The Adelaide Sovereign—Australia's First Gold Coin

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In the 1850s, as South Australian treasure hunters struck it rich in the Victorian gold fields, gold dust and small nuggets were sent back home to Adelaide, where the metal was used as currency by those who stayed behind. Unfortunately, raw gold was an awkward means of purchasing “the commodities of life,” prompting a local business group to lobby the governor to establish a mint. Legislation was passed in record time, despite the legality of a provincial government establishing a mint, and by February 1852 the first assayed gold was struck. This gold came in the form of ingots or small bars, with the weight and purity hand-stamped on the bars to assist valuation and trade. However, as the ingots were of irregular weight, trading the bars in day-to-day commerce was inconvenient. As a result, the government authorised the minting of coinage in standard denominations of £5, £2, £1, and 10 shillings (£1/2). Dies of the £1 piece were promptly cut, and thus the first pieces of what was called the “Adelaide Sovereign” were minted.

Full article: https://www.pcgs.com/news/adelaide-sovereign-australias-first-gold-coin

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Exbrit

This is a very desirable coin - good story too.

ajaan

Like the design.