1923 Pretoria currency-issue Sovereign PCGS AU55

The 1923 Pretoria sovereign is a rare instance when the circulation version of the coin is rarer than the proof. Unlike the proof version, which was minted in the many hundreds, the circulation version of the sovereign of 1923 was coined from a single consignment of old jewellery. (In those days, the public could trade raw gold for gold coin.) Presumably, the coins were subsequently circulated or otherwise put to use. The world went off the gold standard a decade or so later, and the existence of a circulation version 1923 sovereign was lost in time. It wasn’t until the late 1970s that the issue was rediscovered by numismatists when a clearly non-proof 1923 Pretoria sovereign was brought into Spink London for examination. After a thorough investigation that involved letters to the South African Mint and the International Anti-Forgery Bureau, and visits to several London coin dealers, numismatists concluded that this non-proof 1923-SA sovereign was indeed a currency issue version of what was hitherto a proof-only date. Today, the currency-issue 1923-SA sovereign is a great rarity, and although the exact number of coins in existence is not known, only a few examples have appeared in auction since its discovery in the 1970s. In fact, in the last ten years, I’ve only seen four or five instances of this issue come to market. The example on offer here has had a few good years in circulation, but still retains enough eye appeal and detail to be very collectable. Graded PCGS AU55, if you’re looking for an example of this underrated rarity but don’t want to pay over $50,000 for a mint state example, this is your coin. Professional Coin Grading Service is the global leader in coin authentication and grading. With over 60 million coins graded and counting, PCGS is trusted by collectors, dealers, and investors to certify authenticity, protect value, and elevate market confidence. This is a direct conversion of the 70-point PCGS grade to a 10-point scale, intended to present the grade in a more intuitive format for newer collectors. It is not our personal opinion or an attempt at regrading the coin to a different standard. To understand how the 70-point scale converts to a 10-point scale, [click here](https://drakesterling.com/en/page/the-ten-point-coin-grading-scale). The 1923 Pretoria sovereign is a rare instance when the circulation version of the coin is rarer than the proof. Unlike the proof version, which was minted in the many hundreds, the circulation version of the sovereign of 1923 was coined from a single consignment of old jewellery. (In those days, the public could trade raw gold for gold coin.) Presumably, the coins were subsequently circulated or otherwise put to use. The world went off the gold standard a decade or so later, and the existence of a circulation version 1923 sovereign was lost in time. It wasn’t until the late 1970s that the issue was rediscovered by numismatists when a clearly non-proof 1923 Pretoria sovereign was brought into Spink London for examination. After a thorough investigation that involved letters to the South African Mint and the International Anti-Forgery Bureau, and visits to several London coin dealers, numismatists concluded that this non-proof 1923-SA sovereign was indeed a currency issue version of what was hitherto a proof-only date. Today, the currency-issue 1923-SA sovereign is a great rarity, and although the exact number of coins in existence is not known, only a few examples have appeared in auction since its discovery in the 1970s. In fact, in the last ten years, I’ve only seen four or five instances of this issue come to market. The example on offer here has had a few good years in circulation, but still retains enough eye appeal and detail to be very collectable. Graded PCGS AU55, if you’re looking for an example of this underrated rarity but don’t want to pay over $50,000 for a mint state example, this is your coin.