1931 Perth Mint Proof Sovereign
This 1931 Proof Sovereign was struck as a Coin of Record at the Perth Mint, a proof striking of the Mint’s (and Australia's) very last sovereign. It is a numismatic giant. Collectors at the Bentley Collection sale conducted by Baldwins in London 2012 certainly thought so too, the coin selling for £52,800, 32 per cent higher than its pre-sale upper estimate of £40,000. By comparison, a 1929 Melbourne Mint Proof Sovereign, a proof coin out of the same era, was offered with an upper pre-sale estimate of £40,000 and sold for £40,800. There are two fundamental reasons why the Coins of Record of the Perth Mint command more dollars than those of the Melbourne Mint. The Perth Mint Coins of Record have a higher profile, because the mint is still operating. And they are far rarer.
A Coin of Record is an artistic interpretation of coinage, a strikingly beautiful coin beyond ordinary currency, individually crafted to standards far exceeding that required of a circulating coin.
Using technical terms, Coins of Record were struck using special minting techniques to either a proof or specimen finish involving highly polished blanks to create mirror fields and carefully prepared dies to ensure a wealth of design definition.
A Coin of Record is a showpiece. The crown jewels of coinage, adding glamour and exceptionality to any collection.
Whereas production of circulating coinage was dictated by Government, Coins of Record were struck at the discretion of the mint master. Placed in the mint’s archives for posterity. Perhaps, an example forwarded to the monarch. Coins of Record were occasionally produced for the Royal Mint London, a selected museum or to display at an international exhibition. Or gifted to a dignitary. All circumstances that necessitated the very best in minting standards.
The coins were not produced every year and, as they were individually crafted, the process was time consuming and the mintages tiny, therefore. For gold proofs, generally less than four pieces.
In its entire sovereign and half sovereign history (1899 to 1931), the Perth Mint struck Coins of Record in only three years, 1899, 1901 and 1931.
As a sector of the Australian rare coin market, the Perth Mint Gold Coins of Record is the most exclusive for collectors to buy into.
The whereabouts of the privately owned 1899 Specimen Sovereign is unknown, the 1899 Specimen Half Sovereign is unique. The 1901 Proof Sovereign is one of two known, the 1901 Proof Half Sovereign unique. (A sovereign and the only known half sovereign sold recently as a pair.) The 1931 Proof Sovereign is one of two known.
Simple arithmetic confirms that the buying pool for collectors of the Perth Mint Coins of Record is seven coins. When an example comes to market, Zurich, London, Sydney, the news spreads fast and the collector market reacts, the world over.
1931 Proof Sovereign
Perth Mint Coin of Record
1931 Proof Sovereign
Perth Mint Coin of Record
Australia’s Coins of Record are admired and respected worldwide. As with fine art and fine jewellery, they have prestige value.
Three branches of the Royal Mint London operated in Australia. The Sydney Mint opening in 1855, the Melbourne Mint in 1872 and the Perth Mint in 1899, each mint sporadically producing Coins of Record of its sovereigns and half sovereigns.
There are two fundamental differences between the Coins of Record of the Perth Mint and those of Melbourne and Sydney. The Perth Mint Coins of Record have a higher profile, because the mint is still operating. And they are far rarer.
The Sydney Mint closed in 1926, the Melbourne Mint in 1964, their greatest historical pieces are, in many respects, confined to history.
For the Perth Mint, its story is on-going. Its collecting audience is expanding.
The Perth Mint’s commercial profile creates an environment whereby its earlier gold sovereign and half sovereign issues can be enabled and brought to life.
As the name 'Macquarie' lives on through the Macquarie Bank, so too history lives on for the Perth Mint through its current coining operations.
Every time the Perth Mint opens its doors to welcome visitors, releases a new proof coin or celebrates an anniversary of its minting operations (as it did on 2024), we are reminded of a heritage that began in 1899. And we are further reminded of a tradition of continual coining excellence that began with its Coins of Record.
1931 Perth Mint Proof Sovereign, a proof striking of the last sovereign struck at the Perth Mint.
Price: $195,000
John Agnew Collection circa 1931 • Agnew Family Collection sold to Spink & Son privately circa 1994 • Bentley Collection sold by Baldwins 27 September 2012 (lot 878)
That a coin of such power and influence in the Australian gold coin market was originally owned by John Agnew somehow seems just right for he too was powerful and influential.
A man of vision and remarkable knowledge of gold mining, Agnew was credited with making a major contribution to revitalise the Western Australian gold mining sector in the 1920s and 1930s and was Director of Consolidated Goldfields when he was gifted this coin.
A superb mint state and of the highest rarity, ex Bentley Collection 2012 (lot 878), this coin is unique for quality, the finest of two available to collectors, the other example impaired through mishandling.
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