Did you know that the Indian Gold Sovereign George V coins history is one of the most interesting to study? Over 1.3 billion people in India, you would expect an equally significant treasure worth many millions of United States dollars somewhere. If only you could find out where these treasures are hidden.
India Gold Sovereign George V Coins History
The Indians have a saying: "He who seeks shall find." They also believe that things always come in threes. This ancient wisdom may provide a clue when searching for the treasures considered somewhere in the country as a lost treasure. During the British period, the first ruler of India was King George V. He ruled from 1911 to 1936. However, the Royal British Mint in London did not produce Gold Sovereigns from 1918 to 1919. There are believed to be 6,940,000 Gold Sovereigns minted in Bombay and Calcutta during these two years.
As British-Indian relations grew worse during the end of World War I, a tiny portion of the 6,940,000 sovereigns appears to have been seized by the Indian Government and stored in the vaults of the Reserve Bank of India in both cities. There are about 100 known vaults, with several of them in each town. The vaults were all underground and protected by walls of solid stone. Some of the vaults were so large that they extended several stories deep.
The years passed by, and a new ruler came to power in Britain: King George VI. During his 20-year reign from 1936 to 1956, he witnessed the transition of the British Empire into the British Common Wealth with the independence of Pakistan in 1947. India in 1948, and the Republic of Ireland in 1949.
In the early 1950s, some of the vaults were looted by mobs. In other cases, portions of the vaults had been flooded by nearby rivers. Through the natural process of aging and deterioration, most of the vaults had become weakened. In some cases, they were so weak they could be opened with explosives by anyone who knew the actual locations.
The last known accounts had several vaults in both cities holding a massive store of valuables. This would include gold coins, silver bars, and jewelry. It is not known why these vaults are not being looted. The most likely explanation, and one supported by the local governments, is that they probably are booby-trapped, and entrances to many of these vaults have either been blocked or hidden.
As with all lost treasures, the Government has taken a hands-off approach for many reasons. They do not want to damage trade with Britain by admitting their citizens are looting Indian treasures from ancient vaults. Also, there are security reasons for not making the locations of these vaults known; they do not want a bunch of treasure hunters raiding the cities. The history must be remembered; this is not just a lost treasure, but two entire forgotten cities where many people still live their day-to-day lives.
Last but certainly not least, the Indian Government has made a statement that treasures found within any of these lost vaults and mines are government property. Any attempt to loot them would be illegal and punishable by law.
India Gold Sovereign George V Coins Physical Characteristics
The George V Gold Sovereign Coins were manufactured in British mints from 1910 through 1929. The front (crown) side displays the clear profile of the king facing to the left. George V wears a "coronet," and his numeral is at the bottom outside of the circle.
The reverse side displays the sport as a variation of the famed St. George the Dragonslayer theme. The background shows a decorative arrangement of ornate shields with the British coat of arms at the top and a small crown at the bottom. At the bottom right side of the circle is the numeral "5," indicating its value in British currency.
The coin came coin is 22 carats (91%) fine gold. An open issue as to the number of coins minted. One source says 2,510,500, while another lists only 557,000. Given the weights listed in various reference books, it would appear that several higher denomination coins were minted, making the estimates of the total mintage much higher than the actual number of coins earned.
The exact specification of the coin as follows:
- Diameter: 3.00 mm
- Weight: 0.136 troy oz
- Carat: 22 (Gold), Denomination: 7
- Thievery Skill Required: 100%
- Uniqueness Factor: 85% of all existing sovereigns from George V's era have a "clear" rather than an "incuse"
India Gold Sovereign George V Coins Pricing
The going price for these rare coins is $3,000 for cash in worn condition. In good condition, they sell for $10,000. In uncirculated condition, they sell for $100,000.
Determining the value of rare coins is a matter of some guesswork and depends on the type of coin and condition. Each coin is also a miniature work of art with unique designs, different from all other coins. This coin makes them collectible in and of themselves as well as valuable.
The object of using the pricing charts from coin dealers is to get some general idea about the value of your coins so that you don't overpay or underpay when selling.
Due to our discounts and your ability to sell to several coin dealers simultaneously, you can get prices that others cannot.
Remember that a rare coin is not money and doesn't even earn interest in your savings account. One of the best ways to invest is by buying rare coins because you can make 10% or more selling them to collectors.
Can IRA Accounts Contain India Gold Sovereign George V Coins?
Some people put pre-1965 US coins in their IRA accounts. This thing is done to avoid capital gains tax when selling them on the open market. What is different about the gold coins placed in a retirement account is that the coin does not have to be sold. The owner can take it out of the report only when they reach the age of 59.5. At that time, it can be traded for money to buy a house or used towards purchasing a retirement home.
Because it is not invested in the same way as other types of funds, many people mistakenly believe that IRA accounts cannot contain gold coins. This is untrue, and the law does allow this. You can buy a gold coin and place it in your retirement account even if you have not reached the age of 59.5 yet.
However, these coins are regarded as collectibles by the IRS, and therefore capital gain taxes do apply when you sell them. It means that the Government levies a capital gains tax of 28% on coins that have been held for less than one year and a tax of up to almost 40% on coins sold after being held for more than one year.
It's essential to consider these rules when you start placing gold coins in your IRA. While the process allows you to place collectible coins into this type of account, you need to follow limitations.
Invest in Sovereign Gold Coins: King George V One Rand Coins
When you buy King George V Sovereigns, you know that they have been made of the best quality. That is why these rare and valuable coins have such an interesting history and are regarded as among the most beautiful objects in the world.
The British Royal Mint has been making coins for hundreds of years, and these coins reflect that history and experience. You can be sure that you will get an authentic piece of art and craftsmanship when you buy them.
You can store them, display them in a collection or hand them down to future generations. They have an inherent value that is more than just their worth in gold. These coins are made to last through the ages while maintaining their intrinsic value.
If you decide you want to sell your Sovereigns one day and take them to a coin dealer in your city or around the world, you can be sure they will give you a fair price for them. Even if you don't want to sell them, they are beautiful objects that can grace your home, and think about how they are made with the same care and attention that went into Cistercian monastic carpentry 800 years ago.
The King George V Indian Gold Sovereigns are beautiful coins that hold their value well. You can buy them as an investment to pass on to future generations. They are an expression of the craftsmanship of the Royal British Mint.
You can buy the best and most beautiful coins at market-leading prices. If you want to store your assets in something beautiful and functional, then purchasing these rare sovereigns is a good choice. Buy them now and make an investment that you can pass on to your children and grandchildren for years to come. The Government has been minting these coins since 19 April 1897. Now is the best time to buy them for future value.