1931 Melbourne Sovereign - PCGS MS62

Australia, 1931 Melbourne Sovereign -

One of the key dates of the small head series. There are many ways to analyse the relative rarity of a coin. If you’ve been a collector for long enough, you begin to develop a sixth sense about which dates are available and which are rare. The 1931-M sovereign is one of those dates that appears to be a lot scarcer than the catalogues indicate. In my view, it’s harder in Mint State than the famous 1926-P sovereign, which retails for around $3,000 in PCGS MS62. The 1931-M sovereign photographed above also grades MS62 and is priced at only $2,500. This, in my view, is a market anomaly—an anomaly that can potentially be traded on. If you take the view that the 1926-P is fairly valued at $3,000 in MS62, then it is reasonable to conclude that the 1931-M should be worth more than $3,000 once the broader market recognises the 1931-M’s rarity. This is a thesis warranting further research.