1868 Sydney Mint Sovereign - PCGS MS62

Australia, 1868 Sydney Mint Sovereign -

Of the last four dates of the Sydney Mint sovereign series, the 1868 is the scarcest. Generally well-struck, with a sharp wreath, the date is the perfect candidate for a Mint State type set: It has great eye appeal (unlike the more common dates, which can be weakly struck) but is also reasonably affordable (unlike the earlier dates, of which MS examples can run into five figures). For the variety collectors, the coin can be found in two alloys: Copper and gold, and silver and gold. Earlier Sydney Mint coins were struck in the silver and gold alloy, which was how native Australian gold was found. Once metal refining techniques in the Australian colony became more sophisticated, the Sydney Mint was able to refine the raw gold into a copper and gold alloy that matched that of the British sovereign. The two varieties can be identified by their colour: The silver alloyed coins are bright and yellow, while the copper alloyed coins are a deeper red. Some collectors hypothesise that the silver alloyed coins were struck in 1868, while the copper alloyed coins were struck in 1869, but there is no evidence to support this hypothesis. The coin photographed above is a superior example of this not uncommon date, is well struck, and gleams with full cartwheel lustre. It is one of the nicer samples I’ve handled in recent times. Scarce.