Watch List notes:

MS63+ | Australia, Victoria (1837-1901), gold Sovereign, 1886, Melbourne Mint, young head left, mintmark below with Latin legend and toothed border surrounding, VICTORIA D:G: BRITANNIAR: REG: F:D:, rev. St. George and dragon right, broken lance to left on ground line, date in exergue, initials B.P to upper right for engraver Benedetto Pistrucci, edge milled (Marsh 108; S.3857C). An extremely appealing example with strong residual mint lustre, graded by PCGS as MS63+.

PCGS Certification 29416169.

Calendar Year Mintage 2,902,000.

The Latin legend translates as "Victoria by the Grace of God, Queen of the Britons, Defender of the Faith".
Estimate: £600-800