1893 Melbourne Veiled Head Sovereign - PCGS MS62

Australia, 1893 Melbourne Veiled Head Sovereign -

Although the 1893-M Veiled head sovereign has the same catalogue value as the 1896-S sovereign in UNC, the 1893-M is a far rarer date. In fact, after the 1899-P, the 1893-M is the key date of the series, rare in UNC, and very scarce in the higher Mint State grades. Unlike the 1893 London, which has been graded up to as high as PCGS MS66 (November 2013), the 1893 Melbourne was never put aside in sets or the like, so the number of coins that exists in Mint State must be limited. Even in the lower Mint State grades, such as MS62, the coin is very scarce. Catalogues $1,275 in UNC in McDonald, but this severely underrates the date.