Charles III will be officially crowned King on the 6th May, 2023, using the Saint Edward’s Crown. Encrusted with 444 precious and semi-precious stones and weighing 2.23kg (4.9lb), many have speculated as to what the monetary value of the crown is. A few publications have attempted to break down the components of the historical relic, which gives a rough figure of £45.4 million, but we’ll do a bit more digging to figure out what it’s really worth.

What is St Edward’s Crown?

Saint Edward’s Crown is widely viewed as the centrepiece of the Crown Jewels and has traditionally been used in coronation ceremonies to crown British Kings and Queens. It’s the symbol most associated with the British Monarchy which can be found in the insignia of many organisations in the United Kingdom and the Commonwealth. In everyday life, you’ll find it on Elizabeth II’s royal cypher, post boxes, police badges and military insignia to name but a few.

The crown is usually kept safe alongside the other items of royal regalia in the Tower of London, where the public can view it in the confines of an official museum. It measures 12 inches tall and has a circumference of 26 inches, but some of the specifications could vary slightly as it’s reshaped for new monarchs.

In the most recent coronation, the late Queen Elizabeth II wore St Edward’s Crown, but only for a brief moment. She switched to the lighter Imperial State Crown for the rest of the ceremony. Wearing the heavy St Edward’s Crown was a challenge, given its weight and the fact it added a foot to the Queen’s height. The cumbersome crown made simple tasks such as reading off a script quite difficult, as recalled in this quote given by Elizabeth II to Smithsonian Magazine in 2018:

‘You can’t look down to read the speech, you have to take the speech up. Because if you did, your neck would break and it [the crown] would fall off.’

It’s likely Charles III will keep this in mind, and switch to the Imperial State Crown for the remainder of the ceremony to spare his neck!

How Much Is St Edward’s Crown Worth?

To provide an objective figure of value for St Edward’s Crown is possible, but it’s almost certain that its subjective value is many, many times greater. After all, an item is only worth what somebody is willing to pay for it. Reader’s Digest has speculated that it’s worth £45.4 million, but we’ll break down the crown by splitting out the materials used to construct it.

Take the gold content. When the metal is isolated, it leaves 2,028.4 grams of 22 carat gold. This is equivalent to 59.7780 troy ounces of pure gold. With a spot price of £1,624 per troy ounce as of 4/5/23, this would give a spot value of £97,079.47. Now, if you happen to find yourself in possession of this Crown Jewel, and you wanted to sell it for its scrap gold content, then we’d pay £89,553.86. That’s over 90% of the spot value, which is one of the best rates for scrap gold in the country. There’s no need to worry if it’s hallmarked or not: we offer the same rate for both, although it would greatly amuse us to find out if it was.

The gemstones and diamonds in St Edwars’s Crown are the main driving force behind the royal regalia’s value, but their exact weight is not known. In total, it features 444 precious and semi-precious stones, including 345 rose-cut aquamarines, 37 white topazes, 27 tourmalines, 12 rubies, 7 amethysts, 6 sapphires, 2 jargoons, 1 garnet, 1 spinel and 1 carbuncle. Combined, it’s likely these stones would fetch a figure of approximately £3.6 million going off guides published by the International Gem Society. Although there no specific diamond or gemstone which stands out in its own right on the crown, the fact that it was placed on it would likely inflate the value of the particular stone immensely. So, this would give a figure of at least £3,689,553.86.

There’s one last, rather unusual way of valuing St Edward’s Crown. Sharp observers will wonder if the crown is insured. One would think this would be a sensible thing to do, but amazingly, it isn’t. According to the London Evening Standard, the reason why no value is given to any item in the Crown Jewels is because they’ve never been considered for sale. But, if you want something insured, then you need to get the item appraised and valued. It’s not clear if the Royal Collections have ever done this. If they have, it might be that the insurers have looked at the St Edward’s Crown and deemed it priceless! A shame, as the Royal Collections seem to have missed out on building a no-claims bonus.

Brief History of St Edward’s Crown

The crown can trace its origins to Edward the Confessor, the patron saint and Anglo-Saxon King which it was named after, with its first documented use in the coronation of King Henry III in 1220. From then, it was used in the coronation of Kings and Queens until the Interregnum. Unfortunately St Edward’s Crown didn’t survive the upheaval of that period, with conventional wisdom pointing toward the Commonwealth Government melting down the crown and striking coins out of it. This has never been confirmed.

