A sovereign is nominally valued at ?1. However, the intrinsic value of the coin is higher, depending on the price of gold on the commodities market.
Since the coin contains 0.23 troy ounces of 22 carat gold, the coin is worth $280.54 when the price of gold is equal to $1,300 dollars per troy ounce. Older sovereigns may have additional added value to coin collectors based on their condition, year and place of origin. For historical gold sovereigns, the prices can range anywhere from a few hundred dollars to over $10,000. The Royal Mint has been minting sovereigns since 1817.