Among the short lived series of gold coins issued by the Canadian Royal Mint, the 1916 Sovereign is the rarest. It has a reported mintage of 6,111 pieces (which includes eight specimens sent for the annual Trial of the Pyx, or assay), significantly higher than the Specimen-only 1908-C and 1913-C Sovereigns (mintages of 636 and 3,715 respectively). While references cite different numbers of examples extant (Charleton suggests “about 50 known,” Haxby states, “approximately two dozen,” and KM says “only about 20 known”), the fact is that this is the key date to the entire Canadian gold series and its presence in any sale is a landmark event for specialists.
There are several theories as to why the survival of this coin was so dismal, including that a large portion of the mintage was shipped from Canada to England and was lost in a shipwreck. Another possibility is that there was widespread melting during the First World War, and most of these found their way to the melting pot. While there is no certain evidence as to the cause of the rarity, what is certain is that this is one of the most important Canadian coins in the entire series.
In our upcoming ANA sale, August 6-10, we are pleased to offer a lovely MS-61 example, graded while the old green tags were en vogue. A satin-like golden luster bathes both obverse and reverse and frames the devices quite nicely. Only the slightest ticks can be seen when carefully examined, and the piece is perhaps a touch undergraded. PCGS has graded 22 examples of this date (although there may be some resubmissions). Whatever the number of examples known, there are fewer available at any one time than there are serious collectors searching for one. We expect strong bidding participation when this coin crosses the auction block in August.
We are approaching the final days to consign to this important numismatic auction. We still have space for your coins, if you contact your favorite consignment director prior to June 7. If you are not on our mailing list, but would like to be, please contact one of our auction services representatives to reserve your copy of the catalog.
