1852 Australia Adelaide Pound Type II Gold Coin

Product Description:

NGC MS 62
(8378376-006)

Sharp Strike, Australia's First gold coin, Very Rare

The Adelaide Pound holds a unique place in Australian history as the first coin produced entirely from locally mined Australian gold. During the gold rush of the 1850s, the colony of South Australia faced an abundance of mined gold but a severe shortage of tradable currency. To address this issue, the colony passed the Bullion Act in 1852, exploiting a loophole in colonial British law to authorize the striking of its own coinage.

The coins were minted at the South Australian Government Assay Office in Adelaide, which became the first official mint in Australia. Over 24,000 Adelaide Pounds were struck, with two distinct types produced. The initial batch, known as the Type I, featured a flawed design with a significant die crack on the reverse. Around 50–100 of these defective coins were minted, making them exceptionally rare and highly collectible.

The more common Type II featured an improved design with a crenellated inner circle on the reverse and accounted for the majority of the mintage. However, these coins contained nearly two shillings of gold value above their one-pound face value. This led to widespread melting by profiteers and official intervention from Britain, significantly reducing their circulation. Many Adelaide Pounds were shipped to London and melted down, further diminishing their numbers.

Today, Adelaide Pounds are among the rarest and most sought-after Australian coins. The exact number remaining in existence is unknown, fueling their mystique and desirability among collectors. Rarely offered for sale, these coins stand as enduring symbols of Australia’s early economic ingenuity and its rich gold rush heritage.