Unique in the Perth Mint's coining heritage, a pairing of Proof Sovereign and Proof Half Sovereign, issued in 1901.

This is a generational wealth opportunity. A unique proof coin pairing, issued by the Perth Mint. 

Throughout its one hundred-and twenty-six-year minting history, from when it opened in 1899 until this very day, the Perth Mint has only once produced a pairing of proof sovereign and proof half sovereign. 

The year was '1901'.

And only one pair, out of the original mintage, survives today. This 1901 Proof Sovereign and 1901 Proof Half Sovereign, held by a private collector. 

Records indicate that while the British Museum holds a 1901 Proof Half Sovereign, it does not hold the sovereign. And there are no pairs held in any institutions worldwide, including the Perth Mint.

Perth's newly opened branch of the Royal Mint London captured the attention of the international coin community as early as March 1903, when British collector John G. Murdoch sold his collection of Australian proof sovereigns and proof half sovereigns through Sotheby, Wilkinson & Hodge, London.

The Australian section of Murdoch's collection was comprised predominantly of coins struck at the Melbourne Mint and a small number of Sydney Mint specimens. Murdoch's collection also held a smattering of Perth Mint Coins of Record, two 1899 Sovereigns and two pairs of 1901 Sovereign and Half Sovereign.

History records that lot 650 contained two 1901 Proof Half Sovereigns and was acquired by legendary British collector, Reginald Huth, an acknowledgment that just two years after its striking, the half sovereign was already an acclaimed 'great' coin rarity. 

When a high profile collector targets a coin, the market takes note. As it did in 1903 and as it does today.

Given Huth's contacts in numismatic circles, he would have been aware that the Australian mints did not strike any half sovereigns in 1901, due to the death of Queen Victoria early in that year. And the proof striking would be the only record of the 1901 half sovereign dies.

The coin was subsequently sold to another leading British coin collector, S A H Whetmore. 

As with most of Australia's top coin rarities, the coin eventually came back to Australia's shores and was sold at Spink Auctions, Australia 1985 (lot 1048), the result an amazing $21,700 on a pre-sale estimate of $15,000.

And the other of Murdoch's 1901 Proof Half Sovereigns? Records indicate that it is housed in the British Museum by way of the Clarke-Thornhill bequest of 1935.

Two 1901 Proof Sovereigns were held in the Murdoch Collection and sold in London in 1903 by Sotheby, Wilkinson & Hodge (lots 648 and 650).

A 1901 Proof Sovereign sold at Spink Auctions Australia in 1985 (lot 1047). 

The other known example was offered at Sincona Auction, Zurich November 2021 (lot 892).

The euphoria associated with the Perth proofs continued when the second known example of the Perth Mint’s 1901 Proof Sovereign sold for approximately $200,000 AUD in November 2021. (The most fascinating aspect of this result is that a Melbourne Mint Proof 1898 Sovereign sold in the same auction for $110,000.

A world-wide reaction to Perth Mint Coins of Record 

In November 2021, two rare Australian proof sovereigns sold in Zurich, the sale conducted by Sincona Auction. An 1898 Proof Sovereign and the second coin, a 1901 Proof Sovereign.

Both pieces were 'Coins of Record', the first issued by the Melbourne Mint depicting the Veiled Head portrait of Queen Victoria, the second struck at the Perth Mint also featuring the Veiled Head design.

The historical background of these coins is as follows:

Two examples of the 1898 Melbourne Mint Proof Sovereign were held in the collection of renowned British collector John G. Murdoch and were sold in 1903, in London, the auction handled by Sotheby, Wilkinson & Hodge. An example, assumed one of Murdoch's coins, was sold by Spink Auctions, Australia, in 1990. None have appeared since.

Two examples of the 1901 Perth Mint Proof Sovereign were also held in the John G. Murdoch collection and sold in the same London auction. An example, again assumed one of Murdoch's coins, was sold by Spink Auctions, Australia, in 1985. None have appeared since.