A modern replica was made for the coronation of Charles II in 1661, reviving the centuries-old tradition. It didn’t last long though, as there was a 226-year gap between its use for King James II in 1685 and for George V in 1911. Edward VII was the inspiration behind its reintroduction, however he was recovering from an operation at the time of his coronation and opted for the lighter Imperial State Crown instead. Since then, the sight of Saint Edward’s Crown being placed on the monarch’s head by the Archbishop of Canterbury has been an integral part of the coronation ceremony.

Value of the Imperial State Crown

As mentioned before, the Imperial State Crown is lighter than St Edward’s Crown (1.06kg, 2.3lb), but that doesn’t take away from its perceived value. It was first used in its current form in 1937 for King George VI, based on a design used in 1838 for the coronation of Queen Victoria.

Unlike St Edward’s Crown, the Imperial State Crown is composed in gold, silver and platinum and is encrusted with over seven times as many precious and semi-precious stones: 3,174 against 444. Not surprisingly, these diamonds and gemstones are the main reason the Imperial State Crown has its alleged £3-5 billion price tag, according to Tatler. Notable stones encased in it with estimated prices are:

• St Edward’s Sapphire, unknown weight
• Black Prince’s Ruby, 170 carat
• Stuart Sapphire, 104 carat
• Cullinan II, 317 carat

Sell Scrap Gold

Are you a relative of Oliver Cromwell and have the original St Edward’s Crown in your possession? We offer excellent rates on unwanted gold, so get in touch with us if you’re looking to sell. You can even use our handy calculator to find out how much your gold is genuinely worth. Don’t worry, we promise not to tell the Royal Family…

Since the time of our most ancient civilisations, we have used gold to decorate our bodies and our most precious objects, and to make coins and currencies around the world. But what are the main uses of gold today? 

In today’s society, the gold in our coins have been replaced by metals like copper and nickel that only look gold-coloured. However, we still like to ornament ourselves with this precious metal. The vast majority of gold produced and used each year continues to be made into jewellery, from wedding rings to gold watches to tiaras. However gold has many more uses and roles to play in our twenty first century world.

The art of gold

The beautiful sheen and shine of gold has long been used to embellish and produce works of art and craft. Gold can be made into a powder, mixed with paint and used to create pictures. Medieval scribes used this method to make illuminated manuscripts and applied gold to highlight the lettering and borders in hand written books.

The ability of gold to be hammered into thin sheets called gold leaf makes it easy for artists to apply it to objects. It is also much less costly to apply a layer of gold rather than making a solid gold object. Modern artists like Jeff Koons continue to use gilding in their works such as his provocative sculpture of Michael Jackson and Bubbles.

Fashion

Gold is highly ductile – that means it can be beaten to a thinness of 1/282,000 inch and pulled into fine threads. European goldsmiths in the twelfth century made cloth of gold for members of royalty and the aristocracy. Gold continues to be used in our modern fashion industry, especially for the most glamourous outfits and events. Gold lamé is made from thin strips of metallic fibre woven or knit into fabric. It reached the height of its popularity in 1930s Hollywood when actresses wore gold lamé gowns on the screen during the Great Depression. Ironically the audience couldn’t see the colour as the films were made in black and white – but the dresses still had an amazing sheen and flow on camera.

Medical

In the Middle Ages people thought that gold had miraculous powers. They believed that if they could find the right recipe for a drink made out of gold, it could act as an elixir of youth.  Noblewomen like Diane de Poitiers in the sixteenth century drank ‘potable’ gold to try to stay young. Unfortunately consuming gold in large quantities can be toxic.

When the remains of her hair was tested in 2009, tests found traces of gold chloride and diethyl ether, suggesting that de Poitiers died of chronic gold poisoning.

In modern medicine small amounts of gold can be prescribed as a remedy. Sufferers of rheumatoid arthritis can use a gold compound as an anti-inflammatory. Doctors are currently researching the use of tiny gold fragments known as nanoparticles in new cancer treatments.

As gold is nonreactive and resistant to bacterial infections, it is used in implants for the inner ear and pacemakers as well as some medical equipment such as surgical tools and life support devices.

However, the main medical use of gold is for dentistry. This is nothing new.  Records from 700 B.C. show the Etruscans used gold wires to create dental bridges. Gold was used to make false teeth because it could be easily shaped and was biocompatible – meaning it doesn’t cause a reaction when placed in a human body. Some people and cultures have also used gold teeth as a visible sign of their wealth.

