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|1852 Adelaide Gold Plated Pound Replica Coin|
Obverse of 1852 Adelaide Gold Plated Pound Replica Coin
1852 Adelaide Gold Plated Pound Replica Coin in Presentation Box
1852 Adelaide Gold Plated Pound
A replica of the original 1852 Adelaide one pound.
According to the Museum Victoria:
This was not really a coin, but a coin-shaped ingot guaranteed to be worth a pound. The Colony of South Australia backed their valuation by giving exact details of the purity (22 carats) and weight (5 pennyweight and 15 grains) of the piece. It was made from gold brought to South Australia from the Victorian goldfields in 1852. Although production was technically illegal, these pieces were made by the South Australian government to solve a major problem in the local economy caused by people leaving for the gold fields and taking most of the colony's money with them. By the time the written request for authority to make the pieces had arrived in England and the refusal returned to Adelaide, the Assay Office had opened, solved the problem by issuing the tokens and closed.
It is difficult to exactly categorise the Adelaide Pound. It could be called a token, but it was issued in the name of the Government Assay Office. It bears a denomination of "One Pound", and has a gross weight and actual gold content slightly higher than a British gold sovereign.
Too Good to Last
"Gresham's Law" states that bad money drives out good. Sometimes good money drives itself out.
Because the value of the gold content exceeded its face value, and because the coins could be bought in Victoria for 19s1112d, and were worth £1.1s.1012d in London, most of the 24,768 recorded as having been minted were exported to London and melted down. Accordingly, only a few hundred pieces are believed to be still in existence.
Large crown with the date 1852 below, within a inner circle, with the inscription around the outer circle:-
GOVERNMENT ASSAY OFFICE
In three lines, the words
within a inner circle, with the inscription around the outer circle:-
WEIGHT. 5 DWT: 15 GRS:
above and below the design.
|One Pound||Gold Plated Silver Proof||88||187.40|
|Description||Issue Limit||Availability||Price £||Price $US|
|1852 Adelaide Gold Plated Pound||Yes||£Ask||$Ask|
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