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2002 Adelaide Pound $10 Proof

A celebration of the 150th Anniversary of Australia's first Gold Coin

The 150th anniversary of our first locally produced gold coin enables collectors today to own a commemorative coin, with the design taken directly from an original Adelaide Pound.
Due to the great shortage of coins in the colony of South Australia in the mid 1800's, the local colonial government authorised the Adelaide Pound coins to be stuck.
The original dies were produced by Adelaide jeweller, Joshua Payne. The first die cracked after approximately only 50 coins had been produced. These coins are known as the ‘Type I’ Adelaide Pound. The effect of the cracked die is visible on the upper left section of the coin. It is thought that less than 30 exist today.
The government did not have time to seek Royal Assent prior to the issue of the coinage due to the dire shortage, so it was struck on the authority of the Governor. While Royal Assent was requested, letters sent by ship took months to arrive at their destinations. Approval was eventually received from London, but by that time supplies of Sovereigns had arrived. Instructions were given that the Adelaide Pounds be re-called and melted down and as the Pound had a gold content higher than its face value, this was in fact already occurring. So very few coins remain to this day and are much sought after by collectors.


Mintage
10,000

The standard image of Her Majesty appears on the obverse of the coin, but in a departure for the Mint, in a smaller format and in the upper section of the fine silver outer ring.
Modern technology has enabled the Mint to scan a genuine Adelaide Pound coin as well as a restrike (both of which are in the Mint’s National Collection), using state of the art technology. The reduction punch was then cut directly by the Mint’s recently acquired computer engraving machine. How technology has changed since that first die was made 150 years ago! The commemorative coin features the image of the obverse and reverse of the ‘Type I’ Adelaide Pound struck on a gold plated silver centre, which is the exact diameter of the original Adelaide Pound. It is surrounded by a ring of pure silver. Overall this 60.50 grams pure silver proof coin is 50 mm in diameter. It is in fact the largest coin yet produced by the Mint.
The coin is housed in a beautiful presentation case and outer box cover, doing justice to this historical and prestigious issue. A numbered Certificate of Authenticity is included in a booklet giving the history of events that lead up to the striking of this coin. This is the final Certificate of Authenticity signed by the Controller, Mr Graeme Moffatt, before his retirement.

Specifications

Composition: 99.99% Silver
Silver Content: 2.00 oz
Finish: Proof
Denomination: $10
Weight: 60.50 grams
Size: 50.0 mm

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