Heritage World Coin Auctions
ANA Signature Sale 3075 15 Aug 2019
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Australia
South Australia. British Colony - Victoria gold "Adelaide" Pound 1852 AU58 NGC, KM1, Fr-3. The exceedingly rare Type 1 variety with two linear circles around the beading on the reverse and a die crack by the "D" of "DWT". This filling of the die, evidenced by the large die break on the reverse, was the indirect cause of the rarity of the Type 1 Adelaide Pounds, as the reverse die failure caused a new reverse die, of a slightly different design, to be created after very few pieces had been struck from die 1.
The type's production as a whole derives from the tremendous shortage of coins in Australia in this period. However, gold dust and nuggets were in ample supply, and so the government of South Australia attempted to ease the situation by turning quantities of the gold into useable coin. Unfortunately, this was done before England had given approval to coin money, and, after a very limited mintage, word came from England to stop the production of gold coins, as they noted that the Assay Office was not a legal entity and should not be striking the coins. Because of this short production, even the later (KM2) Adelaide Pound issues are considered quite scarce in better condition, but the KM1 beaded reverse Type 1 issue is exceptionally so, with the Standard Catalog of World Coins noting only 20-50 pieces produced in total. This is one such example of this Australian rarity, displaying lustrous golden fields and virtually no wear to the devices. A laudable coin, and a fleeting opportunity for the Australian specialist, one that will likely not be seen again for some time.
https://coins.ha.com/itm/australia/south-australia/australia-south-australia-british-colony-victoria-gold-adelaide-pound-1852-au58-ngc-/a/3075-32081.s?type=CoinArchives3075
HID02906262019
© 2019 Heritage Auctions | All Rights Reserved
Estimate: 30000-50000 USD
South Australia. British Colony - Victoria gold "Adelaide" Pound 1852 AU58 NGC, KM1, Fr-3. The exceedingly rare Type 1 variety with two linear circles around the beading on the reverse and a die crack by the "D" of "DWT". This filling of the die, evidenced by the large die break on the reverse, was the indirect cause of the rarity of the Type 1 Adelaide Pounds, as the reverse die failure caused a new reverse die, of a slightly different design, to be created after very few pieces had been struck from die 1.
The type's production as a whole derives from the tremendous shortage of coins in Australia in this period. However, gold dust and nuggets were in ample supply, and so the government of South Australia attempted to ease the situation by turning quantities of the gold into useable coin. Unfortunately, this was done before England had given approval to coin money, and, after a very limited mintage, word came from England to stop the production of gold coins, as they noted that the Assay Office was not a legal entity and should not be striking the coins. Because of this short production, even the later (KM2) Adelaide Pound issues are considered quite scarce in better condition, but the KM1 beaded reverse Type 1 issue is exceptionally so, with the Standard Catalog of World Coins noting only 20-50 pieces produced in total. This is one such example of this Australian rarity, displaying lustrous golden fields and virtually no wear to the devices. A laudable coin, and a fleeting opportunity for the Australian specialist, one that will likely not be seen again for some time.
https://coins.ha.com/itm/australia/south-australia/australia-south-australia-british-colony-victoria-gold-adelaide-pound-1852-au58-ngc-/a/3075-32081.s?type=CoinArchives3075
HID02906262019
© 2019 Heritage Auctions | All Rights Reserved
Estimate: 30000-50000 USD