On the surface, no great differences here. Similar profile. Both extremely rare, high quality, Australian gold proof coins.

Prices realised tell a different story!

The Melbourne Mint 1898 Proof Sovereign sold for 62,000 Swiss franc. On today's exchange rates approximately $110,000 Australian dollars.

The Perth Mint 1901 Proof Sovereign fetched almost twice that, 95,000 Swiss franc. A converted Australian dollar price of $200,000.

With similar credentials, the obvious question is why the market valued the Perth proof sovereign so highly?

The answer lies in the extreme scarcity of the Perth Mint Coins of Record, the scant number of years in which they were struck. The Perth Mint opened its doors on 20 June 1899 to support Western Australia's gold industry and struck circulating sovereigns every year until 1931 when the Perth Mint, and the rest of the Australia mints, ceased striking gold sovereigns.  

Over thirty-three years of gold coining production, the Perth Mint struck Coins of Record in only three years, 1899 (its opening year), 1901 and 1931 (final year of sovereign production).

We have looked at the numbers that are available to collectors in each of these years, 1899, 1901 and 1931 and have come up with a total buying pool of seven coins, the availability noted below after the bullet point.

1899 Specimen Sovereign  • 1

1899 Specimen Half Sovereign • 1

1901 Proof Sovereign • 2

1901 Proof Half Sovereign • 1

1931 Proof Sovereign • 2 (one impaired through mishandling)

The gold Coins of Record of the Perth Mint have influence, power, and a world-wide reputation as the least available sector of the entire Australian rare coin market. Each coin is historic. Many are unique. And for collectors, with the exception of the 1901 Proof Sovereign, they are irreplaceable.

On the very few occasions that a Perth Mint gold proof or specimen strike has become available, London 1903, Sydney 1985, Sydney 1989 and Zurich 2021, history shows us that the market the world-over takes a keen interest.

1901 Proof Sovereign 

One of two known, the other known example selling at Sincona Auction, Zurich, November 2021.

Price $250,000

Two 1901 Proof Sovereigns were held in the Murdoch Collection and sold in London in 1903 by Sotheby, Wilkinson & Hodge (lots 648 and 650).

A 1901 Proof Sovereign sold at Spink Auctions Australia in 1985 (lot 1047) and is currently held by a Melbourne collector. The other known example was offered at Sincona Auction, Zurich November 2021 (lot 892).

Both coins are assumed to have come from the Murdoch Collection, sold in 1903 in London, Sotheby Wilkinson & Hodge.**

This 1901 Proof Sovereign is a brilliant and frosted FDC. Ex Murdoch Collection** (lot xx) • Spink Auctions (Australia) November 1985, lot 1047 • Barrie Winsor sale by private treaty to Downies Collectables, February 2000.

1901 Proof Half Sovereign

The only known example held by a private collector

Price $300,000

A great rarity, the Perth Mint's 1901 Proof Half Sovereign is the only representative example of a half sovereign struck in the final year of Queen Victoria’s reign. No circulating half sovereigns were issued at any of the Australian mints in 1901 due to the death of Queen Victoria in January of the same year.

Two 1901 Proof Half Sovereigns were held in the Murdoch Collection, sold by Sotheby, Wilkinson & Hodge in London, 1903. Acquired by Reginald Huth and later A H Whetmore, the coin eventually sold at Spink Auctions, Australia 1985 (lot 1048) and is currently held by a Melbourne collector.

This 1901 Proof Half Sovereign is a brilliant and frosted FDC. Ex John G Murdoch, Reginald Huth, S. A. H Whetmore, Spink Auctions (Australia) November 1985, lot 1048 • Barrie Winsor sale by private treaty to Downies Collectables, February 2000.

The other 1901 Proof Half Sovereign offered in 1903 by auctioneers Sotheby Wilkinson & Hodge is housed in the British Museum by way of the Clarke-Thornhill bequest of 1935.