As sovereign production declined in the dying days of the gold standard, so too did sovereign mintages.

In fact, the 1931P sovereign has a mintage of just 1,173,567 pieces, which is lower than the mintage figures of several rarer dates, like the 1904 and 1911 Perth.

Unlike those dates, though, most 1931P sovereigns were stored as reserves or exported as bullion, and very few, if any, saw circulation.

You will receive the coin pictured