Owner Comments:
S-3999, Marsh 246 (R2, Very Rare)
Acquired from: The Coin Cabinet, London
Means: Auction 80, Lot 163
Date: 25 April 2023
Critique: Beautiful example of a very rare date George V sovereign. As of April 2023 only one graded higher. Although around 400,000 coins were minted, a very large percentage of them were apparently destroyed when the Bank of England melted millions of gold sovereigns in 1930-1931. This would presume that the vast majority of them had been stored at the Royal Bank of Australia rather than being distributed for general circulation.
A quick check of the NGC census shows that only 20 of these coins have been certified as of the end of 2023, so it's a rather difficult item to locate. However, fully 90% of these graded coins are MS60 or higher, so if you do find one it's almost certainly going to be in Mint State!
Several other very rare George V sovs were offered in this sale, all from the same anonymous consignor. Auction company told me he is slowly breaking up a very valuable collection, with more to be offered in the future.
Bidding started off slowly at first, but picked up quickly. In the end, I had to pay just a bit more than I estimated, 10% above catalogue value, since it is a scarce issue, very high-grade, nearly Top Pop, and has wonderful eye appeal.