The Quartermaster Collection was owned by Queensland collector, Tom Hadley. He joined forces with rare coin dealer Barrie Winsor to form what is acknowledged as the most comprehensive collection of Australian gold coins ever formed.

The program of acquisition took three decades, each coin hand selected to acquire the finest quality. Opportunities to upgrade, and to improve upon the quality, were taken up during this duration to achieve the ultimate grade, available at the time.

The Collection became a benchmark for Australian gold coins. And is still to this day the yardstick by which other coins are judged. Exhibited at the Royal Australian Mint Canberra in 2005 to celebrate the 150th anniversary of the Sydney Mint's opening, it was eventually sold at auction by Monetarium Sydney in June 2009.

This 1923 Sydney Specimen Sovereign became available in 1992 and was selected to become part of the Quartermaster Collection.

The coin was especially struck as a Coin of Record at the Sydney Mint, a specimen strike. 

As no proofs were struck in 1923, Winsor knew this sovereign represented the ultimate quality. And it is indeed an immaculate coin, graded FDC, with a superb strike.

Winsor also knew he had secured the ultimate rarity when he acquired this sovereign for it was believed unique. To this day, there are no other known examples.

(Enlarged photographs are shown at the end of this page)

This 1923 Sydney Specimen Sovereign is one of the truly 'great' coins of Australian numismatics.

It is a Coin of Record, an especially arranged striking, produced at the Sydney Mint. Its status as one of the 'great' coins in the industry has come about because it is a special striking of a rare-date Sovereign.

(The 1923 Sydney Sovereign, in any quality, is an internationally acclaimed coin, sought after the world-over as an Australian rare-date sovereign. The mintage, minuscule for a sovereign, was 416,000. A recent offering at Heritage Auctions (US) in August 2024 saw a Choice Uncirculated 1923 Sydney Sovereign sell for US$33,600 or $60,000 Australian Dollars, with GST.)

Coins of Record were struck by the Sydney, Melbourne and Perth Mints to a proof or specimen finish, to meet the operational needs of the mint. They were not struck for commercial purposes to sell to collectors. Even so, the coins were meant to impress with smooth fields and a wealth of design depth. And only a handful were produced.

Coins of Record boast an aesthetic resilience. They are a powerful, artistic interpretation of coinage and, because of their extreme scarcity, hold an exalted position with collectors.

While all Coins of Record are valued and sought after, those of rare-date coins are considered particularly important and are highly valued.

For Winsor, this coin was the perfect fit for the Quartermaster Collection and was acquired in 1992. 

Coins of Record out of this era are rarely offered.

The standard George V portrait was depicted on Australia’s sovereigns between 1911 and 1928.

Proof strikes and specimen strikes of Australia's sovereigns were not produced every year, struck at the Sydney Mint in only 1920, 1922, 1923 and 1926. The Melbourne Mint only 1911. And the Perth Mint did not strike Coins of Record at all in this era.

And the numbers, on the few occasions they were produced, were minuscule with few available for today's collectors. At the Sydney mint, 1920 ( 1), 1922 (2) 1923 (1) and 1926 (3). (The number in brackets indicating the number of coins available to collectors.) The Melbourne Mint only struck Coins of Record in 1911 and one example is known.

Making it is one of the most difficult markets for collectors to buy into. The total market is eight coins, with dates ranging from 1911 to 1928.

1923 Specimen Sovereign struck at the Sydney Mint, featuring the standard portrait of King George V and the St George & Dragon reverse

Price $95,000

Believed unique • superb FDC

Robert Jaggard Collection 1989 • Sale by private treaty to Paul Terry Collection • Sale by private treaty to Quartermaster Collection, 1992 • Monetarium Sydney Auction June 2009, lot 205, in the liquidation of the Quartermaster Collection.

Coins of Record out of the era, 1911 to 1928, are rarely offered. Proof strikes and specimen strikes were only struck at the Sydney Mint in 1920, 1922, 1923 and 1926. The Melbourne Mint only 1911. And the Perth Mint did not strike Coins of Record at all.

Making it is one of the most difficult markets to buy into. The total market is eight coins, with dates ranging from 1911 to 1928.