The extremely rare 1852 Adelaide One Pound struck in the first production run (Type I Adelaide Pound).

Uncirculated 1852 Adelaide Pound Type I, one of three known at this supreme quality level.  We comment on the strength in the edges and denticles and lettering. And the fabulous fields.

Uncirculated 1852 Adelaide Pound Type I, one of three known at this supreme quality level. Exceptional strength in the edges, legend and the crown. And lustrous fields.

In our experience, there are only three known examples in the upper quality levels.

• The Madrid Collection 1852 Adelaide Pound Type I is an Uncirculated and lustrous example from the Madrid Collection of Australian Rare Coins with strong definition in the edges and the crown (available here).

• The Nobleman 1852 Adelaide Pound Type I exists in a superb mint state.

• The Mortimer Hammel 1852 Adelaide Pound Type I is a lustrous Brilliant Uncirculated example.

Australia’s first gold coin, a One Pound, was struck on 23 September 1852 at the Government Assay Office in Adelaide, South Australia. The first production run of Adelaide Pounds, used an obverse die with a crown and a reverse die with a simple, elegant beaded inner circle. (Shown above)

During the first run, pressure was applied to the edges to ensure that the denticles and the legend were strong. About fifty coins were produced before a crack developed in the die, forcing an interruption to production and the hasty preparation of a replacement die.

Feeling the strain to resume production, Joshua Payne opted for a simpler version of the reverse die, the legend and value in plain lettering. He also changed the design of the inner border, duplicating that already in place on the crown side.

Production was resumed with the second die and a further 24,000-plus coins minted, referred to as the Type II One Pounds.

By using two different dies, Joshua Payne clearly distinguished between those coins struck in the modest first run. And those from the more substantial second run.

And in so doing created a rarity of the highest order. The Gold One Pound struck during the very first production run of the nation's first gold coin, better known as the Type I Adelaide One Pound.

What we know today is that less than forty Type I Adelaide One Pounds are in collector’s hands.

And perhaps six times that figure of the Type II examples. Both rare. But the Type I One Pound excruciatingly rare. And this example, one of the finest of them all.

The enormity of this offer cannot be overstated.

This coin was never given kid gloves treatment during the production process. It was struck in what can only be described as a factory, hammered out and hurled down an assembly line, more than likely into a barrel or bucket.

How this coin survived the production process, and more than one hundred and seventy years later still be in a pristine original state is impossible to fathom.

This is a unique opportunity to acquire an inspiring example of Australia's very first gold coin, offered at a spectacular quality level.