dicker

Assuming you paid substantially less, even in it's current condition ( if geniune,and i mean geniune sovereign rather than geniune gold ) then use it as a trade up coin? Unless its your birth year..in which case, congratulations on both the coin and your incoming Guinness world record 😉 

Believe both @LawrenceChard @dicker are referring to it being a genuine sovereign, rather than questionable gold content. 

There is another possibility with respect to the edge knocks…
Some unscrupulous people fill areas of coins.  In the US it’s called “Coin Doctoring” and covers everything from chemically treating coins, through to disguising marks with dental wax and other fillers.  Often these de-grade over time and the owner only realised years later (or after a coin has been graded)
It could be the case that your coin had been interfered with and the treatment it had received has dissolved or fallen away over time…
https://coinweek.com/opinion/commentary/the-specter-of-coin-doctoring-and-the-survival-of-great-coins-2/

Your first concern should be whether it is genuine, as @dicker mentioned in passing.
It is London Mint, not Sydney, and if you are not sure whether it is proof, then it will not be.
This is probably the most faked of all UK coins, followed closely by the 1887 double sovereign.
There are many obvious fakes, and also some difficult ones made in the 1970s, probably in Beirut.
😎

Fields are nice for the coin the heavy edge knocks are a detractor.  These  are always an “alarm bell” coin as @dicker pointed out there’s loads of fakes of these around.
For me I’d stick this in for grading but would be crossing my fingers if they would  grade it due to the edge knocks.
If this is a coin you have inherited then you have nothing to lose getting the coin graded at either PCGS or the NGC 
 

I think people would need to see the Rev and Obv to guesstimate a grade.  The edge knocks will impact the grade.
I don’t grade coins at all, so I am biased but you may want to consider the following.
- Are you grading to establish that the coin is genuine? (this is a *very* heavily counterfeited coin?
- Do you simply want to know the grade?
- Are you grading to sell (linked to the first point)
I am in a phone on bumpy public transport and can’t see the pic super clearly, but I would guess it is Bullion but “Proof Like” as PCGS would put it - I have seen similar.  
 
Best
Dicker

I'm 100% sure that it is geniune 

To grade a coin it’s only possible when you can see both sides. 

Firstly I have to point out that the vast majority of members are respectful to one another and respect other member's trade topic. So thank you to all of these members.

TSF has a policy against unsolicited comments in other members trade topics. Recently there has been a growing number of posts, and childish behaviour that has been slipping over from the non PM section into genuine trade topics of other member's, and completely derailing their sales topics and turning them into a joke. TSF is all up for members having a laugh and some banter and joking around, and it is why we specifically have a non PM section of the forum as well as this topic here, so members do have a section where they are allowed to discuss (nearly) anything and to joke around in. But member's trade topics where your fellow members are trying to trade in, is not the place.

Please remember that TSF is a business, with many professional dealers and industry representatives on as well as many serious collectors and investors. We are trying to grow the trade section for everyone. We would be grateful if you could please respect other forum members and our rule about unsolicited comments and treat the forum's trade section with seriousness as it is a place of trade.

In general I try not to interfere and like I said am all up for members having fun and a joke about (in the correct non PM section of the forum) but I have even had continual reports from a few long standing members who are not happy that the trade section is receiving a rise in such unsolicited comments and behaviour, which has resulted in several sellers sometimes withdrawing their items from sale. Again please try to contain yourself within the non PM section. 

Unsolicited comments (such as pages and pages of members joking around in one trade topic) also unfairly bump such topics up, hiding other members trade topics as well as completely derailing and destroying the trade topic of the member who is just trying to sell their item(s). It is also very off-putting to new members, we wish to encourage new members and for TSF to grow.

Please see the forum's rule on unsolicited comments here: 
Sellers who receive unsolicited comments in their trade topics, please report for moderator review. Trade topics may also be put into moderator approval queue, and/or warning points issued to accounts as the moderators see appropriate in order to uphold the forum's trade section.  

my son but I am his rep on here, hes 12 and has over 2kg of silver already....

Not a flattering effigy of Bob Marley (due to the dreadlocks) but still one of my most treasured coins…
1995 Jamaica $100 Robert Marley gold

Its hard to have a formula for this sort of thing and the market and the margins are ever moving,
A 5% over spot price on any sovereign is rare from dealers these days, even for best value sovereigns.  And stock levels are super low and demand seems to be through the roof so premiums seem to be creeping up and up from dealers.
Where ex-mount is concerned I would pay a lot more than spot for a Guinea or a George IV half sovereign ex-mount or a double sovereign if it was not polished/harshly cleaned, but I would not even buy a 1905 (for example) for spot if it had been mounted if there was one speck of solder on the coin.  A lot of mounts, those that hold the coin rather than use solder, do not really damage the coin but I find anything with any age that has been mounted has been treated like jewellery and polished to buggery, which ruins any premium on anything but the most rare of coins.  

