The first half sovereigns struck under King Edward VII were struck in 1902 following His Majesty's coronation. This series was the fifth half sovereign series to be struck at Australian mints. The obverse , designed by George William De Saulles, features an uncrowned bust of Edward VII on the obverse, facing towards the right. The legend reads EDWARDVS VII D: G: BRITT: OMN: REX F: D: IND: IMP:.
The Type I
This design is slightly smaller than the Type II reverse and lacks the designer's initials, B.P.
Approximately 375,000 half sovereigns were struck for this type making it quite difficult to acquire, especially if sought in better condition. Typical mint state examples grade MS61 to MS62, with examples above MS62 practically impossible to source in any date other than the 1902 Sydney; the Quartermaster sale did offer a 1903 Sydney, which would have likely certified at MS64 or higher, that realized $5,486 (Monetarium, 2009) .
Of the series, the 1904 Perth is by far the toughest date to acquire, being extremely rare above AU; while the 1903 Sydney is the most common date, in general owing to the highest mintage.
The 1902 Sydney is one of the tougher Sydney Mint years of the Edward VII series. But in mint state it is an entirely different story with one, relatively large, hoard of the date surfacing late last century that was distributed by Noble Numismatics.The 1902 Sydney is available with both a brilliant finish and a matte finish. The brilliant finish is slightly scarcer in the upper grades, while no distinction can be made between the two in the circulated grades. Coming from a mintage of only 84,000, it is quite difficult to acquire with lower grade examples very rarely appearing on the market. Note that the mintage figures for the two types are inclusive of each other. No distinction is made in the Royal Mint reports.