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 1908 Melbourne is quite a common date, frequently appearing above Extra Fine, though on average grades around good Very Fine. It is available in Uncirculated, but like most Edward VII half sovereigns is extremely scarce in such condition. The coin is practically impossible to acquire beyond Uncirculated due to the damaged dies used by the Melbourne Mint during this year.