"Ex-Mounted" only describes a historical fact, and not the grade of the coin.
A coin could be ex-mount, yet still be in perfect mint condition (if that is not an oxymoron), or it could be completely ruined, scratched, underweight, and  / or contaminated by solder. It could be so bad that it is impososible to distinguish whether it is genuine or fake.
One Blackpool dealer offers "Grade C" sovereigns, which are too bad to sell as bullion (although I often see similar coins and fakes which have been supplied by some of our less transparent competitors).
Anything worse gets scrapped.
😎

Welcome to the silver addicts club.
Once you get started you will need your habitual regular fix !!
Advice to a noob from a seasoned old fart -
1. Cut your teeth on sovereigns ( maybe consider half sovereigns - BUT make sure you can tell the difference !!! )
I've seen people confuse a half and a full and believe me unless you hold both at the same time you have a 50% chance of getting this wrong.
2. If buying silver - good place to start, as relatively cheap compared to gold - DO NOT BUY YOUR FIRST COINS ON E_BAY.
Stick to popular bullion one ounce coins like Britannias, Maples, American Eagles, Philharmonics, Libertads, Pandas etc.
I strongly recommend you buy from sellers on this forum with a perfect feedback score as you will most likely get the best prices.
Failing that check out the popular dealers - BullionbyPost, Atkinsons, Chards, SilverTrader and others and look for the best deal taking into account VAT and postage as some of these sellers add VAT to their headline price and some include shipping.
3. Buy digital scales for about £10-20 that can measure to 0.01g.
4. Ensure you have a reference to the coins you buy stating dimensions, weights etc. and be able to measure these things and understand that modern fakes from China can look perfect but there are tests you can do and that's why until you have some experience and genuine coins in your inventory only then can you consider eBay and Facebook etc. which are ripe in fakes but not from many reputable sellers - only you don't know who they are yet.
This forum can be your best friend so be prepared to spend time reading various posts.
Most questions will be answered here and if you wish to start your collection say in silver place a Wanted in the trade section stating what you are seeking, quantity and ideally price you are prepared to pay after checking the dealers etc and maybe even sold on eBay listings so you know market prices. Most if not all sellers on this site have done their homework so be realistic in expectations to gain the best responses.

No such word as "should" in this hobby.
Coins will sell according to market sentiment and supply/demand.
Ex-mount coins will often sell at scrap values if they are bog-standard and hold no collecting value. However, if the damage isn't to bad they can sell as bullion grade or if rare, can sell for appropriately higher prices.

It’s a good auction with zero buyers fees which is very attractive.  
Frequently coins up for auction that are of interest to me and the customer service is great.  Particularly on the phone!

Screen shot the posting if you can
 

I just worked out that this set contains 2oz of Silver. For £420????

Store of value? I think this graph speaks volumes.
The bottom horizontal yellow line is the price of oil in gold grams
 
I found this presentation interesting
https://www.youtube.com/watch?v=PHKPa8K4bQ8
 

Its a c**p coin worth bullion and a half 

The photos are not a full Sovereign but a half Sovereign.  He has nicked someone else’s description and interpreted a die number 5 / 6 or 8 as an S.

Todays Binlord is either being fraudulent or is just clueless.
- Half Sov advertised as a Sov
- Invalid year and mint combination for a Half Sov
- Listed in category “Penny”
- Described as “one of the finest Victorian Shield sovereigns we have seen. Proof like with mirrored fields and basically as it was the day it was struck - stunning example”
What an utter Binlord.
I have emailed him and told him what’s wrong with his listing.  I don’t often get a reply…..but will post here if I do!
https://www.ebay.co.uk/itm/304753409960?mkcid=16&mkevt=1&mkrid=711-127632-2357-0&ssspo=BwJB_geRSgC&sssrc=2349624&ssuid=bYgKomkjQOW&var=&widget_ver=artemis&media=COPY
 
 

Todays Binlord is either being fraudulent or is just clueless.
- Half Sov advertised as a Sov
- Invalid year and mint combination for a Half Sov
- Listed in category “Penny”
- Described as “one of the finest Victorian Shield sovereigns we have seen. Proof like with mirrored fields and basically as it was the day it was struck - stunning example”
What an utter Binlord.
I have emailed him and told him what’s wrong with his listing.  I don’t often get a reply…..but will post here if I do!
https://www.ebay.co.uk/itm/304753409960?mkcid=16&mkevt=1&mkrid=711-127632-2357-0&ssspo=BwJB_geRSgC&sssrc=2349624&ssuid=bYgKomkjQOW&var=&widget_ver=artemis&media=COPY
 
 

Good advice.
Many people miss the opportunity to learn about real coins by looking closely at their small change.
In my youth, I must have looked at millions of (old) pennies, literally.
This sort of real life experience can teach stuff you will not easily find in books or online.
😎

You have not mentioned that they are different dates, and probably different mintmarks.
The second is 1911 to 1928, the first is 1929 to 1932.
The second could be any of the 7 mints, but unlikely to be Bombay, whereas the first cannot be London, and is most likely to be Pretoria, South Africa, but possibly Perth, or even Melbourne.
Details matter.
While you may not appreciate why, it helps to give all the information you already have before asking for further help or opinions.
In addition, the later coin has more wear, and looks as though it may have been polished at some time, while the earlier coin appears to have acquired some toning.
This page may help slightly:
https://goldsovereigns.co.uk/datesexist.html
Even though it does not relate to colour or alloy.
This page may help regarding alloys:
https://www.chards.co.uk/blog/analysis-of-alloy-content-of-gold-sovereigns/180
😎