Watch List notes:

Melbourne, Australia (under Great Britain), sovereign, Victoria (young bust), 1872-M, horse reverse, from the Schiehallion (1879). Sp-3857; KM-7. 7.97 grams. UNC with slightly grainy surfaces, minor rim-nick, patch of orange toning on reverse, desirable first date of the Melbourne mint. From the Schiehallion, sunk in 1879 off the Isle of Wight, England. ($1000-1500)