1868 Sydney Mint Sovereign


1868 Syd Mint Sov date side
1868 Sydney Mint Sovereign
COIN
1868 Sydney Mint Sovereign
QUALITY
Uncirculated
PROVENANCE
Barrie Winsor Collection
PRICE
$ 4950
COMMENTS
This 1868 Sydney Mint Sovereign is a remarkable piece of colonial history. The coin was issued at Australia’s first mint, the Sydney Mint nearly 150 years ago yet it looks like it was plucked off the production line yesterday. The design imparted a uniquely Australian flavour into the nation’s first official gold coinage, a young Queen Victoria wearing a sprig of native banksia in her hair. And the word AUSTRALIA appearing on the reverse. And while this may seem trite … ‘Australia’ only appeared on Australia’s sovereigns between 1855 and 1870 making the Sydney Mint design one of the most innovative and important in Australia’s sovereign history.
STATUS
Sold November 2016
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Unlike South Australia, which overcame a currency shortage by striking the Adelaide Pound, without British Government approval, Victoria and NSW followed protocol and petitioned for a branch of the Royal Mint to be established in their colonies. In fact, Sydney had applied for a branch of the Royal Mint as far back as December 1851 following the discovery of the rich Victorian goldfields.

On the 9 th August 1853 Queen Victoria approved an Order in Council prepared by the British Government to establish Australia’s very first mint at or near Sydney, in New South Wales. Although it was initially envisaged that the Sydney Mint would produce imperial design sovereigns, it was decided that, as the coins would be legal tender only in the colonies, a design specifically attributed to the Sydney Mint should be produced.

Two years later the designs had been approved. Dies produced at the Royal Mint London, and dated 1855, were despatched to the Sydney Mint which had been established on the site of the old Rum Hospital in Macquarie Street. The mint began receiving gold on May 14, 1855, and issued its first sovereigns soon after on June 23.

Though the reverse side featured a uniquely Australian design, with the words Australia and Sydney Mint featured boldly, the obverse side was similar to English coins with the plain, ribboned head of Queen Victoria. The reverse design has fascinated historians and collectors alike for decades. The coins were inscribed with the national name, Australia, even though the country was operating as separate colonies. Australia did not operate under a single government until Federation in 1901.

The Australian flavour of the nation’s gold coinage was strengthened in 1857 when the design was altered to incorporate a sprig of banksia in the Queen’s hair.

In 1871, approval for the Sydney Mint design was abruptly revoked and Australian Sovereigns once again took on the traditional British flavour. Not only was the banksia removed from Queen Victoria’s hair, but two new reverse designs were also introduced, the traditional British St George and the Dragon, and a shield design, which ran in parallel.

 

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