Watch List notes:

BRITISH COINS, MILLED GOLD SOVEREIGNS, Elizabeth II, Gold Proof Sovereigns (4), 1985, 1986, 1987, 1988, with frosted design elements, third crowned portrait right, engraved by Raphael Maklouf, RM incuse on truncation, legend reads ELIZABETH II DEI. GRA. REG. F. D, finely toothed border within twin linear concentric circles and raised rim both sides, rev struck en médaille, engraved after Benedetto Pistrucci, St George slaying dragon with sword, helmet with streamer, horse with long tail, broken lance on groundline to left, date in exergue, tiny B.P. to upper right (Bentley -; S 4271). Generally as struck, third with a few light spots on the reverse, last toned, without certificates or boxes. (4)

Estimate: £750-850