5 Sovereigns - Elizabeth II 3rd portrait, Proof

The five-sovereign piece was revived in 1980 after a decades-long absence, initially as a collector vehicle with no pretense of circulation. By the time the third portrait — Raphael Maklouf's effigy, introduced in 1985 — appeared on the denomination, the Royal Mint had firmly positioned these large gold proofs as prestige annual issues aimed at international bullion investors and domestic collectors alike.

Maklouf's portrait was replaced by Ian Rank-Broadley's fourth effigy in 1998, making this a comparatively short production window of just thirteen years.