date=14 November 2025}}</ref><ref>{{Cite web|title=The Double-Sovereign 2026 Gold Bullion Coin|url=https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-double-sovereign-2026-gold-bullion-coin/|publisher=[[Royal Mint]]|access-date=14 November 2025}}</ref>
=== Issuance === From 2009 to 2012 the quarter sovereign was sold as a bullion piece, with authorised mintages of between 50,000 and 250,000, though the actual numbers sold are unreported.{{sfn|Marsh|pp=175–176}} Such bullion issues are sold based on the price of gold, carrying a smaller premium than proof coins,{{sfn|Marsh|pp=94–95}} with a sufficient premium charged to allow for the costs of manufacture and sale.<ref name="man"/> Both varieties of the 2022 quarter sovereign were sold by the Royal Mint as bullion pieces,<ref name="man">{{cite web|publisher=[[Royal Mint]]|accessdate=30 November 2023|title=The memorial quarter sovereign 2022 gold bullion coin|url=https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-memorial-quarter-sovereign-2022-gold-bullion-coin/|archive-date=21 September 2023|archive-url=https://web.archive.org/web/20230921131450/https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-memorial-quarter-sovereign-2022-gold-bullion-coin/|url-status=live}}</ref><ref>{{cite web|publisher=[[Royal Mint]]|accessdate=15 August 2023|title=The quarter sovereign 2022 gold bullion coin|url=https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-quarter-sovereign-2022-gold-bullion-coin/|archive-date=15 August 2023|archive-url=https://web.archive.org/web/20230815210904/https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-quarter-sovereign-2022-gold-bullion-coin/|url-status=live}}</ref> as well as in [[proof coin|proof condition]];<ref name="two"/><ref name="twoa"/> the same is true of the 2023 coronation issue,<ref name="three"/><ref>{{cite web|publisher=[[Royal Mint]]|accessdate=15 August 2023|title=Made for a crowning moment|url=https://www.royalmint.com/sovereign/|archive-date=19 September 2023|archive-url=https://web.archive.org/web/20230919133824/https://www.royalmint.com/sovereign/|url-status=live}}</ref> as well as that for 2024<ref>{{cite web|publisher=[[Royal Mint]]|accessdate=3 January 2024|title=The quarter sovereign 2024 gold bullion coin|url=https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-quarter-sovereign-2024-gold-bullion-coin/|archive-date=24 February 2024|archive-url=https://web.archive.org/web/20240224151205/https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-quarter-sovereign-2024-gold-bullion-coin/|url-status=dead}}</ref><ref>{{cite web|publisher=[[Royal Mint]]|accessdate=3 January 2024|title=The sovereign 2024 five-coin gold proof set|url=https://www.royalmint.com/sovereign/2024-sovereign/the-sovereign-2024-five-coin-gold-proof-set/|archive-date=1 December 2023|archive-url=https://web.archive.org/web/20231201155035/https://www.royalmint.com/sovereign/2024-sovereign/the-sovereign-2024-five-coin-gold-proof-set/|url-status=dead}}</ref> and 2026.<ref name = "six" /><ref name = "sixa">{{cite web|publisher=[[Royal Mint]]|accessdate=14 November 2025|title=The quarter-sovereign 2026 gold bullion coin|url=https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-quarter-sovereign-2026-gold-bullion-coin/}}</ref>
