1872/1 M overdate Sovereign: The Melbourne Mint opened in June 1872 after experiencing considerable delays. For one, the majority of the mint staff did not arrive until January 1872. Another problem was that Melbourne Mint had requested 1871 dies from the Royal Mint of England. They had requested 1870 dies, but that requested was not approved. While the dies were in transit - the Ship, Rangoon, sank in November 1871 before arriving in Melbourne. A second order for dies was made and arrived in April/May 1872. They were 1871 dies and were already outdated. An order for 1872 dies was made, but did not arrive until October 1872. The Melbourne Mint hired a Danish jeweler who altered the 1871 dies for the year 1872. The Mint issued (minted) the altered 1872/1 M Sovereigns only for a few days during the month of September 1872. The 1872/1 overdate is highly collectible and commands a significant premium over the regular 1872 issue.