Proof 1889 Sovereign, Melbourne Mint


1889-Proof-Sovereign-Reverse-August-2019
1889-Proof-Sovereign-Obverse-August-2019
Proof 1889 Sovereign, Melbourne Mint
COIN
Proof 1889 Sovereign, Melbourne Mint
QUALITY
FDC
PROVENANCE
Spink Auctions Sydney, March 1988
PRICE
$125,000
COMMENTS
Gold has been a symbol of status and wealth throughout the ages and is presented here in one of its most prestigious forms. An Australian, limited mintage, gold proof sovereign struck at the Melbourne Mint depicting the Jubilee portrait of Queen Victoria. The coin is as luxurious as it is rare. This Proof 1889 Sovereign is the only known example recorded over the last half century. And for the record, it is the third only Proof Jubilee Sovereign that we have ever sold.
STATUS
Available now
1889-Proof-Sovereign-Obverse-August-2019
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The Jubilee portrait of Queen Victoria (1887 - 1893).

The Young Head portrait of Queen Victoria, was introduced on Australia’s sovereigns in 1871 and remained until 1887.

Queen Victoria celebrated the fiftieth anniversary of her accession to the throne on 20 June 1887.

To commemorate Queen Victoria's Golden Jubilee, the Young Head design was replaced with a Jubilee portrait designed by Austrian medallist Joseph Edgar Boehm.

The Jubilee portrait continued uninterrupted from 1887 up to (and including) 1893 when Australia introduced Queen Victoria’s Veiled Head portrait.

During this time, both the Sydney Mint and Melbourne Mint were operating. The Perth Mint was not opened until 1899.

Now let's discuss the growth potential of the 1889 Proof Sovereign.

When sizing up a coin and evaluating its potential for growth, a buyer needs to consider two aspects.

  1. First up is the rarity of the coin itself. How many examples of this coin are known?
  2. And the second aspect, the rarity of the sector of the market to which it belongs. How many examples in the same sector of the market are known.

The adage, ‘less is best’ holds true in the rare coin industry for you don't want the market to be flooded with examples from the same sector.

The ideal ‘investment’ scenario occurs when the coin is rare. And the sector to which it belongs is occupied by very few other coins.

So how does this Proof 1889 Sovereign stack up?

As detailed above, this Proof 1889 Sovereign is the only known recorded example.

And it is noted that Proof Sovereigns out of Queen Victoria’s Jubilee era (1887 to 1893) are amazingly limited in numbers as the text below reveals.

We reflect on the fact that this is the third only Proof Jubilee Sovereign that we have sold in a career that spans nearly half a century.

 

Sydney Mint Jubilee Proofs.

•    The Sydney Mint struck proofs in the very first year of the design, 1887. Two examples have been sighted.

•    The Sydney Mint did NOT strike any proofs in the years 1888, 1889, 1890, 1891 and 1892.

•    The Sydney Mint struck proofs in the last year of the design, 1893. Only one example has been sighted.

Melbourne Mint Jubilee Proofs.

•    The Melbourne Mint struck proofs in the first year of the design, 1887. No examples have ever been sighted.

•    The Melbourne Mint struck proofs in 1888. Two examples have been sighted, one of which was sold by Coinworks in 2019, the other example last appeared at auction in 1994.

•    The Melbourne Mint struck proofs in 1889. One example has been sighted, this coin.

•    The Melbourne Mint is said to have struck proofs in 1890. They have never been sighted.

•    The Melbourne Mint did NOT strike any proofs in the years 1891 and 1892.

•    The Melbourne Mint struck Jubilee proofs in 1893, only one of which has ever been sighted.

This 1889 Proof Sovereign presents an ideal investment scenario.

The coin itself is rare, the only recorded example of that date. And the sector to which it belongs - Jubilee Proof Sovereign - is occupied by very few other coins.

Aside from their extreme scarcity, proof gold coins are a delight to the eye, appealing to those collectors who seek out and enjoy coining perfection.

 

 

Enquire now

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