Australia: George V gold Sovereign 1920-S MS63 PCGS,...

Description

Iconic 1920-S Sovereign In Choice Mint State

George V gold Sovereign 1920-S MS63 PCGS, Sydney mint, KM29, S-4003 (Of highest rarity), Marsh-280 (R6). Such is the rarity of this date and mint pairing that it has earned the illustrious title of "the King of Australia's Sovereigns." Revered in the Quartermaster catalog as "Australia's rarest circulating Sovereign" and esteemed by the Bentley Collection cataloger as "Legendary," an unending array of superlatives underscores the significance of encountering this extraordinary type in the numismatic arena. For the cataloger, this occasion is both exhilarating and humbling, as one of the privileged few to handle such a remarkable emission firsthand, while also acknowledging the debt owed to predecessors in unraveling the origins and narrative of these scarce survivors. The meticulous research by Mr. Hodgson, supported by Mr. Dyer of the Royal Mint Museum, appears to provide a definitive account. Now, in the presence of the coin itself, a moment of quiet reverence ensues, though brief remarks are warranted. Graded Choice Mint State by PCGS, the obverse reveals minor marks to the King's features and occasional field impacts. On the reverse, attention is drawn to the characteristic 'pickled' surface, the well-executed date, and the distinctive 'S' mint mark. Further scrutiny uncovers a spot of rub between the horse's front legs, noted for completeness. Concluding the visual assessment, the fields exhibit an appealing, predominantly even honeyed flaxen tone emboldened by surprising vitality in mint bloom. Overall, this selection commands serious consideration from astute collectors of Australia's rarest gold emissions and we expect to witness a warm welcome from the international numismatic community.

Ex. St. James's Auction 25 (March 2014, Lot 5); Monetarium, Australia to the George Collection by Private Treaty; Noble Numismatics Auction 50 (March 1996, Lot 1470)

Owing to the exemplary investigative work set forth by Howard Hodgson in his two-part article "The 1920 Sydney sovereign: A centenary review" (Coin News April/May, 2021) it is now conclusively understood from the Royal Mint Annual Report that the total mintage for the 1920-S issue was 360,180 pieces, all produced from two pairs of 1920-dated dies and struck in January and in June 1920. The mintage number for the 1920-S Sovereign may benefit from additional framing to fully appreciate the significance. During the pre- and post-WWI era, mintages typically exceeded 1 million coins annually across Sydney, Melbourne, and Perth, with the bulk increasingly produced in Perth from the abundant gold derived from Western Australia. By 1918, production of Sovereigns surged to nearly 4 million per annum due to wartime demands, while production of half Sovereigns ceased in 1917 as they were deemed unnecessary for commerce. Hodgson's article highlights a drastic shift in 1920 towards minting smaller denominations like Pence and Halfpence to satisfy the Commonwealth Treasury's wishes. The rarity of the 1920-S Sovereign is attributed largely to most of its mintage being melted down with 105 million other Sovereigns in the late 1920s and early 1930s in the US and England. While previous scholarship suggested these rare coins were commissioned by Sydney's Jacob Garrard for his Golden Wedding Anniversary, Hodgson refutes this, indicating no formal order has been located, and suggesting Garrard much more likely sourced them from the Commonwealth Bank, which received new Sovereigns directly from the Sydney Mint during the 1920s. Hodgson further stipulates the survival of the Garrard family coins is likely attributable to the fact they remained safely tucked away in Australia and thus avoided the melting pots of the UK and the USA. As such, it is notable that the 1920-S represents what is perhaps the paramount rarity of the regular circulation Sovereign series, rather than a subset minted to order. Currently, the following additional examples are known to the public eye, in addition to the at least two coins mentioned by Hodgson that reside in the Garrard family possessions. What happened to the Dixson Collection example in the State Library of New South Wales which was replaced with a fake by the infamous forger David Gee, remains a mystery to this date and a story for another time.

1. Spink UK Auction 90 (March 1992, Lot 438); "The Property of a Lady" Collection; Spink Australia Auction 2 (November 1978, Lot 631); A.H.F. Baldwin Collection. It is understood this coin currently resides in an institutional collection.
2. Baldwin's Auction 76 (September 2012, Lot 736); The Bentley Collection; Purchased by Winsor & Sons; Kurt Jaggard Monetary Auction Sale 2 (April 2006, Lot 404); Jaggards, Sydney Retail List (February 1979)
3. MDC Monaco Auction 14 (May 2024, Lot 204); MDC Monaco Auction 7 (June 2021, Lot 123); St. James's Auction 32 (May 2015, Lot 240); Park House Collection; Quartermaster Collection (Monetarium, Australia June 2009, Lot 196); Paul Terry Collection, sold by Monetarium, Australia to Tom Hadley (Quartermaster) in 1992 by Private Treaty; R. Jaggard Collection (sold by private treaty in 1989). Certified SP66 by PCGS.
4. Heritage Auction 3099 (May 2022, Lot 30154); The Regent Collection specimen. Certified MS64+ by NGC.
5. The National Coin Collection, Royal Australian Mint specimen. Ex. Melbourne Mint.

From the James D. Wolfensohn Collection of Australian Sovereigns

Metal: Gold
Diameter: 22mm
Weight: 7.9881g
AGW: 0.2355oz
Mintage: 360,000

More information about Australian Coins. See also: Australia World Coin Nationality.



Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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