1923 Pretoria currency-issue Sovereign - PCGS MS63

South Africa, 1923 Pretoria currency-issue Sovereign -

The births of some coins—like the 1930 penny, for example—are shrouded in mystery, and while Australian collectors may have to live with the mystery of how double-headed five cent pieces entered circulation, our colonial cousins in South Africa have grappled with a mystery of their own. At the centre of the mystery is the 1923 Pretoria currency-issue sovereign, South Africa’s rarest sovereign. That the coin started life as part of a consignment of old jewellery is well-known. What is up for debate—and what remains a mystery today—is the mintage. Just how many 1923-SA currency-issue sovereigns were minted? Estimates vary, from a low of 64 pieces to a high of 406. What is certain, however, is that the coin is rare. Regardless of the mintage, the number of coins certified by PCGS can be counted on one hand, while the total number of coins trading the market is in the low double digits. The coin above is one of the five examples graded by PCGS, and is the nicest to come onto the market since the example from the Bentley Collection in 2012. The coin is crisp and well-struck, subdued in appearance but original. The tell-tale definition in the horse’s mane is evident, while the fields are smooth and free of die polish (unlike the more common proofs, which are striated with die polishing lines). It is certainly one of the rarer rare-date sovereigns on the market, and is, in my view, comparable to Australia’s famous 1926-S sovereign, which trades at well over $40,000 in PCGS MS63. Exceedingly rare in any grade, but particularly so in this state of preservation, and perhaps one to put aside for the years to come. Please call +61 421 229 821 or +44 20 7097 1781 to discuss.