Australia: South Australia. British Colony - Victoria gold "Adelaide Assay Office" Ingot ND (1852) MS63 NGC,...

Description

Historic Adelaide Assay Office Gold Ingot

South Australia. British Colony - Victoria gold "Adelaide Assay Office" Ingot ND (1852) MS63 NGC, Fr-4 (Rare), Rennik-pg. 20, 3, McDonald-pg. 40, Deacon-3 (R3). 15.58gm. Type 1. An unimaginably rare piece and one of only a handful not institutionally impounded, whose unassuming visuals are completely overshadowed by sheer historicity surrounding not only its creation but those that owned this very example. Among the smaller gold ingots we generally handle yet packing an impressive punch as a finely preserved specimen, likely the product of a keen collector having tucked away this piece not long after its issuance. Cast in a fairly crude manner with obverse text "WEIGHT OF INGOT" slightly off-planchet and stamped "10" indicating the pennyweight, a contemporary value of one Pound, seventeen Shillings, and one and one-half Penny. While the Government Assay Office of South Australia filled the need to process an influx of gold, this treatment proved impractical due to the varying weight and fineness of these ingots coupled with a general lack of circulating and standard currency. A mellowed rose-gold resplendence rests atop the present ingot, punctuated by lemon accents and gentle residual luster. While the occasional weakness and obfuscation occurs as a result stamping, this does little to detract from the overall appreciation of this momentous ingot. An amazing survivor that is expected to be among the sale's most anticipated lots. Sold with the original Quartermaster Collection lot card.

Ex. Quartermaster Collection (Monetarium, Australia June 2009, Lot 1); John Jay Pittman Collection (David Akers August 1999, Lot 4921); Farouk Collection (Sotheby's February 1954, Lot 841), Virgil Brand (Brand Journal #123453); Baron Philip Ferrari de La Renotiere Collection (Sotheby, Wilkinson & Hodge Auction, March 1922, Lot 693)

The Australian Gold Rush of the 1850s brought about many challenges for both miners and the communities they had left. After months away, droves of individuals would return to their respective towns, Adelaide included, with ample gold in tow. The necessity to process this gold became immediately apparent, and, under the Bullion Act of the Province, the Government Assay Office of South Australia was authorized. Prior to the striking of the instantly recognizable "Adelaide" Pound, the Assay Office issued gold ingots for the purpose of backing banknotes circulated by local banks. These proved unsuccessful and would soon be replaced by the next lot in this very sale.

Metal: Gold
Diameter: 25mm

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



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