1852 Adelaide Pound, the reverse die featuring a scalloped inner border (Type II) - NOW SOLD
This is a gem of a coin, a Choice Uncirculated 1852 Adelaide Pound. And we are not the only one to think so. The coin made its first appearance on the market at auction in 1997. Also described by Nobles Auction as 'a gem' and the quality ranking of Choice Uncirculated, the coin fetched an impressive $15,950 on an estimate of $9000. A second auction appearance in November 2001 produced similar results, $30,000 on a pre-sale estimate of $16,000. Two aspects characterise this coin. It is lustrous with much original brilliance. And the design has been brilliantly executed, noticeable in the edge denticles, the legend and the fine detail in the crown.
The 1852 Adelaide Pound is the nation's first coin, minted at the Government Assay Office Adelaide. And this coin, struck using the second reverse die after the first die cracked, is referred to as a Type II Adelaide Pound.
The high-quality ranking of Choice Uncirculated is an acknowledgement of the coin's strike and the glorious state of the fields. It is a brilliant example of the nation's first gold coin and is extremely rare at this quality level. And an exception to those most frequently sighted.
Both obverse and reverse fields are lustrous, highly reflective. The design has been well executed and presents elements that are seldom seen.
Beautiful edge denticles, all the way around and a strong legend, 'Government Assay Office', also all the way around. And the crown is sharply defined, the cross on the orb at the top of the crown complete.
The pleats in the cloth, on which the two fleur-de-lis rest, are well defined as are the jewels in the band of the crown.
Choice Uncirculated
1852 Type II Adelaide Pound
Choice Uncirculated
1852 Type II Adelaide Pound
History records that disaster struck during the early stages of the minting of the 1852 Adelaide Pound.
Die-maker and engraver Joshua Payne later confirmed that staff had struggled to find the correct pressure levels to exert on the dies to execute a strong overall design.
In the early stages of production, pressure was applied to the edges to ensure that the denticles and legend were strong. The downside to this decision is that excessive pressure applied to the edges cracked the reverse die, forcing an interruption to minting.
The upside to this decision is that Adelaide Pounds struck during the first production run have almost picture-perfect edges and beautiful strong denticles.
Relaxing the pressure on the dies in the second production run, lengthened the die usage but created its own shortcomings. Once the pressure was reduced on the edges, the perfection that was achieved in the denticles and legend in the first run of coins was simply not achievable in the second run.
Adelaide Pounds from the second production run notoriously have weakness in the edges and weakness in the legend, most particularly in the Assay Office area. And this is noted in about nine out of every ten examples. But, the crown design will invariably be well executed with flattened areas mainly due to circulation. (Flattened areas may also reflect die usage and be due to a poor strike.)
This Type II 1852 Adelaide Pound has a beautiful balance of strong edge denticles, strong legend and a brilliantly struck crown. It is the exception to those most frequently sighted.
1852 Adelaide Pound Type II, Choice Uncirculated, exceptional design definition, fully lustrous.
Price: $75,000
Beautiful edge denticles, all the way around and a strong legend, 'Government Assay Office', also all the way around.
And the crown is sharply defined, the cross on the orb at the top of the crown complete. The pleats in the cloth, on which the two fleur-de-lis rest, are well defined as are the jewels in the band of the crown.
A minor contact mark through the 'O' of ONE on the reverse is noted for completeness.
The first gold coin for the nation was struck at the Adelaide Assay Office on 23 November 1852. We know it today as the 1852 Adelaide Pound. It is our most popular gold coin, and sought after at all quality levels.
Collectors have a choice when it comes to acquiring an 1852 Adelaide Pound. An example from the first production run. Or the second run. The nation’s first gold coin was produced over two production runs.
The same obverse design was used throughout, featuring the legend 'Government Assay Office Adelaide', a crown and the date '1852'. But each production run used different reverse dies, the first using a die with stylish lettering and an elegant beaded inner circle. (Coins struck from the first die are known as Type I Adelaide Pounds.) The second die had plain lettering and a crenellated inner circle. (Coins struck from the second die are known as Type II Adelaide Pounds.)
Irrespective of the production run, the Adelaide Pound is a scarce coin. Forty examples survive today of the Type I, with perhaps two hundred and fifty of the Type II. So which coin to choose. The answer is an easy one and for most collectors it is the Type II.
Because of their extreme rarity, Adelaide Pounds minted in the first production run, require a substantial financial outlay. In excess of $100,000 for quality examples with the top Type Is commanding $400,000-plus.
Purely from a financial perspective, most collectors opt for coins from the second production run in the knowledge that for $75,000 you can acquire one of the very best Type II Adelaide Pounds.
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