In 1903, sovereigns were struck in four mints: London (no mintmark) and the three Australian mints, Sydney (mintmark S), Melbourne (mintmark M) and Perth (mintmark P). The mintmark (if present) is in the exergue or "ground-line" the horse is standing on, and should be above the gap between the 9 and the 0 in the date. The London coins are slightly scarcer, and the Melbourne coins the commonest, but unless the coin is truly Unc, it's probably not going to be worth too much above bullion value (which is currently US$250).
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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