Issued to commemorate the hundredth anniversary of Victoria (1834) and the foundation of Melbourne (1935). The coins were sold at a premium of one shilling to help finance the celebrations. 75,000 were struck, but at the end of the event 21,000 remained unsold and were melted.
It features the centenary logo of an equestrian figure, slightly modified to fit the circular format of a coin (the logo was set in an oval). The reverse is the only Australian coin featuring Percy Metcalfe's effigy of King George V, and the legend GEORGE V KING EMPEROR (all other contemporary coins used the effigy by Bertram Mackennal and a legend in Latin).