South Africa: George V gold Sovereign 1923-SA MS66 Prooflike PCGS,...

Description

Finest Known 1923-SA Sovereign Ex. Bentley Collection

George V gold Sovereign 1923-SA MS66 Prooflike PCGS, Pretoria mint, KM-21, Spink-4004, Marsh-287 (mintage 406 pieces), Hern-S338. This piece exhibits a velvety texture with an effulgent sheen. Despite its razor-sharp detailing, the strike doesn't consistently reach its most elevated points, affirming that this is not a proof coin. Minor abrasions further underscore its marked intent for commercial use. It radiates an enchanting glow enhanced by subtle undertones of red in the fine gold. The obverse rim is distinctly imprinted with small, sharp denticles, while the reverse rim smoothly merges into an array of precisely stubby incuse blocks. Additionally, the edge displays a pronounced reeded pattern that meets the rim with a sharp, knife-like finish. This coin is undoubtedly an exceptional issue, attentively crafted and pristinely preserved. This particular coin's provenance can be traced back to the Bentley Collection. The provenance presented is unequivocal and establishes a compelling link to this remarkable memento of numismatic history. This eminent gold sovereign, a member of the premier batch minted in Pretoria in 1923, was preserved by Kahan at its issue. Certified, it tops the population of merely a handful of recognized specimens and is currently tied for the finest extant with one other example.

Ex Heritage Auction 3021 (January 2013, Lot 22688); The Bentley Collection, Part 2 (September 2012, Lot 920)

Over time, another gleaming specimen of this coin, rated MS65 by PCGS, has been part of the prestigious Terner Collection. That piece, along with a few others seen towards the end of 1993, emerged in London and were traced back to Raoul Robellaz Kahan's estate. Kahan had a significant career that took him to the mints in Perth and Bombay during World War One and subsequently to the Rand Refinery in South Africa a few years later. Officially established on December 14, 1922, by King George V, the mint opened for operation sometime in 1923, although the precise date is yet to be determined. Notably, gold influx started in earnest only around a year later. Citing a 1924 report by the mint's Deputy Master, Marsh clearly stated in his book, 'The Gold Sovereign' that the mint received only one gold deposit during this period. This deposit, originating from old jewelry, was valued at £406.0s.9d after accounting for refinement and mint charges at the Rand Refinery. Consequently, the refined gold was used to mint Sovereigns, which were returned to the depositor. Evidence hints at, but does not conclusively establish, the creation of 406 currency sovereigns at Pretoria in 1923; the ambiguous reference to "resulting sovereigns" by the mint master leaves room for speculation. The identity of the "depositor" was notably omitted. What we can definitively say, however, is that a large fraction of these coins did not endure over time, contributing to their scarcity. Marsh's correspondence with the South African Mint from 1979-1980 substantiates the conclusions reached in the 1924 report. The existence of a currency specimen from the 1923-SA sovereign set, held in the Mint Collection at Pretoria, is verified by data from 1980 to 1985. As one of the very few extant pieces, it carries an 'Extremely Rare' classification. The possession of such a rarity was previously limited to a select few - among them, Kahan. His astuteness and good fortune led to his acquiring several of the newly minted gold sovereigns, embossed with the mint's signature "SA" above the year."

From the Gatsby Collection, Part II

Metal: Gold
Diameter: 22mm
Weight: 7.9881g
AGW: 0.2355oz
Mintage: 64

More information about South African Coins. See also: South Africa 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.

View all of [The Gatsby Collection of South African Coinage, Part II ]

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