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.
This design is slightly larger than the Type I reverse and shows the designer's initials, B.P . Marsh refers to the 1904 Perth also being sighted with this reverse, however, I have not come across any (Marsh, M, A, 2004) .
The entire Edward VII run is very difficult to acquire beyond
The Perth Mint types are the scarcest, with the 1908 Perth being very difficult to source beyond EF and the 1909 Perth also being very scarce in such grades. The 1906 Melbourne and 1907 Melbourne half sovereigns are also quite rare in mint state, though they do turn up from time to time.
One of the Melbourne Mint obverse master dies has a
The average grade in the series is EF though 1908 and 1910 Sydney half sovereigns do often turn up in AU, while the 1906 Melbourne is generally found in VF to EF, frequently with a better reverse.
The 1907 Melbourne is slightly more common, though tends to turn up less frequently in the lower grades probably because most have been redirected as bullion due to low catalogue values. The date has been quite undervalued for some time, this is probably because of the absence of any mintage figure recorded for the year making it difficult to determine the type's scarcity. It is assumed that the mintage figure for the 1908 Melbourne includes the 1907 mintage; considering a 1:4 ratio between appearances of 1907 Melbourne and 1908 Melbourne half sovereigns, we can approximate a mintage figure of about 100,000.
Examplesof this type are known ranging from EF to upper AU grades. Examples have also been graded from MS62 up to MS64.