1929 Proof Halfpenny struck as a Coin of Record at the Melbourne Mint, ex Roy Farman, and the finest of four known examples
This Proof 1929 Halfpenny was offered as lot 1422 in Australian Coin Auctions sale in March 2001. One coin in a collection of proofs that took the market by storm. Each coin sold for prices that far exceeded their pre-sale estimate, charting new price territories for copper proofs. As a case in point this coin sold for $12,000, nearly double its pre-sale estimate. Quality-wise, the coins were definite one-offs. Quite exceptional. The strike of this 1929 Proof Halfpenny is magnificent. The denticles and inner-circle beading on the reverse are pristine. And the fields, full brilliance on both obverse and reverse. This is proof coining at its best! Great coins tend to have a history; a narrative that involves a person that is numismatically influential, a VIP or a Government dignitary. A story that helps us understand why the quality is so extraordinary. And in the case of this Proof 1929 Halfpenny the person is Roy Farman. It was acquired in the 1950s from Farman, the exceptional quality of the coin said to have been a consequence of his close relationship with Albert Le Souef, a former Deputy Master of the Melbourne Mint.
This 1929 Proof Halfpenny was but one coin in a small collection of George V copper proofs that was originally owned by Roy Farman.
The collection changed hands in the 1950s and was eventually offered at a public auction in Melbourne by Downies Australian Coin Auctions, in 2001 and 2002.
The collection was comprised of Melbourne Mint Coins of Record of the following dates: Proof Pennies struck in 1920, 1926, 1931, 1932 and 1936. And Proof Penny and Proof Halfpenny pairs struck in 1928 and 1929.
All were extraordinary. The auction bidding frenetic.
The industry contends that the exceptional quality of these proofs had to have been a consequence of Farman’s close relationship with Albert Le Souef, who maintained a strong relationship with the mint even after his retirement.
In the Farman/Le Souef era, Coins of Record were (theoretically) out of reach of collectors. You had to have a strong connection into minting circles to gain access to them. And if you did have that connection you would almost certainly be guaranteed the best quality.
And it is important to note that, in this era, proofs had no commercial value over and above their face-value. They were simply collector's items! (PS Today, they are still collector's items, but with a definite commercial twist.)
1929 Proof Halfpenny
Melbourne Mint Coin of Record
1929 Proof Halfpenny
Melbourne Mint Coin of Record
Australia’s Coins of Record are admired and respected worldwide. As with fine art and fine jewellery, they have prestige value.
A Coin of Record is an artistic interpretation of coinage, a strikingly beautiful coin beyond ordinary currency, individually crafted to standards far exceeding that required of a circulating coin.
Using technical terms, Coins of Record were struck using special minting techniques to either a proof or specimen finish involving highly polished blanks to create mirror fields and carefully prepared dies to ensure a wealth of design definition.
A Coin of Record is a showpiece. The crown jewels of coinage, adding glamour and exceptionality to any collection.
Whereas production of circulating coinage was dictated by Government, Coins of Record were struck at the discretion of the mint master. Placed in the mint’s archives for posterity. Perhaps, an example forwarded to the monarch. Coins of Record were occasionally produced for the Royal Mint London, a selected museum or to display at an international exhibition. Or gifted to a dignitary.
All circumstances that necessitated the very best in minting standards.
The coins were not produced every year and, as they were individually crafted, the process was time consuming and the mintages tiny, therefore.
For Melbourne Mint copper proofs, generally less than six pieces.
1929 Proof Halfpenny struck as a Coin of Record at the Melbourne Mint, ex Roy Farman, and the finest of four known examples.
Australian Coin Auctions 15 March 2001 (Lot 1422)
Price: $22,500
Great coins tend to have a history; a narrative that involves a person that is numismatically influential, a VIP or a Government dignitary.
A story that helps us understand why the quality is so extraordinary. And in the case of this Proof 1929 Halfpenny the person is Roy Farman.
It was acquired in the 1950s from Farman, the exceptional quality of the coin said to have been a consequence of his close relationship with Albert Le Souef, a former Deputy Master of the Melbourne Mint.
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