2016 India Sovereign NGC MS69 DPL
£4,995.00
The 2016 India Sovereign is one of the key modern Indian-struck Sovereigns, manufactured by MMTC-PAMP India under licence from The Royal Mint and distinguished by the small “I” mintmark positioned above the date.
Struck in traditional 22-carat gold, the Full Sovereign weighs 7.98g and contains 0.2354 troy ounces of fine gold. The reported 2016 mintage is just 45,000 coins, lower than the reported mintages for the preceding 2013, 2014 and 2015 Indian issues.
This particular example has been independently certified by NGC as MS69 DPL – Deep Prooflike, with an NGC MS69 DPL population of just 5, and only 2 examples graded higher at the time of checking.
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Description
2016 India Sovereign NGC MS69 DPL
The 2016 India Full Sovereign represents an important chapter in the international history of one of Britain’s most recognisable gold coins.
Although Sovereigns had historically been struck at several Royal Mint branch facilities around the world, modern Sovereign manufacture returned to India in 2013 through an arrangement involving MMTC-PAMP India and The Royal Mint.
These Indian-manufactured Sovereigns are distinguished from their UK counterparts by a small:
I
mintmark positioned above the date on the reverse.
The coin offered here is the 2016-I Sovereign, carrying this distinctive Indian mintmark alongside Benedetto Pistrucci’s famous St George and the Dragon design.
The reported mintage for the 2016 issue is:
45,000 coins
making it one of the lower-mintage dates from the early modern Indian Sovereign series.
This particular example has subsequently been independently authenticated, encapsulated and certified by Numismatic Guaranty Company (NGC) as:
MS69 DPL
The additional:
DPL – Deep Prooflike
designation is particularly significant.
At the time of checking on 2 September 2026, NGC records:
NGC MS69 DPL Population: 5
Higher Grades: 2
This is therefore not simply an MS69 Sovereign. It is an MS69 carrying NGC’s Deep Prooflike designation, with a very small certified population at the exact grade and designation.
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Why This Coin Stands Out
- 2016 India Full Sovereign
- Distinctive “I” mintmark
- Manufactured in India by MMTC-PAMP
- Produced under licence from The Royal Mint
- Reported mintage of just 45,000
- Lower reported mintage than the 2013, 2014 and 2015 Indian issues
- Traditional 22-carat gold
- 7.98g total weight
- 0.2354 troy oz fine-gold content
- Classic St George and the Dragon reverse
- Benedetto Pistrucci reverse design
- Queen Elizabeth II fifth definitive portrait
- Jody Clark obverse design
- Independently certified NGC MS69 DPL
- Deep Prooflike designation
- NGC MS69 DPL population of just 5
- Only 2 graded higher at the time of checking
The combination of the 45,000 reported mintage, Indian I mintmark and exceptionally small NGC MS69 DPL population of 5 gives this particular certified example a substantially different profile from a conventional bullion Sovereign.
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Specifications
Year: 2016
Type: Full Sovereign
Country: India / Great Britain Sovereign
Manufacturer: MMTC-PAMP India
Licence: The Royal Mint
Mintmark: I
Reported Mintage: 45,000
Metal: Gold
Fineness: 916.7 / 22 Carat
Weight: 7.98g
Fine Gold Content: 0.2354 Troy Ounce
Diameter: 22.05mm
Reverse: St George and the Dragon
Reverse Designer: Benedetto Pistrucci
Obverse: Queen Elizabeth II – Fifth Definitive Portrait
Obverse Designer: Jody Clark
Grading Company: NGC
Grade: MS69 DPL
Designation: Deep Prooflike
NGC MS69 DPL Population: 5
Higher Grades: 2
Population Checked: 2 September 2026
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Reported Mintage of Just 45,000
The reported mintage for the 2016-I India Sovereign is:
45,000 coins
This is particularly interesting when compared with the preceding modern Indian Sovereign issues:
2013 – 94,790
2014 – 60,471
2015 – 64,500
2016 – 45,000
The 2016 issue therefore had a substantially smaller reported production than each of the preceding three dates.
The mintage should not, however, be confused with the NGC population.
For the coin offered here:
Reported Original Mintage: 45,000
NGC MS69 DPL Population: 5
Higher Grades: 2
The first relates to the reported production of the 2016-I Sovereign as a whole.
The second records examples certified by NGC at the specific combination of MS69 and Deep Prooflike at the time of checking.
NGC population figures can change as additional coins are submitted and certified.
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The Return of Sovereign Production to India
The Sovereign has a long historical association with India.
During the First World War, a Royal Mint branch was established in Bombay, where Sovereigns were struck in 1918. Those historic Bombay Sovereigns were distinguished by an “I” mintmark.
Almost a century later, Sovereign manufacture returned to India.
Beginning in 2013, modern Sovereigns were manufactured in India by MMTC-PAMP under licence from The Royal Mint.
The modern Indian Sovereigns also carry the distinctive:
I
mintmark.
Importantly, the 2016 coin offered here was not struck at the historic Bombay branch mint. It belongs to the modern MMTC-PAMP production programme.
The shared I mintmark nevertheless creates a clear visual link between the historic and modern Indian-struck Sovereigns.
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The Distinctive “I” Mintmark
One of the most important identifying features of the 2016 India Sovereign is its mintmark.
A small:
I
appears immediately above the:
2016
date beneath Pistrucci’s St George and the Dragon.
This distinguishes the Indian-manufactured Sovereign from the corresponding UK-struck issue.
For collectors assembling Sovereigns by date and mint, this mintmark is a fundamental part of the coin’s identity.
