Gold Sovereign « EDWARDVS VII D:G:BRITT » 1902.

Minted in 1902 in London, and at the Australian branch mints in Melbourne, Perth and Sydney under the reign of Edward VII, almost 16 million gold sovereign coins were minted (originally a circulating coin, now a bullion coin). The 1902 Edward VII Sovereigns (1902-1910) are now VAT free in UK and provided they were minted after 1817 and a legal tender coin, free from Capital Gains Tax for UK residents. They also are VAT free in European Union, the sovereigns meeting the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC of 28 November 2006 (special scheme for investment gold).

Only one portrait was used on the sovereigns of Edward VII, from 1902 to 1910 inclusive. The engraving of his hair is in fairly low relief, and tends to very quickly show signs of wear. Contact marks and wear that would be focused on a small surface area on another sovereign is spread over a wide portion of Edward’s portrait

Mintmark	Mint	Mintage
L	London	4,738,000
M	Melbourne, Australia	4,267,000
S	Sydney, Australia	2,813,000
P	Perth, Australia	4,289,000
	Total sovereign minted in 1902	16,107,000

Diameter (mm)	Weight (gr)	Thickness (mm)
22,05 mm	Gross weight: 7,99 Gr Fine Gold: 7,32 Gr – 0.2354 troy ounce.	1,52 mm
Edge and Orientation.	Millesimal fineness.	Composition.
➣ Reeded / Milled ➣ Medal alignment ↑↑	22 carats; 917 ‰	91.67% gold and 8.33% Copper.
Mint and Mintmark	Financial Features	Mintage.
« The Royal Mint » London and Australia mints.	Type: bullion coin. Production Years: 1817–present. Legal tender in the United Kingdom, value £1 = 20 shillings.	1902 with 16,107,000 bullion coins.

Australia Edward VII London Mint Gold Sovereign 1902.

The 1902 sovereign minted in London, with a mintage of 4,738,000, marks the first year of Edward VII’s reign. This inaugural date led some people to keep a few shiny, new coins as mementos, though few could afford to save sovereigns at the time. The lack of a mint mark signifies that these coins were produced at the London Mint. However, despite their historical significance, these coins generally hold little additional premium above bullion value—even in uncirculated condition.

Due to their availability and high mintage, London Mint 1902 sovereigns typically trade close to melt value. A fair resale price is often around 94–96% of melt, reflecting that while PCGS has graded over 100 in uncirculated condition, many remain ungraded, so the actual population is likely higher. Recent auction sales of PCGS or NGC-graded examples in MS condition have shown a modest premium of 10–20% above melt value, but after factoring in grading and auction fees, sellers often net just under melt.

Obverse London Gold Sovereign 1902

Reverse London Gold Sovereign 1902

Australia Edward VII Perth Mint Gold Sovereign 1902.

The 1902-P sovereign is widely regarded as a key date within the Edward VII sovereign series and is significant to the Perth Mint series overall. Despite a relatively high mintage of 4,289,000, this coin has become increasingly scarce, especially in grades above PCGS MS62. Unlike later Perth Mint Edward VII sovereigns, the 1902-P is generally well-struck and visually appealing, though it often lacks the full luster and pristine fields characteristic of Sydney Mint sovereigns.

Each Edward VII sovereign contains approximately 7.32 grams of fine gold and is struck in 22-carat gold, weighing 7.98 grams in total. These coins typically carry a slight premium over spot price, with this premium increasing for coins in excellent condition, particularly those graded MS65 or higher. This limited premium fluctuation results from most of these sovereigns being stored in mint bags for decades, with premiums generally ranging from 0% to 20% for well-preserved examples.

Obverse Perth Gold Sovereign 1902

Reverse Perth Gold Sovereign 1902

Australia Edward VII Melburn Mint Gold Sovereign 1902.

The 1902-M Melbourne sovereign is a notable and challenging date in the Edward VII series, with a mintage of 4,267,000. Despite this relatively high mintage, it’s difficult to find in high grades, particularly in PCGS MS62 or above. In fact, MS63 remains the highest grade available for this coin, making well-preserved examples quite rare. In current catalogs, a 1902-M sovereign lists for around $695 in Uncirculated (UNC) condition and $1,200 in Choice Uncirculated (Choice UNC).

The Melbourne Mint, a branch of the Royal Mint in London, opened in 1872 and initially minted only gold sovereigns until 1916. Later, from 1927 to 1967, it produced all denominations of Australian coinage. The 1902-M sovereign is also notable for its pleasing design and solid strike quality, though it doesn’t always exhibit the pristine fields and full luster seen in coins from the Sydney Mint. Premiums for well-preserved examples can range from 10% to 20% above spot, reflecting the scarcity of higher-grade coins, particularly for collectors in northwest Sydney where this series has been assembled over thirteen years.

Obverse Melburn Gold Sovereign 1902

Reverse Melburn Gold Sovereign 1902

Australia Edward VII Sydney Mint Gold Sovereign 1902.

The 1902-S Sydney Mint sovereign, with a modest mintage of 2,813,000, is a scarcer Edwardian date that holds a special appeal for collectors. Two versions of this coin were issued: a standard circulated version and a satin proof coin, the latter being exceptionally rare. Catalog values for the 1902-S Sydney sovereign are approximately $695 in Uncirculated (UNC) condition and $1,200 in Choice Uncirculated (Choice UNC). Well-preserved examples can command premiums of 10% to 20% over spot, reflecting their scarcity, especially in higher grades.

The Sydney Mint, the oldest public building in Sydney’s Central Business District, began operations in 1855 and was Australia’s first mint. It produced gold sovereigns until 1926, when it ceased production of these coins. Edward VII coinage, however, didn’t begin until his coronation in 1902, making this year particularly significant for the series. Collectors, especially in northwest Sydney where this series has been carefully assembled over thirteen years, highly prize these high-grade Sydney Mint sovereigns.

Obverse Sydney Gold Sovereign 1902.

Reverse Sydney Gold Sovereign 1902

Reverse :	Benedetto Pistrucci. Matte background with matte relief of bust of Edward VII. Legend EDWARDVS VII D:G: BRITT: OMN: REX F:D: IND: IMP:
Obverse :	George William De Saulles– Matte background with relief of Saint George killing the dragon. 1902 BP.

How to buy a Gold Sovereign 1902.

When collectors examine the Edward VII obverse, there are a certain number of points which are examined closely for strike & wear.

• The forehead, eyebrow and upper cheek;
• The jaw line running from below the ear to the tip of the chin;
• The vertical line running from 12 o’clock to 6 o’clock;
• The area on Edward’s head just below his bald patch, running from the back of his head to the top of his forehead;
• Weakness will show in a lack of definition of the hair including beard and moustache;
• The top of the ear which would show a lack of sharpness on a weak strike;
• As always, the rims and fields;

When collectors examine a sovereign with the St George reverse, there are a certain number of points which are examined closely for strike & wear. From top to bottom, they are:

• The crest of St George’s helmet;
• St George’s chest, together with the strap & pin fastening his cloak;
• The bridle as it crosses the horse’s neck;
• The muscle separation in St George’s upper thigh;
• The horse’s forequarters & rump;
• The “bloodline” in the sword;
• The upper band across St George’s boot;
• The dragon’s torso below its neck.