Wednesday, August 16, 2017

1870 Australian Gold Sovereign

1870 Australian Sovereign TYPE II - Scarce

Graded by NGC as AU 58


The modern sovereign came about can be traced back to the Napoleonic wars. During the colonial era, the sovereign was known as a guinea. After the war, Britain wanted to revive back their coinage system. The idea was to have the guinea be re-issued but with a new design and that came about the birth of the Sovereign

Then in the 1850s, when the Sovereign became popular worldwide and the demand increased, another Mint was established in Sydney, Australia by the Royal Mint. However, to safe guard themselves, Australia was given its own unique designs for both obverse and reverse. Possible reasons could be that that the London Mint feared that the Sydney Mint might not produced the "expected standard" set by the Royal Mint

However, over a period of time, the fear was gradually diminished and in 1866, the Sydney coins were declared legal tender in Great Britain

In all, from 1855 to 1931, there were 9 different sovereigns produced for circulation. Each has its own unique design - on either the Obverse or the Reverse.As for the early Australian Sovereigns, the first sovereign type was struck by the Sydney branch in 1855.

The second sovereign type was produced between 1857 to 1870. Sharing the same reverse as the Type I coin, the obverse featured the young Queen Victoria with a Banksia wreath in her hair.

However, both the type I and type II were later changed to reflect those of the Imperial sovereign design. Both Type I and type II sovereigns are the most sought after by collectors of Sovereigns all over the world because of their difference from the London Mint designs.

This 1870 Australian Sovereign has been classified as Scarce in AUNC and Very Scarce in UNC.

This coin on has been graded by NGC as AU 58, a tiny mark from being UNC

1870 Australian Gold Sovereign