No Picture The 1989 Gold Proof 500th Anniversary Sovereign - The 1989 gold proof sovereign is one of the most sought after modern gold proof sovereign issues. For the first time since 1817, both the obverse and the reverse designs of the sovereign were jointly changed. Benedetto Pistrucci’s popular portrayal of St. George slaying the dragon was removed as the reverse design for one year. A design was needed to commemorate the 500th anniversary of the sovereign.