The 1919 Kookaburra Square Penny


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The 1919 Kookaburra Square Penny
COIN
The 1919 Kookaburra Square Penny
QUALITY
Choice Uncirculated with impeccable proof-like surfaces
PROVENANCE
Private Collection Melbourne
PRICE
$55,000
COMMENTS
This Square Penny was struck in 1919, the first year of testing at the Melbourne Mint, and features what is referred to as, the type 3 design. The kookaburra is sleek and the value 'ONE PENNY' is modern in style, making the Type 3 design unique. No other Square Penny shares this design. The coin has an additional feature that collectors enjoy. It is extremely rare for we would be lucky to sight a Type 3 Square Penny on the market every two to three years. So if you are excited by the prospect of owning a 1919 Type 3 Square Penny then you can be even more excited by the prospect of owning this particular example because it has been brilliantly struck and brilliantly preserved. You would be forgiven for thinking that the coin was struck to proof quality for both obverse and reverse fields are mirror-like and highly reflective. Technical shots are shown below.
STATUS
Available now
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The reverse of this Type 3 Kookaburra Square Penny features a sleek bird on a short branch. The value 'ONE PENNY' is modern in style. The design is unique. No other Square Penny shares the design of the Type 3. The design detail is crisp, the fields are proof-like, the edges are solid.

The 1919 Kookaburra Square Penny is a great Australian coin rarity, an Aussie classic.

The coin is cherished by collectors for its novel square shape, perfect kookaburra motif. And for the evocative memories it stirs up of Australia as a nation post-World War I.

The Type 3 Square Penny, with its modern lettering and sleek-style kookaburra, has a design that is unique to its type. No other square penny type bears that design.

The 1919 Kookaburra Square Penny has one other redeeming feature. Its acute rarity.

The coins are extremely rare and their infrequent appearances are the very reason why collectors have always faced stiff competition from investors whenever an example appears.

We estimate that fifteen 1919 Type 3 Square Pennies are available to collectors.

This is a minuscule number when you consider that the fifteen coins are never going to be slapped onto a table in one hit and offered for sale at the one time.

So how often can a buyer realistically expect to see a 1919 Type 3 on the market?

Our research, and our experience, confirms that you might expect to be offered a Type 3 Square Penny perhaps once every two to three years.

The history of the Square Penny.

The Melbourne Mint commenced striking Australia's Commonwealth copper pennies in 1919. No sooner had the mint started issuing the coins, than it was directed by Treasury to commence testing an entirely new penny concept, a square coin made from cupro-nickel.

The introduction of the Kookaburra Square Penny underpinned an attempt by the then Labor Government to stir up national sentiment post World War I. To evoke the great 'Aussie' spirit.

 

 

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The obverse shows an uncrowned effigy of George V within a circular legend. The Square Pennies were test pieces and were not struck to exacting standards, this coin the absolute exception to those most commonly found. The surfaces are proof-like and the edges are solid.

The history of the Square Penny ... continued.

If you think about it. Putting the nation’s native bird - the kookaburra - onto a coin was a no-brainer to achieving that goal. A drastically changed shape, a square. And a new metal, cupronickel was part of the total package to maximise impact on the population.

The proposal was contentious in that the monarch, King George V, was to be depicted on the obverse without a crown. Some say it was the rumblings of a Republican movement way ahead of its time.

Tests commenced at the Melbourne Mint in 1919 with the test pieces ultimately passed to dignitaries and Government officials to assess their reaction.

Sadly, in 1921 and after three years of testing, the scheme fell apart. The response to Australia’s square coinage was poor with widespread public resistance to change and people generally rejecting the small size of the coins.

However, the final decision not to proceed seems to have been based mainly on another consideration – the large number of vending machines then in operation requiring a circular coin.

The Square Pennies were test pieces struck to assess public reaction. So, they were not struck to exacting minting standards, a tell-tale sign the lack of uniformity in the width of the edges.

Given to dignitaries to assess their reaction, there was no packaging and we know that not every dignitary was a collector and would have handled them with care. Some of the coins must have been tucked into a fob pocket for they have circulated. Others could have rattled around a top desk drawer. Or passed around to colleagues ... introducing multi possibilities of mishandling.

It is noted that the Kookaburra Square Pennies tone, some more strongly than others, a reflection on their storage in the intervening years. A Square Penny with minimal, attractive toning and beautiful surfaces is a joy to behold. And a prized classic Australian coin rarity.

 

 

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