An International dealer of gold coins and bullion Robert Jaggard won a 1920 Sydney Mint Sovereign at London Auction for a record price AUD$1.02 million (£650,000). Making it the most expensive Australian gold coin in the world. Robert Jaggard, made the record breaking bid by phone from Sydney on behalf of a private Australian collector. The anonymous winning bidder has now completed his collection of Australian sovereigns. only three 1920 Sydney Mint Sovereign held by private collectors and there's only a couple more in museums around the world. Even though they're 360,000 Sovereigns struck by the Mint in 1920, only few sovereign dated 1920. Some believe many of 1920 Sovereigns has been melted down, others think that 1919 dated coins are included in the 1920 mintage.
The sale almost didn't happen.
Mr Jaggard's phone line dropped out just as bidding between the three interested parties peaked.
"I was nervous I was going to miss out on it," he told AAP.
"My client didn't know what happened.
"I just rang him to tell him we got the coin.
"That's all he knows. He doesn't know the drama that happened."
The 1920 Sydney Mint coin was originally sold for $4250 in 1979. It went back on the market in 2006 and was bought for $580,000 at auction.
One of the other two coins was sold three years ago for $844,000.
Mr Jaggard said he was lucky to have been involved in all three sales.
"It's very rare, it's one of the rarest gold coins in the world," he said.
"There are only three in private hands and there's only a couple more in museums, which will never come out anyway."
The veteran expert predicts the sale will help push up the price of Australian gold coins.
"With the trend in the gold market on the up and a lot of interest coming into physical gold, it rubs off into the collectables," Mr Jaggard said.
"It did in the 1980s when gold had a big run up and the same thing is happening now too."