1923 Pretoria currency-issue Sovereign - PCGS AU58

South Africa, 1923 Pretoria currency-issue Sovereign -

The currency-issue 1923-SA sovereign is one of the king’s of the sovereign series. Minted in tiny numbers from allegedly one submission of scrap gold jewellery to the Pretoria Mint, the coin was practically unheard of until the 1970s, when numismatists discovered and authenticated a single example. Today, experts estimate that only a few dozen coins exist in mostly circulated grades. Despite some collectors still being unaware of the issue, publicity on the internet has helped the coin find its rightful place as one of the rarest sovereigns in the world: Indeed, in May 2020, the equal-finest example (graded PCGS MS66) sold for about AU$80,000 in public auction. The previous sale of a 1923-SA sovereign in PCGS MS66 was AU$47,500 in May 2013, representing a 7.75% return per year over seven years. The coin photographed above is far from an MS66 grade, but is certainly one of the nicest circulated examples I’ve handled. Retaining much cartwheel lustre, which is visible in the legends, the coin is well-struck and sharp. If you’re looking to complete a currency-issue South African sovereign set but don’t want to spend an amount closer to $100,000 for a mint state example, this is your coin.