Half sovereign and medals mystery

[Simon Bull]

My grandfather was in tanks in the Great War and won an MM and Bar.

His medals (which I have inherited) came in a Craven A cigarette box.  The only item other than the medals and medal ribbons in the box is a 1918 half sovereign.

Can anyone think of any particular reason why he should have kept a half sovereign with the medals?

I thought that a potential explanation might be that he received the half sovereign as some kind of bounty or terminal payment at the end of the War, but I have never read such a thing.

 

Any ideas?

[Jim Strawbridge]

In August 1914 the Governement issued Treasury notes and requested that the general public hand in gold coins (sovereigns and half sovereigns). Before the War over £100million of gold coins were in circulation. By the end of the War the circulation of gold coins had virtually ceased. At the War end if you had a gold coin it was a) unlikely that you would spend it, and b) due to it's disappearance some were held on to as either a keep-sake or a store of intrinsic value. I think it very unlikely that it can be associated with his wartime exploits or reward on his homecoming.

[Ivor Anderson]

The need of the government for GOLD to fund the WW1 war effort led to the recall of gold coinage and the widespread issuing of banknotes from 1914: https://www.gallipoli-association.org/campaign/the-bradbury-note/#:~:text=The Bradbury Note Up until the First World,notes became legal tender in England and Wales. My grandfather handed in his gold savings in exchange for notes at this time. Not to do so in 1914-15 ('to assist the war effort') was seen as unpatriotic. 

From 1920 on the SILVER content of British coins was reduced from 92.5% (sterling silver) to 50% due to inflation and the need to pay for the cost of the war.

(From 1947 on the 50% silver coins were replaced by cupro-nickel and the Royal Mint reclaimed the silver from 50% content coinage. Almost 90 million ounces of silver are said to have been sent to the USA after WW2 to help towards repaying war loans. Current British 'silver' coins are only nickel plated steel!).

Your grandfather's keeping of a 1918 half-sovereign may reflect the passing of gold coinage, or it may have been for some sentimental reason connected to 1918, it being the final year of the war. Was his MM won in 1918?

British forces issued gold sovereigns to e.g. SAS and RAF personnel operating behind enemy lines in WW2 and during the Gulf War. I wonder if this ever happened during WW1? https://www.ukbullion.com/learning-centre/articles/the-british-gold-sovereign (clip below).

By 1918 gold coins would not have been in general circulation and the mintage figure for a 1918 half sovereign is stated as 'unrecorded'. The 'Coin Yearbook 2020' gives the value of an uncirculated specimen as £3750. It seems that they were only issued by the Perth Mint in Australia - see 'P' above date:

Edited 16 July , 2021 by Ivor Anderson
Additional information

[Ivor Anderson]

Further rarity confirmation & approximate valuations for the 1918 half sovereign - max. estimated mintage 250: 

https://www.bullionbypost.co.uk/specific-year-half-sovereign/half-sovereign-george-v-1911-1926/1918-gold-half-sovereign-king-george-v-p/

https://www.gold.co.uk/gold-coins/gold-half-sovereigns/1918-gold-half-sovereign-king-george-v-p/

"Half sovereigns from the Perth Mint bearing the date 1918 were all struck in later years - 1919 and 1920. This probably explains why Marsh lists Perth half sovereigns of 1919 and 1920 too (not attested anywhere) with reference IDs 535 and 535 and a note saying "not circulated". The Catalogue of British Commonwealth Coins 1649 - 1971 says that "4 specimens are known" while Krause lists "Estimated 200 - 250 pieces minted."

https://onlinecoin.club/Coins/Country/United_Kingdom/Half_Sovereign_1918/

Edited 16 July , 2021 by Ivor Anderson

[Simon Bull]

Thank you to you all for your very helpful replies.

[TEW]

There were what are known as Jeweller's copies of 1918 half-sovereigns made in Beirut 1920s & 30s.

Not made to deceive, just to put gold into a coin form. 1918 date with no 'P' then informs the buyer what they are getting as there weren't any from other mints.

There are details if you had a comparison of a minted one. The rider's mouth is open on a minted but shut on a Beirut. Rider's nose is bigger on Beirut version.

May not be up to 22k standard either which would make it lighter than the 3.99g standard.

https://www.coincommunity.com/forum/topic.asp?TOPIC_ID=402118

TEW

[Ivor Anderson]

Very interesting TEW. It would be interesting to see a photo of the actual half-sovereign in question in light of this?

Edited 9 August , 2021 by Ivor Anderson
Additional information