In addition to the portrait of the reigning monarch, the coin features in most years an image of Saint George and the dragon, designed by Benedetto Pistrucci, first used on the sovereign in 1817 and the half-sovereign in 1893.

The inherited wealth was dissipated due to Henry VIII's extravagant lifestyle and the war expenses needed to maintain a claim over France.

The coin depicts a crowned King Henry sitting in his chair of state, holding his orb and sceptre on the obverse, while the reverse features a royal shield containing the arms of France and England, supported by a lion and a dragon.

[7] The half sovereign was struck again under James I (r. 1603–1625 in England) beginning in 1603, and features a portrait of the king on the obverse, and a crowned shield on the reverse.

[7] During the Napoleonic Wars, large amounts of gold left Britain, and worn guineas and bank notes were used for currency.

[14] One reason for the introduction of gold coinage based on the sovereign was that its value, equal to one pound sterling, was more convenient than the guinea.

[17] The modern sovereign featuring the well-known design by the Italian sculptor, Benedetto Pistrucci, of St George slaying the dragon was proclaimed as currency in 1817, and minting commenced later that year.

[22] According to the Royal Mint's historian, Kevin Clancy, in his book on the sovereign's history: a much more traditional fate awaited the first half-sovereigns issued in more than 200 years.

All the powers of exuberance had plainly been expended on designing the larger coin and what emerged into circulation in September 1817 was an angular shield of the Royal Arms ... ensuring there was a fractional element to the gold coinage demonstrated forward thinking but, like its higher-value partner, it found the first few years of life beset with troubles.

[26] The first type of half sovereign minted during the reign of George IV (r. 1820–1830) features his portrait engraved by Pistrucci wearing a laurel wreath on the obverse and an ornately garnished crowned shield on the reverse which was designed by Jean Baptiste Merlen.

[27] The next time the half sovereign was struck, in 1823, it featured a plainer version of the shield on the reverse, designed by Merlen, and Pistrucci's portrait of George.

The king was dissatisfied with his portrayal, and Pistrucci's bust design was replaced beginning with some 1825 coins with an engraving by Wyon, based on a work by Francis Chantrey.

This was one of several coins struck by the Royal Mint in 1891 from original dies to supply the Bodleian Library with pieces to fill gaps in its collection.

[33] Mint ledgers from this reign record that £60,000 or 120,000 half sovereigns dated 1834 were recalled due to their similarity to the discontinued seven shilling or third guinea pieces.

As trust grew, the Australian coins were accepted as legal tender,[40] and, beginning in 1871, Sydney used the same shield design as did London.

Nevertheless, Goschen was no supporter of the half sovereign, and none were struck at the Royal Mint's facility at Tower Hill between June 1887 and February 1890.

[54][55] Boehm's obverse design showing Victoria wearing a crown that was deemed undersized proved controversial, and the Royal Mint was determined to replace it as soon as possible.

[58] Pistrucci's initials, BP, are not found on the Old Head half sovereign; Richard Lobel, in Coincraft's Standard Catalogue of English and UK Coins, commented, "how the egotistical Italian, who spelled his name in full on the 1818 crown, would have hated that!

"[34] Half sovereigns with Brock's obverse and the Pistrucci reverse continued to be struck until 1901, the year of the queen's death.

Half sovereigns dated 1904 with the original design were struck at London and Perth; the modified version, with initials, was used at all four mints during that year.

[60] After Edward's death in 1910, half sovereigns featuring the new king, George V (r. 1910–1936), with an obverse designed by Bertram Mackennal and the Pistrucci reverse, were first issued in 1911 and continued until 1915 at London.

[65] Half sovereigns bearing a bare head bust of George VI (r. 1936–1952) by Humphrey Paget on the obverse and the St George reverse, were struck in 1937 with a plain edge as part of the tradition to strike all denominations as part of a proof set in a new monarch's coronation year.

[68] The Royal Mint realised there was a market for sovereign coins and began to sell them to collectors at well over face or bullion value.

Both issues carried the second coinage portrait of Elizabeth II, by Arnold Machin on their obverses, with the Pistrucci design as the reverse.

[70] From 1985 to 1997, except in 1989, half sovereigns in proof condition with the third coinage portrait of Elizabeth, by Raphael Maklouf, were struck.

Special designs for the reverse were substituted for Pistrucci's for Elizabeth II's Golden Jubilee in 2002 (by Timothy Noad, depicting a crowned shield within a wreath), in 2005 (a more modern interpretation of the George and dragon, also by Noad), and in 2012 for Elizabeth II's Diamond Jubilee (another modern interpretation of the George and dragon, by Paul Day).

[79] Later in the year, following the death of Elizabeth II, the Royal Mint issued memorial coins in the sovereign range, including the half sovereign, featuring an interpretation of the Royal Arms by Clark as the reverse, and for the obverse, the first coinage portrait of Elizabeth's successor, Charles III (r. 2022– ), by Martin Jennings.

[80] Half sovereigns were issued in 2023, marking the coronation of Charles III, with a crowned bust of the king by Jennings on the obverse and with the Pistrucci design on the reverse.