“The greatest gold rarity of the British Empire” is coming back up for sale.
That’s the phrase used by St. James’s Auctions to describe the 1920-S gold sovereign coins struck at the Sydney Mint, then a branch of London’s Royal Mint.
One of four known examples highlights the firm’s May 19 auction of the Park House Collection of gold sovereigns.
Though the 1920-S sovereign is a rarity with significant stature, the coming sale marks the third time in four years that an example has been offered at auction.
According to the auction house, the example it offers is the finest known of all extant pieces. The firm calls it a “proof sovereign” and “special strike,” and distinguishes it from other extant examples.
The auction house describes the coin in the auction as “obviously specially struck with an unusual degree of sharpness on King George’s portrait,” with “the horse and dragon ... both boldly rendered” on the reverse.
The mintage for 1920 sovereigns is recorded as 360,000 pieces, but researchers believe the count includes 1919-dated pieces.
In 2012 another example of the 1920-S sovereign was sold as part of the Bentley Collection. Steve Hill of A.H. Baldwin & Sons Ltd., which conducted the sale, suggested that the 1920-S coins were made for some “special event.”
One of the four known examples is in a museum, and the other two are now in private collections.
The Bentley Collection piece (described as “practically as struck”) realized a hammer price of £780,000 ($1,261,520 U.S.), and the George Collection example (described as “virtually as struck”) sold for £542,500 ($904,472 U.S.).