A large expectant crowd witnessed a number of records broken following the sale of a rare gold sovereign for £780,000 at an auction held by Baldwin’s of London on 27th September.
The coin is a George V Gold Sovereign, minted in Sydney, Australia in 1920 and is so rare that only four are known to exist, with one of these currently housed in a museum. The successful bidder of the auction was renowned numismatic dealer Bob Jaggard, who will be repatriating the coin to his native Australia.
The auction house believe this £780,000 sale makes it a new world record for an Australian coin, British Imperial gold sovereign, a legal tender British coin, a British Colonial coin and a British auction record for a 20th century coin.
Baldwin’s British coin specialist, Steve Hill, commented after the auction “We are absolutely overjoyed with today’s result, we hoped it would be a great day but it far exceeded all of our expectations. It was most pleasing to see the 1920 S breaking records again.”
Indeed, this exact coin sold in Australia for around £370,000 in 2006 and so has more than doubled its value in just six years. This numismatic premium is even more incredible when you consider the coin sold for just $4,250 Australian Dollars in 1979. As a shrewd collector, Mr Jaggard will no doubt be looking forward to this premium increasing even further whilst in his ownership.