This is a coin that has little respect, nor does its larger sovereign brother although both are rare in higher grades. Gold from the London mint was rather sparse in 1879: 35,000 Half sovereigns struck 20,000 Sovereigns struck The sovereign (Marsh rates as R4) comes only very poorly struck on the obverse with even AU coins looking a bit poorly. These evidently were "paid" out into circulation, and higher grades above AU53 are quite elusive. The half sovereign in grades EF and above is prohibitively rare and circulated rather widely. Pictured here is an AU55 that I did not photograph well, and looks much better in the PCGS pop photos. It is listed as R2 in Marsh but is likely R5 in Mint state - and I have never seen one at that level. Occasionally lesser grade specimens show up, and usually go rather cheaply when found (such is coming up in the BSJ Auction to be held presently). This coin at PCGS is not only "Pop Top" but is [newly coined] "Only Pop".
Its seems funny when mintages of 35K/ 20K is considered rare. Many German States AV coins have mintages below 5000 examples or less. Some from 1600-1750AD period, less then 500.
I mean, obviously depends on demand. One of my Saxony-Albertine coins had a 2,000 mintage, however, I can't find any record of sales online besides mine (small billion coin) I got for less than 20.
That is so true, look at the crazy prices still being for the SS-Central America 1857-S Double Eagles. They are still bringing up examples from the wreck. Prices are still in 10K+ for MS-65 examples. Although with Sovereigns, some dates/ Very fine/ Extra Fine may go for melt/ while MS-65/66 are $$$$$$.
Actually these were bullion coins that saw heavy circulation and very few survived. So initial mintage probably does not reflect especially the half sovereign being equally rare to any of the cited examples ( ie - I have never seen a mint state 1879 London half sovereign), so the surviving population in all likelihood would then be quite rare indeed. And I daresay the economy of England and the empire was much larger than any city state in Germany....
