Collated from promotional material for the book ‘Australia’s Sovereigns’ published by The Perth Mint

There are two designs found on Australian gold sovereigns between 1871 and 1887. One has a Shield reverse and the other a St George and the Dragon. The latter was introduced during the reign of king George III in 1817. It was Sir Joseph Banks who suggested that the theme would remind the world of Britain’s victory over Napoleon at the battle of Waterloo in 1815. Designed by Italian-born Benedetto Pistrucci, the image of St George as a naked Greek warrior sitting on horseback attacking the Dragon with a sword is regarded as one of the most enduring numismatic symbols of all time. Because of the British East India Company’s activity in the China-India trade during this period a number of sovereigns struck by the Australian branches of the Royal Mint were exported to South Asia. These were mostly those with the Shield reverse because Chinese merchants were reluctant to accept payment in gold sovereigns featuring a dragon in an undignified and indeed humiliating position. In European mythology, a dragon is generally a reviled and hated creature that is slain by the hero. In stark contrast the dragon is one of the most important images of Chinese culture, symbolising happiness, immortality, fertility and activity. Images of dragons appear widely in Chinese architecture, clothing, decorative arts and annual festivities. It is hardly surprising that Chinese merchants may have refused to accept coins featuring a dragon being slain.