Watch List notes:

BRITISH COINS, MILLED GOLD SOVEREIGNS, Victoria, Gold Sovereign, 1863, numbers "827" struck in relief on truncation meets field, second larger young head left, date below, sharper more hooked incomplete 6, rev crowned quartered shield of arms within laurel wreath tied with bow below shield, die number 22 in relief below, the second 2 weaker than first, emblems below (Bentley 106; Marsh 48A R5; MCE 524; S 3853A). Scuffed with light surface marks and hairlines, otherwise about very fine, reverse better, extremely rare.
This intriguing variety first came to light in 1954 when an 827 numbered truncation with die number 22 reverse appeared in the Hatton Hoard of gold found in Derbyshire. This initial coin ended up in the British Museum Collection.
The 827 is thought to refer to a certain ingot of gold, as in 1863 another batch of brittle gold arrived for coining in the form of ingots numbered from 816 to 830. The "827" Sovereign coupled with the die number 22 reverse is the so-called second variety as it is thought that this die numbered "827" Sovereign was produced and struck from a second batch of re-melted "scissel" and scrap emanating from the Rothschild brittle ingots delivered to the mint around November to December 1863.

Estimate: £6000-8000