1992 Sovereign, 5th Lowest Mintage · PCGS PR70 Deep Cameo

The 1992 Gold Proof Sovereign pairs Raphael Maklouf’s portrait of Queen Elizabeth II with the familiar Saint George and the dragon reverse. Issued in the year marking 40 years since the Queen’s accession, it belongs to the established tradition of British proof gold coinage. This example has been authenticated and encapsulated by PCGS with the grade PR70, the highest numerical grade on the Sheldon scale.

The obverse features Maklouf’s third definitive portrait of Queen Elizabeth II, used on British coinage between 1985 and 1997. The Queen is depicted facing right, wearing the Diamond Diadem, earrings and a necklace. The carefully modelled portrait gives this issue the distinctive appearance associated with the Sovereigns of the late 1980s and early 1990s.

The reverse carries Benedetto Pistrucci’s depiction of Saint George slaying the dragon, with the date beneath the scene. Originally introduced on the modern Sovereign in 1817, the design connects this issue to a tradition stretching back to the reign of George III. Its sculptural detail is brought into focus by the polished fields and carefully prepared relief of the proof finish.

Struck in 22 carat gold and containing 0.2354 troy ounces of fine gold, the 1992 Proof Sovereign maintains the denomination’s traditional specification. With a mintage of 4,722 and PCGS PR70 certification, this example combines one of the smaller modern proof issues with the highest numerical grade available.