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St George and the Dragon
The reverse features one of the most enduring designs in British numismatics:
St George and the Dragon
by Italian engraver and medallist:
Benedetto Pistrucci.
Pistrucci’s composition was first introduced to the Sovereign in the nineteenth century and has subsequently become closely associated with the denomination.
St George is shown on horseback confronting the dragon, with Pistrucci’s initials incorporated into the design.
For the 2016 Indian issue, the small I mintmark appears above the date beneath the main composition.
This combination of the classic Pistrucci reverse and Indian mintmark immediately identifies the coin as part of the modern Indian Sovereign series.
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Queen Elizabeth II Obverse
The obverse features the fifth definitive coinage portrait of Queen Elizabeth II, designed by:
Jody Clark.
This portrait was introduced to British coinage in 2015 and depicts Queen Elizabeth II wearing the George IV State Diadem.
It is important to distinguish this Indian-struck 2016 Sovereign from certain other 2016 Sovereign issues.
The 2016-I uses Jody Clark’s fifth definitive portrait rather than the special James Butler portrait associated with the separately issued 2016 Proof Sovereign celebrating Queen Elizabeth II’s 90th birthday.
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Traditional Sovereign Specification
The 2016 India Sovereign follows the established specification of the modern Full Sovereign.
It is struck in:
22-Carat Gold
with a fineness of:
916.7
and weighs:
7.98g
Each coin contains approximately:
0.2354 Troy Ounce of Fine Gold
with a diameter of:
22.05mm
This traditional specification links the modern Indian issue directly with the long-established physical standard of the Full Sovereign.
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NGC MS69
This particular example has been independently authenticated and graded by NGC as:
MS69
NGC uses the internationally recognised 70-point numerical grading scale.
MS denotes:
Mint State
and is applied to coins produced for circulation or bullion purposes that show no wear from circulation.
An MS69 grade represents a coin at the very upper end of the Mint State grading scale, one numerical point below MS70.
However, the grade alone does not tell the complete story of this particular example.
NGC has additionally awarded it the:
DPL
designation.
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NGC DPL – Deep Prooflike
The defining certification characteristic of this example is its:
DPL – Deep Prooflike
designation.
Prooflike terminology describes Mint State coins whose fields exhibit unusually reflective characteristics resembling those associated with Proof manufacture, despite the coin itself not being a Proof issue.
Deep Prooflike identifies a stronger degree of this reflective character.
This is separate from the numerical MS69 grade.
The certification should therefore be read as:
MS69 DPL
rather than simply:
MS69
That distinction becomes particularly significant when the NGC population is considered.
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NGC MS69 DPL Population – Just 5
At the time of checking on 2 September 2026, NGC records this exact certification category as:
MS69 DPL Population: 5
with:
2 examples graded higher
This means the coin offered here is one of only 5 examples currently recorded by NGC at the MS69 DPL grade.
Unlike a Top Pop coin, there are examples recorded at a higher grade, so this coin is not described as Top Pop.
For accuracy:
NGC Grade: MS69 DPL
NGC MS69 DPL Population: 5
Higher Grades: 2
Population Checked: 2 September 2026
The population is specific to NGC’s Census and can change if further examples are submitted and certified.
It should not be interpreted as meaning that only five MS69 examples exist. The important distinction is the exact combination of:
MS69 + DPL
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A Particularly Scarce Certified 2016-I Sovereign
This particular coin brings together:
2016 India Sovereign
Indian “I” mintmark
MMTC-PAMP manufacture
Royal Mint licence
Reported mintage of 45,000
22-carat gold
0.2354 troy oz fine gold
Benedetto Pistrucci’s St George and the Dragon
Jody Clark’s Queen Elizabeth II portrait
NGC MS69
Deep Prooflike designation
NGC MS69 DPL population of just 5
Only 2 graded higher
These characteristics make this considerably more than a standard bullion Sovereign.
The combination of its Indian provenance, relatively low reported mintage and unusually small NGC Deep Prooflike population gives this particular example a strong identity within modern certified Sovereign collecting.
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Secondary-Market Scarcity
The 2016-I has also demonstrated significant collector demand within the secondary market.
Examples appear considerably less frequently than ordinary modern Sovereigns, particularly in high certified grades.
A PCGS MS69 2016-I Sovereign sold through The Coin Cabinet in April 2025 for a hammer price of £3,600, equivalent to £4,320 including the auction’s 20% buyer’s premium.
That realised auction result provides useful evidence of collector demand for high-grade certified examples of this date.
The coin offered here carries the additional distinction of NGC’s:
DPL – Deep Prooflike
designation, with an NGC MS69 DPL population of only 5 at the time of checking.
Past auction results relate to individual coins sold under specific market conditions and should not be interpreted as a guarantee of future value.
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Image Information
The slab images shown may include digitally produced representations for presentation purposes, with certification numbers and barcodes omitted.
Where detailed close-up photographs of the actual coin are shown, these provide a closer view of the genuine coin offered for sale.
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Why Buy from Sterling Bullion Partners?
Every certified coin offered by Sterling Bullion Partners is carefully selected for its quality, authenticity and collector appeal.
When purchasing from Sterling Bullion Partners, you benefit from:
- Carefully selected certified coins
- Independently authenticated and professionally graded examples
- Detailed grading and population information
- Fully insured UK delivery
- Secure protective packaging
- Experienced customer support
- A UK precious-metals dealer committed to accuracy and transparency
With its 45,000 reported mintage, Indian “I” mintmark and NGC MS69 DPL population of just 5, the 2016 India Sovereign represents a particularly interesting certified example from the modern Indian Sovereign series.
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