1852 Adelaide Pound Type II Lustrous UNC

1852 Adelaide Pound Type II Lustrous UNC

Regular Price $50,000.00

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Australia's First Legal Tender Gold Coin

During the gold rush of the mid 1800's thousands of men left South Australia in search of their fortune in the gold fields of Victoria taking with them currency in the form of gold sovereigns. As a result huge economic stress was apparent throughout South Australia with many mines closing.

On the 28th January 1852 desperate to boost its failing economy the Bullion Act of 1852 was passed. The act allowed the formation of the Adelaide Assay Office assigned to assessing the purity weight and characteristics of gold purchased from the Victorian gold fields. As an incentive for the miners to bring their gold to South Australia the assay office offered a higher price per ounce than those in Victoria.

To overcome issues of an unpopular ingot an amendment was made to the act allowing ten shilling one two and five pound gold piece to be struck by the Government Assay Office in Adelaide. 

In a rush to produce the coins the first of the designs by engraver Joshua Payne failed with around 50-100 coins exhibiting a severe die crack on the reverse side at about 12 o'clock. This is now known as the Adelaide Pound Type I.

A new die was quickly produced to replace the cracked die with the only major change being a crenellated inner circle on the reverse instead of the beaded inner circle of type 1. This is known as the Adelaide Pound Type II. 

24 648 Type II's were struck but it is believed only a small percentage actually circulated as it was quickly discovered that the coins had almost two shillings of intrinsic gold value above the the one pound and were soon withdrawn and or melted by profiteers or official decree. 

This Adelaide Pound Type II that we are offering exhibits a rarely seen beautiful lustre and is of uncirculated condition. 

  • Provenance - Sold by M.R.Roberts (Barrie Winsor) to a private collector in 1988
  • Seen Elsewhere Priced @ $70 000

Refund policy

Shipping

We will endeavour to deliver orders as quickly as possible but, please allow 3-4 weeks for delivery within Australia and 4-6 weeks overseas.

We require full payment with order, plus all shipping/postage charges before we dispatch any goods.

All shipping/postage (including insurance) costs are subject to change without notice.

Shipping charges for Australia is a flat fee of $8.50, except heavy items such as coin rolls, books, accessories and large quantities of coins and banknotes which will be charged at current Australia Post charges. We will advise you of these costs before shipping.

Overseas shipping charges as follows; orders up to 1kg;

  • South Pacific Zone 1 - $25.00
  • Asia Zone 2 - $28.00
  • Taiwan - $95.00
  • North & South America Zone 3 - $30.00
  • Europe Zone 4 - $35.00

Orders over 1 kilogram, please contact us for shipping and insurance charges.

All coins, banknotes and tokens are completely guaranteed for title and authenticity. We do offer refunds on all items, less all postage and insurance costs, if returned in original (undamaged) condition within 28 days of receipt, subject to conditions. We will replace any damaged item (if available) when returned to us in original packaging as supplied.
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