1920 Melbourne George V Large Head Sovereign Choice Unc (PCGS MS63)
Obverse: King George V
Reverse: St George & Dragon
The first of Melbourne's rare dates from the "Roaring Twenties", impeccable grade.
Cast your eye over a list of the mintage figures for Australian sovereigns throughout the 1920s, and you'll see they’re extremely volatile.
This decade includes the rarest coin in the entire Australian sovereign series (the 1920 Sydney sovereign), as well as what is arguably the most common coin in the entire sovereign series, the 1925 Sydney sovereign.
This volatility in production was caused by a range of factors:
• changes in Australia's national economic output;
• declining gold production;
• significant changes to exchange rates; and
• the repatriation of Australia's national debt following the end of World War I
These all played a role in pushing the quantity of Australian sovereigns struck (and more importantly, the quantity of Australian sovereigns released) to previously unforeseen highs and lows.
The annual reports of the Australian branches of the Royal Mint of the 1920s make liberal references to “specie” (coinage) being forwarded to the Commonwealth Treasury (via the Commonwealth Bank) as soon as it was struck.
All of the sovereigns struck from gold ore supplied by members of the Australian Gold Producer’s Association was sold overseas, ensuring that the number of sovereigns introduced to circulation (and thus now available to collectors) was minimal at best.
This particular example remains strong on the high points of the obverse - the tip of the King's moustache; the King's eyebrow and cheekbone; as well as the King's hairline all remain proud and distinct.
The bridle; garter and St George's chest are all as expected for a sovereign of this grade, from this Mint and struck in this year.
Click the PCGS icon below to verify the certificate details for this coin directly on the PCGS website.
PCGS Certificate Number: 39114075
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