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Rare Australian gold five pounds coin, offered with a starting price of €700,000 at MDC Monaco.

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South Australia was officially established as a British Colony on December 28, 1836, and became an autonomous colony in 1856.

In 1851 the discovery of gold sparked a gold rush. An analysis office was founded in 1852 making ingots and a local mint was set up to meet the need to convert the gold nuggets without royal approval.

Local engraver Joshua Payne produced the coins for the Government Assay office in Adelaide in 1852. Ten shilling, one pound and five pound coins were planned but only the one pound coin was minted. In 1921, the Melbourne Mint did a special strike of just seven five pound coins, modelled on Payne’s coin from 1852. Another example is at the Victoria Museum in Melbourne.

The starting price is €700,000.

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