The 1930 Penny is the first choice for most buyers looking to make a rare coin purchase. Struck during the Great Depression, it is a collector favourite.
The 1930 Penny is the first choice for most buyers looking to make a rare coin purchase.
Minted at the Melbourne Mint during the Great Depression, it is a collector favourite. And because it is such a recognised and respected coin, it is a comfortable choice.
The 1930 Penny is a part of Australian folklore. Struck during the Great Depression, the coin is today a national icon and its star status has made it one of Australia’s most valuable coins. And our most popular. It is unrivalled for popularity, enjoying a constant stream of demand unmatched by any other coin rarity.
Collectors acquire a 1930 Penny for lots of reasons. Taking a nostalgic journey back to their youth. Holding the coin as a family heirloom to pass on to future generations. Or to have simply as an investment.
For those looking for nostalgia, the buying of a 1930 Penny is pure passion and excitement, living out and realising a childhood dream of owning Australia’s most famous coin. Rekindling childhood memories. Or evoking family memories.
For others it is acquired as an investment. Or a family heirloom to pass on to children or grandchildren. History shows us that buying a 1930 Penny can be a very sound investment decision, particularly over the long term. It is a solid coin. Financially reliable. Everyone knows about it and the coin comes with a solid reputation for growth.
One of the great advantages of buying a 1930 Penny is that you can have the pleasure of ownership and make money along the way.
The 1930 Penny
The 1930 Penny
The 1930 Penny is an industry phenomenon, for in a market that is quality focused it is interesting to note that the coin is keenly sought irrespective of its quality ranking. And growth over the mid to long term has been significant across all quality levels.
What is most interesting is that the 1930 Penny stumbled into fame. A review of records at the Melbourne Mint confirms that apart from the six 1930 Pennies struck to proof quality, no pennies were struck for circulation in that year.
The suggestion is that a few circulating strikes may have been minted at the same time as the Proof version, set aside and inadvertently issued years later by mistake. The suspected mintage is 1500. That no one has a definite answer as to how it was minted, only adds to the romance and the mystery that has shaped the image and profile of Australia’s 1930 Penny.
The 1930 Penny was not discovered until the 1940s, allowing at least a decade of circulation before collectors even knew of their existence. Which means that most of the 1930 Pennies had been handled, mishandled, potentially dropped, scratched, or rattled around in change.
So, all 1930 Pennies have undergone circulation, with the majority very well circulated and much used. Struck during the Great Depression and with unemployment tipping 30 per cent, the notion that coins could be saved or kept as a collectible was nonsensical. Any coin that came into a family's hands was used.
It is a simple fact that the point at which the 1930 Penny became a collectible - and was taken out of circulation - determines the extent of wear that the coin sustained. And shapes its price.
Commonwealth of Australia 1930 Penny struck at the Melbourne Mint, featuring the portrait of King George V designed by Bertram Mackennal.
Price: $70,000
Quality: Good Very Fine
Downies sale by private treaty to A. White, August 1999 • Sale by private treaty to current owner, September 2010
This coin is graded Good Very Fine which indicates that there are four sides of the central diamond and six crisp pearls, and vestiges of that elusive seventh and eighth pearl. The oval to the left of the central diamond is intact.
This coin will appeal to the buyer that is looking for a high quality 1930 Penny, one that stands out from the rest. And this coin is most certainly a stand-out piece.
It stands out not just because of its technical grading. But because it has miraculously escaped harsh treatment during its time in circulation. And that’s a total fluke!
Steps to acquiring a 1930 Penny
1. Set your budget.
The point at which the 1930 Penny became a collectible, and was taken out of circulation, determines the extent of wear the coin sustained. And hence its price. As with all purchase decisions, the first step is to set your budget for 1930 Pennies are available across a broad range of prices. The minimum price you can expect to pay for a 'nice' coin is $25,000 - $30,000.
2. Explore your quality options.
The Classic 1930 Penny - the most popular entry level for buyers is a $25,000 - $35,000 coin and we refer to it as the 'Classic' 1930 Penny. Circulated - but nice to the eye. A coin that is technically classified from ‘Fine’ up to About Very Fine on the obverse (the King’s head) with six pearls evident in the King’s Crown. One or two sides of the central diamond also are visible. In summary, the ‘Classic’ 1930 Penny is a well circulated evenly toned piece and following our buying tips, should be overall, aesthetically pleasing.
