2022 Memorial Gold Proof Sovereign PF70 Ultra Cameo | First Charles III Sovereign | NGC
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CGT & VAT exempt for UK residents
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The 2022 Memorial Gold Proof Sovereign is the most historically significant British coin issued in a generation. It marks two milestones that will never occur again: the final sovereign of Queen Elizabeth II's 70-year reign, and the first full sovereign to carry the portrait of King Charles III.
This coin does not merely commemorate an event. It is the exact hinge point between two eras of British monarchy, struck in 22-carat gold at the moment of transition.
The Martin Jennings Obverse — A Royal First
The obverse introduces the first official coinage portrait of King Charles III by acclaimed sculptor Martin Jennings. Following the centuries-old tradition of alternating portrait directions, the new King faces left — the opposite direction to Queen Elizabeth II. The portrait is uncrowned, continuing the convention established for male monarchs on British coinage. Jennings' initials MJ appear on the truncation.
The Memorial Royal Arms Reverse — One Year Only
Rather than the traditional Pistrucci St George and the Dragon, the 2022 Memorial Sovereign carries an exclusive Royal Arms design by Jody Clark — the heraldic lion and unicorn supporters with the quartered royal shield. This reverse design was used solely for the Memorial collection and has never appeared on any other sovereign, making this a one-year-only type coin.
For collectors building a type set of sovereigns by reign, this coin is the first and most important acquisition for the Carolean era.
NGC PF70 Ultra Cameo — Numismatic Perfection
Certified by NGC as PF70 Ultra Cameo — the highest possible grade for a proof coin. No post-production imperfections are visible under 5x magnification. The “Ultra Cameo” designation confirms maximum contrast between the frosted heraldic relief and the deep mirror-polished fields.
Investment & Tax Status
All British gold sovereigns are CGT exempt as legal tender and carry no VAT as investment gold. The 2022 Memorial Sovereign, as the first-year-of-reign type for Charles III, occupies a category that cannot be replicated.
Specifications
| Detail | Information |
|---|---|
| Year | 2022 |
| Denomination | Full Sovereign (£1) |
| Reverse Design | Memorial Royal Arms (Jody Clark) — one-year-only |
| Obverse Design | Martin Jennings portrait of King Charles III (debut) |
| Grading Service | NGC |
| Grade | PF70 Ultra Cameo |
| Metal | 22 Carat Rose Gold |
| Gold Purity | 916.7‰ |
| Weight | 7.98g |
| Diameter | 22.05mm |
| Finish | Proof |
| Edge | Milled |
| Issued By | The Royal Mint |
| Tax Status | VAT-Free & CGT Exempt |
| Historical Note | First full sovereign of the Carolean era |
NGC Cert: Verify this coin on NGC →
Frequently Asked Questions
Is the 2022 Memorial Sovereign the first King Charles III sovereign?
Yes. The 2022 Memorial series represents the first full sovereigns to carry the portrait of King Charles III, introduced following the passing of Queen Elizabeth II in September 2022.
Why does this coin use a Royal Arms reverse instead of St George?
The Royal Arms reverse was designed exclusively for the 2022 Memorial collection as a mark of respect, departing from the standard Pistrucci design. It was used for this series only and has not appeared on any subsequent sovereign.
What is the significance of the portrait facing direction?
By tradition, each successive monarch's coinage portrait faces the opposite direction to the previous monarch. Elizabeth II faced right on her sovereigns; Charles III faces left. This convention dates back centuries.
Is this coin CGT exempt?
Yes. British gold sovereigns are CGT exempt for UK residents as legal tender coins. No VAT applies.
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Delivery Information
We offer free insured delivery across the UK on all orders. Every coin is carefully inspected, securely packaged, and sent using Royal Mail Special Delivery - a fully tracked, next-day service that requires a signature on receipt.
All parcels are shipped discreetly and fully insured for peace of mind.
We currently do not ship internationally. Orders can only be delivered to the UK address provided at checkout, and we’re unable to send to PO Box addresses.
We aim to dispatch all orders within one business day of receiving cleared payment. Once your order has been dispatched, you’ll receive tracking details so you can monitor its progress.
Returns Policy
For non-bullion items (such as proof coins, graded coins or accessories), we’re happy to accept returns within 14 days of receipt if you feel your coin is not as described and provided the item is returned in its original condition, please contact us and we’ll be glad to help.
If an item is returned for reasons other than being not as described, return postage will be the responsibility of the buyer.
Important Notes
- All returns must be pre-authorised by our customer service team.
- Please use a tracked and insured service when sending items back to us, as we cannot accept liability for goods lost or damaged in transit.
- For full details, please see our Terms & Conditions or contact us directly with any questions.
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Please note that we do not accept credit cards. This policy helps us keep prices competitive and ensures all transactions remain low-risk and fully traceable.
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Every payment method we accept is fully secure, encrypted and protected. Once payment is confirmed, your order will be prepared for dispatch within one business day.
Yes. Every NGC-certified coin has a unique certification number visible on the slab label. You can verify the grade, coin details and population data at NGCcoin.uk using the cert number shown.
The NGC census records how many examples of each coin have been graded at each level. A Top Pop coin means no other example has achieved a higher grade — making it the finest certified specimen in existence for that issue.
Yes. If you have existing graded sovereigns you'd like to trade towards a purchase, contact us for a bespoke cost-to-change valuation.