In many middle eastern countries where the sovereign is held in high regard, it is illegal to sell imitation sovereigns unless they are marked with their true fineness. Jewellers wishing to sell their scrap gold in a form recognizable and acceptable to their customers make their own replica sovereigns, all with the fineness stamp.
So yes, while your "coin" is not a genuine legal tender sovereign and may not weigh the same as a genuine sovereign, it is (or should be) solid 22k gold. It is worth its weight in gold, but no more than that.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis