1852 Adelaide Pound, second die with crenelated inner circle

The collector that is keen to acquire an example of the nation's very first gold coin, the 1852 Adelaide Pound, has two options.

The first is the ‘Cracked Die’ Adelaide Pound featuring the tell-tale crack in the 'DWT' section of the legend.

As less than 40 coins are known, the Cracked Die comes with a hefty price tag. In excess of $100,000 for most examples.

The very reason why the majority of collectors opt for the second option of acquiring an Adelaide Pound struck with the second reverse die featuring the crenelated inner circle.

Still a very rare coin with perhaps 250 examples known but presented in a far more affordable price range, upwards of $20,000 for a nice example.

Irrespective of the type of Adelaide Pound, we strongly advise buyers to follow our prime rule for selection. Pick a coin that is visually very attractive. Don't accept the gouges and knocks that mar the aesthetics.

How an Adelaide Pound looks to the naked eye is an important part of the selection process. This simple point will really count when, further down the track, it comes time for you to liquidate your coin and realise on your investment.

It must be remembered that the Adelaide Assay Office was opened 166 years ago as a refinery to strike gold ingots. Except for ensuring the accuracy of the weight and purity of gold in the coin, there was minimal care regarding the overall striking and the eye appeal of the coin. The coins were to be used as currency, traded in commerce. Not preserved as collectables.

Gold also is a relatively soft metal and the rigours of circulation have treated many Adelaide Pounds harshly.

This Adelaide Pound passes our prime rule for selection and is as per the photographs shown above and at right.

• This 1852 Adelaide Pound was struck with the second die and is graded About Extremely Fine which indicates that it has undergone some circulation with slight wear to the high points.
• The coin has strength in the edges. And the legend 'Government Assay office' is strong.
• History records that the striking of the Adelaide Pound was fraught with problems.
• Pressure cracked the first die. Relaxing the pressure on the second die, while it increased the design detail in the crown, interfered with the execution of the edges and the legend 'Assay Office'. Many examples struck with the second die show weakness in the edges, with some areas of the legend almost non-existent.
• The final scrutiny involves the fields. The rigours of circulation have treated this coin very kindly.

This Adelaide Pound struck with the second crenelated die is presented in a handsome black presentation case, with accompanying photographs and Certificate of Authenticity.