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GOLD HALF SOVEREIGN 1856 about Unc
Just a hint of rubbing across the high points either side - a clearly superior example of Australia's second half sovereign.
TI4373OBV.jpg TI4373REV.jpg
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HALF SOVEREIGN. Queen Victoria. 1856. Queen Victoria. Sydney Mint "Australia" Reverse. Type I Portrait. about Unc.

Just a hint of rubbing across the high points either side - a clearly superior example of Australia's second half sovereign.


It's not until I examined the auction statistics for this coin that I truly appreciated just how rare and important that it is in this condition.

As the graph at the bottom of this page indicates, the 1856 Sydney Half Sovereign in about Uncirculated condition rates among the top 5% of known examples (based on a survey of all known examples sold at auction since 1995).

In fact, just 5 similarly graded examples have been seen since 1995 - three of these had qualifications to their grading (such as a hairline scratch or a rim bruise), while just two equivalent examples have been seen at auction in the past 14 years. The last example sighted was seen in November of 2005, and it sold for a nett price just shy of $20,000.

Just three coins in better condition have been seen in the same period - two in Uncirculated condition (last seen in April 2006 for approximately $46,000 nett), and two in Choice Uncirculated condition (last seen in the Quartermaster Collection in June 2009 for approximately $50,000).

All of these statistics show that a half sovereign collector looking for a premium example of the Type I Sydney half sovereign has very few options available to them! The most heavily worn 1855 half sovereign could expect to bring around $25,000 in the current market, while the about Uncirculated 1855 Sydney half sovereign in the Quartermaster Collection made in excess of $300,000! This leaves the 1856 half sovereign as the only realistic option available for most half sovereign collectors.

Premium coins such as this are perfect to set aside over the long term - very few alternatives are likely top present themselves in the intervening years, and when the collector market for half sovereigns truly becomes "hot" (as it did in the early 1980's), that's when elusive and beautiful coins such as this one really have their time in the sun.