1927 Proof Penny
1927 Proof Penny
COIN
1927 Proof Penny
QUALITY
FDC
PROVENANCE
Private Collection Victoria
PRICE
$ 45,000
COMMENTS
Why is this 1927 Proof Penny so highly valued? And why is it that we don’t see more of them popping up in a local coin shop or at auction? The answer lies quite simply in the addition of the word ‘proof’.
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This Penny is a ‘proof’ coin. That means it was struck as a collector’s item and was never intended to be used in circulation. Furthermore it is rare. Proof coins are far rarer than their circulating counterparts. In the case of the Proof 1927 Penny, only four examples have been noted over the last fifty years.

The second factor contributing to its value is its striking and its state of preservation. How well it was struck and cared for in the years after it was created is critical to assessing its value. That this coin has been sharply struck and still retains much of its original copper brilliance gives it a decisive edge over most proof coins out of this era that are well toned, with no traces of their original copper state.

This 1927 Proof Penny was one of a handful of proofs struck at the Melbourne Mint. The coins were destined for mint archives.  If an opportunity arose, the mints would use their proofs to showcase their skills by displaying them at international Exhibitions or sent to other mint’s that came under the Royal Mint umbrella.

This was a situation that demanded the highest quality minting standards.

  • The blanks were hand-picked, highly polished to produce a coin that has a mirror shine and ice-smooth fields.
  • The blanks were hardened and brushed to ensure that the design was sharp and almost three-dimensional in its appearance.
  • The dies were struck twice to create a sharp, well-defined design.
  • The rims encircling the coins were always high, creating a picture frame effect and encasing the coin. The pristine nature of the striking is particularly evident in the denticles. They are crisp and uniformly spaced around the circumference of the coin.

This 1927 Proof Penny is a rare opportunity to acquire an important piece of Australia’s minting history.

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