The Diamond 1930 Penny - the next most popular entry level for 1930 buyers is the $35,000 - $65,000 range. This a price range that delivers the ‘Diamond’ 1930 Penny. A coin that to the naked eye, has its design details relatively intact, and is technically classified from ‘Nearly Very Fine’ to ‘Very Fine’ with the central diamond and six pearls evident in the Kings Crown. The 'Diamond' 1930 Penny was taken out of circulation and became a collectible earlier in its life than the 'Classic'. Evenly toned and again aesthetically pleasing.
The Diamond & Pearl 1930 Penny - a 1930 Penny that has undergone minimal circulation and became a collectible very early on in its life will be graded a minimum of 'Very Fine-Plus' and up to the finest known at 'About Uncirculated'. We refer to it as the 'Diamond & Pearl' 1930 Penny. The 'Diamond and Pearl' 1930 Penny is extremely rare, perhaps forty to fifty would be available. The coin will have a starting price of $65,000 moving up to $400,000 if you are contemplating the finest known.
The coin will have a complete and strong central diamond that almost leaps right out of the coin. Eight pearls are evident in the King’s Crown in varying degrees of strength, from smudges or hints up the highest quality examples that show a complete seventh and eighth pearl. This is an elite coin that became a collectible very early in its life and is of the highest rarity. Waiting lists are the norm for a 1930 Penny of this calibre.
3. But remember, irrespective of the quality, pick a coin that is pleasing to look at.
Irrespective of the quality level and the dollar level, if you are a potential buyer of a 1930 Penny then the best advice we can offer you is to only consider a coin that is visually very attractive and that has no obvious defects from its time in circulation.
The simple point - of acquiring a 1930 Penny that looks 'good' - really counts when, further down the track, it comes time for you to sell and realise on your investment.
The 1930 Penny was not discovered until the 1940s, allowing at least a decade of circulation before collectors even knew of their existence.
Which means that most of the 1930 Pennies had been handled, mishandled, dropped, scratched, or rattled around in change.
Do not accept the huge unsightly gouge. Note, there will always be some signs of circulation with a 1930 Penny, but if they overwhelm the overall aesthetics of the coin, then in our view, do not buy it. Storage, how well a coin has been preserved, is also a contributing factor to the value of a 1930 Penny. If there are tell-tale signs of poor storage, the coin should be knocked back. The very reason why we reject more 1930 Pennies than we accept.
Our attitude with 1930 Pennies is clear. There are a number of 1930 Pennies around, but not all of them are worth owning.
Evaluating a 1930 Penny, the design elements to study.
In this section we present a slideshow and a static presentation of six 1930 Pennies of varying qualities.
Those areas of the obverse design that are the first to wear, the high points, are detailed; the numbers corresponding to the photo shown at right (or on the mobile, below).
1. The lower edge of the band in the crown. In top examples, it is complete and unbroken.
2. The upper edge of the band, complete and unbroken. In top examples, it is complete and unbroken.
3. The 1930 Penny was struck with four sides of the central diamond. A top coin has four sides of the central diamond. In a well circulated example, the diamond will be obliterated
4. The very famous, tell-tale (and rarely seen) seventh and eighth pearls.
5. The oval to the left of the central diamond. Shows wear on the right hand side in circulated examples.
6. The six pearls that are seen in 90% of examples.
7. The eyebrow, a point of wear.
8. The end of the moustache, also a point of wear.
There are other aspects to the obverse design that we look at such as the cross on the orb right at the top of the crown, the monarch's cheek and the details in the crown and the robes. But the main features are as shown above.
SLIDESHOW -
THE HIGH POINTS OF A 1930 PENNY
SLIDESHOW
COIN 1 - ABOUT UNCIRCULATED
SLIDESHOW
COIN 2 - GOOD EXTREMELY FINE
SLIDESHOW
COIN 3 - EXTREMELY FINE
SLIDESHOW
COIN 4 - GOOD VERY FINE
SLIDESHOW
COIN 5 - VERY FINE
SLIDESHOW
COIN 6 - GOOD FINE
SLIDESHOW -
THE HIGH POINTS OF A 1930 PENNY
We present a slideshow of six 1930 Pennies.
Grading ranges from the very best example at About Uncirculated to a well circulated Good Fine.
Note the changes to the high points!
And the increased level of marks in the fields.
SLIDESHOW
COIN 1 - ABOUT UNCIRCULATED
Technical details intact with just a whisper touch to the high points.