Today, gold is mainly used in dentistry for bridges, fillings, crowns, and orthodontic appliances because it still lasts longer than other dental materials. What was once medical necessity has become a fashion for some. Grillz – false teeth covers made of metal – are popular in hip hop culture and worn by celebrities like Miley Cyrus and Madonna.

Gold and food

Whilst eating gold is not going to cause any tooth decay, it will not provide any nutritional value either. Edible gold is a special nontoxic form of the metal which actually costs more to produce than non-edible gold. It has no taste or texture and will not be absorbed by the body.

However in Japan, there is a growing trend for consuming gold. The city of Kanazawa produces 98 percent of all gold leaf in Japan. One of the most popular tourist activities there is trying food and drinks covered with thin gold sheets and flakes. Visitors can sample gold-topped ice cream, shakes and even sushi.

In the UK you can buy Goldschlager cinnamon schnapps which has floating flakes of 24 carat gold. Some London restaurants have also created extravagant dishes with edible gold such as the Bombay Brasserie in Kensington. Its Samundari Khazana curry, meaning ‘seafood treasure’, included Beluga caviar-fllled cherry tomatoes wrapped in gold leaf.

Technology

Our modern world has found different uses for gold. Indeed much of our society relies on it. The unique properties of gold have aided the development of new technology such as the transistor and the microchip.

Transistors are a type of electronic switch. They act as a semiconductor device used to amplify or switch electronic signals and electrical power. One of the first transistors invented was made out of two gold foil contacts sitting on a germanium crystal. Microchips are made up out of transistors. They act as small units of computer circuitry used for computer memory or program logic.

Both transistors and microchips contain a fine gold wire to connect the different components and make connections. Electronic voltages and currents are easily interrupted by metal that corrodes or tarnishes. Therefore a small amount of gold is used in many electronic devices because it’s impervious to humidity or corrosion.

The invention of the transistor and microchip have transformed the world of electronics and computer design. Our mobile phone’s connectors, switches and relay contacts all contain gold. Both desktop computers and laptops contain gold in their connectors. Items from alarm clocks to microwaves to televisions, even washing machines contain a little gold. Although we can’t see it, our twenty-first century society depends on the use of the gold in much of our technology.

Space gold

In 1977 the Voyager 1 and 2 space probes were launched. They contained phonograph records constructed out of gold. These records contain greetings, sounds and music to show what life on Earth is like. They are intended as a sort of time capsule for anyone – extraterrestrial life forms or future humans – who may find them. The records were made out of gold-plated copper to best preserve them in the atmosphere of space. The Voyager probes continue to sail on, drifting towards the furthest borders of our solar system.

Gold has a particularly useful quality for space travel. It is able to reflect infrared radiation. For this reason it is used on astronaut outfits, especially the visor. Space vessels also have a layer of gold coated polyester which reflects harmful rays and helps stabilize core temperatures inside. The gold in the onboard electronic devices have an added benefit in the vacuum of space as they act as a lubricant between the mechanical moving parts.

In 2020 NASA’s James Webb Space telescope is due to launch into space. The particular quality of gold that makes it so suitable for space use will actually form the basis of this experiment. The telescope’s mirrors are coated with a microscopic gold film that reflects infrared light from space to allow it to be studied by the telescope’s own instruments.

As our technology continues to grow and change, we can’t predict what the future holds in store. One thing we can be certain of however, the unique qualities of gold means it will continue to play many different roles in our society.

References

• Zorach, R. and Phillips Jr, M. 2016. ‘Gold Nature and Culture’ London. Reaktion Books Ltd.
• https://www.artsy.net/article/artsy-editorial-history-gold-art-ancient-egyptian-burial-masks-jeff-koons
• https://www.nasa.gov/feature/goddard/2016/james-webb-space-telescopes-golden-mirror-unveiled
• https://www.wired.co.uk/article/extract-gold-from-electronics
• https://www.telegraph.co.uk/finance/newsbysector/industry/mining/8180569/A-history-of-gold.html
• https://www.livestrong.com/article/519855-can-gold-be-harmful-to-the-human-body/
• https://voyager.jpl.nasa.gov/golden-record/
• https://www.foodrepublic.com/2016/01/08/does-eating-gold-provide-any-nutritional-value/
• https://www.thedrinksbusiness.com/2018/01/londons-10-most-expensive-dishes/11/
• https://www.ancient-origins.net/history-famous-people/mistress-midas-touch-her-hunger-gold-would-be-death-her-009589

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