The quarter sovereign has been sold as a collector's coin, usually in proof condition, each year since 2009, though only in 2009 (13,495 pieces struck) did the reported mintage reach 10,000.{{sfn|Marsh|pp=175–176}}{{sfn|Spink|pp=156–157}} In addition to being sold individually, these collector's coins have been available for purchase as part of a [[proof set]] of between three and five of the sovereign denominations.{{sfn|Spink|pp=156–157, 175–176}} In 2023, the Royal Mint sold the Coronation quarter sovereign in proof condition for £235.00,<ref>{{cite web|publisher=[[Royal Mint]]|accessdate=9 December 2023|title=The Coronation of His Majesty King Charles III Quarter-Sovereign 2023 Gold Proof Coin|url=https://www.royalmint.com/sovereign/coronation-sovereign/the-coronation-of-his-majesty-king-charles-III-quarter-sovereign-2023-gold-proof-coin/|archive-date=9 December 2023|archive-url=https://web.archive.org/web/20231209175512/https://www.royalmint.com/sovereign/coronation-sovereign/the-coronation-of-his-majesty-king-charles-III-quarter-sovereign-2023-gold-proof-coin/|url-status=live}}</ref> and in [[coin grading|uncirculated]] condition for £132.39 or £134.97, depending on what packaging is used.<ref>{{cite web|publisher=[[Royal Mint]]|accessdate=9 December 2023|title=The Coronation Quarter Sovereign 2023 Gold Bullion Coin in Blister|url=https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-coronation-quarter-sovereign-2023-gold-bullion-coin-in-blister/|archive-date=9 December 2023|archive-url=https://web.archive.org/web/20231209175512/https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-coronation-quarter-sovereign-2023-gold-bullion-coin-in-blister/|url-status=live}}</ref><ref>{{cite web|publisher=[[Royal Mint]]|accessdate=9 December 2023|title=The Coronation Quarter Sovereign 2023 Gold Bullion Coin|url=https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-coronation-quarter-sovereign-2023-gold-bullion-coin/|archive-date=15 August 2023|archive-url=https://web.archive.org/web/20230815200246/https://www.royalmint.com/invest/bullion/bullion-coins/gold-coins/the-coronation-quarter-sovereign-2023-gold-bullion-coin/|url-status=live}}</ref> By the time of the 2026 issue the previous November, the price for a bullion quarter sovereign was £252.58.<ref name = "sixa" />
==See also== *[[British twenty-five pence coin|Twenty-five pence coin]] *[[Crown (British coin)|Crown]] == Notes == {{notes}} ==References== {{reflist}} == Sources ==
* {{cite book|last=Clancy|first=Kevin|author-link=Kevin Clancy (Royal Mint)|title=A History of the Sovereign: Chief Coin of the World|publisher=Royal Mint Museum|location=Llantrisant, Wales|edition=2nd|year=2017|orig-year=2015|isbn=978-1-869917-00-5|ref={{sfnRef|Clancy}} }} *{{cite journal|title=Quarter-sovereigns and other small gold patterns of the mid-Victorian period|journal=British Numismatic Journal|volume=67|year=1997|pages=73–83|url=https://www.britnumsoc.org/publications/Digital%20BNJ/pdfs/1997_BNJ_67_8.pdf|last=Dyer|first=G. P.|ref={{sfnRef|Dyer}} }} * {{cite book|title=Catalogue of the Coins, Tokens, Medals, Dies, and Seals in the Museum of the Royal Mint|volume=1|year=1906|last=Hocking|first=William John|location=London|url=https://archive.org/details/RoyalMintMuseumCatalog/page/n9/mode/2up|publisher=Darling & Son on behalf of [[His Majesty's Stationery Office]]|oclc=4976846|ref={{sfnRef|Hocking}} }} * {{cite book|first=Michael A.|last=Marsh|title=The Gold Sovereign|publisher=Token Publishing Ltd|year=2017|edition=rev.|location=Exeter, Devon|orig-year=1980|isbn=978-1-908828-36-1|ref={{sfnRef|Marsh}}}} * {{cite book|author=Spink & Son Ltd|publisher=Spink & Son Ltd|title=Coins of England and the United Kingdom, Decimal Issues 2023|location=London|year=2022|edition=9th|isbn=978-1-912667-93-2|ref={{sfnRef|Spink}} }}
==External links== {{Commonscatinline}}
{{British coinage}}
[[Category:British gold coins]] [[Category:Bullion coins]] [[Category:Quarter-base-unit coins]] [[Category:Saint George and the Dragon]]