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Australia, 1875 Melbourne St George Reverse Sovereign -
McD 151b, medium tail. Scarce this nice, and the first I have seen with what appears to be the medium tail. It is unpriced in the Greg McDonald catalogue and apparently known by only one other coin. (However, images indicate that the coin in the Quartermaster Collection may have also been a medium tail, although it was described as a long tail.) As for its rarity and value? It’s hard to put a number on this, but it appears that the medium tail variety is less common than the long tail variety. Further research is recommended.
Grades PCGS MS63.Product ID: 1875M28393451