When sizing up a coin and evaluating its potential for growth, a buyer should consider two aspects.
The ideal investment scenario occurs when the coin is rare. And the sector is occupied by very few coins.
As detailed above, this Proof 1893 Sovereign is rare. And the Veiled Head sector (to which it belongs) is very light on in numbers.
The Veiled Head era of Queen Victoria embraces nine years, 1893 to 1901 inclusive.
Three Australian mints were operating during this period, Sydney, Melbourne and Perth, the latter opening its doors in 1899.
The Sydney Mint was a very poor contributor to our proof gold coining history, striking proofs in only the first year of the Veiled head era, 1893. No other proofs were struck at the Sydney Mint between 1894 and 1901.
As the Perth Mint only came on board in 1899, which was the latter part of the Veiled Head era, their contribution to this sector of the market was always going to be slim. The Perth Mint struck proof sovereigns in the year of its opening and again in 1901, the year in which Queen Victoria died.
We have done our research checking auction records and our own private treaty sales and have knowledge of only twelve Veiled Head Melbourne Mint Proof Sovereigns.
Twelve is a minuscule number given that we are not talking twelve of each year but twelve coins that cover the entire spectrum of dates during Queen Victoria’s nine-year reign of 1893 to 1901.
It is also noted that many of these Veiled Head gold proofs were last sighted decades ago, in the 1980s and 1990s.