Sovereigns were issued for George IV in each of the ten years from 1821 to 1830. From 1821 a large laureate portrait combines with St. George and the dragon on the reverse. In 1825, a new design were introduced with a bare head, and a crowned shield on the reverse. In 1825, both types were issued.
This one is the bare head issue and it graded from PCGS as AU55. A scarce coin especially at this grade with few known examples in better grades.