Owner Comments:
Owner Comments:
S-3855, Marsh 75
Acquired from: The Coin Cabinet, London
Means: Auction 102, Lot 169
Date: 13 February 2024
Critique: Nice-looking example of this mid-reign Victoria shieldback gold sovereign, much less scratchy than usual for MS62, and still showing good luster on both sides. For any collector wanting an example of a shieldback sov dated 1879 this is the only choice, since neither London nor Melbourne produced any. Although this is not a very high grade at all, apparently the coins did not survive very well since as of April 2024 only a few examples are graded higher than MS62. So this coin is a bit of a challenge for collectors of Australian sov varieties. A bit of research showed that examples of this coin in mint state have only been offered in US auctions three times in the past four years.
A review of the top 100 sets registered in the Aussie Victoria category shows that only five other sets contain one of these coins, with only two of them in mint state. Three of them are in AU58, which could have been a deliberate decision on the part of those collectors to acquire a very nice-looking coin at a cheaper price. By eye, most AU58 coins cannot be distinguished from mint state ones, and they usually have much better eye appeal than coins graded MS60 to MS62.
Since this coin is nearly Top Pop, fairly nice-looking, and rather uncommon in mint state, I assumed that it would sell for a premium at auction. Sadly, my assumption was correct. I ended up paying 15% over catalog value, which corresponded exactly to my pre-determined bid limit. Fortunately the other bidder gave up just as I would have been forced out. That was a close one!