SLIDESHOW
COIN 2 - GOOD EXTREMELY FINE
Upper and lower bands of the crown intact, seventh and eighth pearls just starting to flatten. Slight wear to the eyebrow and moustache.
SLIDESHOW
COIN 3 - EXTREMELY FINE
Upper and lower bands intact, seventh and eighth pearls starting to flatten out but separated. Wear to the eyebrow and moustache.
SLIDESHOW
COIN 4 - GOOD VERY FINE
Lower band intact, upper band interrupted slightly through wear. Four sides to the central diamond. Oval to the left of diamond intact. Seventh and eighth pearls fused and flattened. Wear to the eyebrow and moustache.
SLIDESHOW
COIN 5 - VERY FINE
Lower band intact, upper band interrupted through wear. Four sides of the central diamond. Seventh and eighth pearls obliterated as is half of the oval to the left of the diamond. Extensive wear to the eyebrow and moustache.
SLIDESHOW
COIN 6 - GOOD FINE
Upper and lower band interrupted through wear. One side of the central diamond just showing. The six pearls starting to flatten out, the seventh and eight pearls obliterated as is the right hand side of the oval to the left of diamond. Extensive wear to the eyebrow and moustache.
Static photos of those 1930 Pennies shown in the slideshow above.
About Uncirculated 1930 Penny
Technical details intact with just a whisper touch to the high points.
Good Extremely Fine 1930 Penny
Upper and lower bands of the crown intact, seventh and eighth pearls just starting to flatten. Slight wear to the eyebrow and moustache.
Extremely Fine 1930 Penny
Upper and lower bands intact, seventh and eighth pearls starting to flatten out but separated. Wear to the eyebrow and moustache.
Good Very Fine 1930 Penny
Lower band intact, upper band interrupted slightly through wear. Four sides to the central diamond. Oval to the left of diamond intact. Seventh and eighth pearls fused and flattened. Wear to the eyebrow and moustache.
Very Fine 1930 Penny
Lower band intact, upper band interrupted through wear. Four sides of the central diamond. Seventh and eighth pearls obliterated as is half of the oval to the left of the diamond. Extensive wear to the eyebrow and moustache.
Good Fine 1930 Penny
Upper and lower band interrupted through wear. One side of the central diamond just showing. The six pearls starting to flatten out, the seventh and eight pearls obliterated as is the right hand side of the oval to the left of diamond. Extensive wear to the eyebrow and moustache.
Good Extremely Fine 1930 Penny
Upper and lower bands of the crown intact, seventh and eighth pearls just starting to flatten. Slight wear to the eyebrow and moustache.
Extremely Fine 1930 Penny
Upper and lower bands intact, seventh and eighth pearls starting to flatten out but separated. Wear to the eyebrow and moustache.
Good Very Fine 1930 Penny
Lower band intact, upper band interrupted slightly through wear. Four sides to the central diamond. Oval to the left of diamond intact. Seventh and eighth pearls fused and flattened. Wear to the eyebrow and moustache.
Very Fine 1930 Penny
Lower band intact, upper band interrupted through wear. Four sides of the central diamond. Seventh and eighth pearls obliterated as is half of the oval to the left of the diamond. Extensive wear to the eyebrow and moustache.
Good Fine 1930 Penny
Upper and lower band interrupted through wear. One side of the central diamond just showing. The six pearls starting to flatten out, the seventh and eight pearls obliterated as is the right hand side of the oval to the left of diamond. Extensive wear to the eyebrow and moustache.
The fabulous rise of the 1930 Penny.
The fabulous rise of the 1930 Penny.
The 1930 Penny is a part of Australian folklore. The coin is a national icon and its star status has made it one of Australia’s most valuable coins.
What is most interesting is that the 1930 Penny stumbled into fame. A review of records at the Melbourne Mint confirms that apart from the six 1930 Pennies struck to proof quality, no pennies were struck for circulation in that year.
Many theories have been put forward as to the accidental minting of the 1930 Penny.
One theory suggests that a few circulating strikes may have been minted at the same time as the Proof version, set aside and inadvertently issued years later by mistake.
The more popular explanation is also the more romantic. Mint policy dictated that the dies were prepared in readiness for the striking of a penny in 1930. The Depression and the lack of economic growth meant that, apart from striking a small number of halfpennies and gold sovereigns, the Melbourne Mint became a tourist attraction. It is thought that a mint guide minted small batches of 1930 pennies for tourists as souvenirs of their visit.
The suspected mintage is about 1500 coins.
The accidental minting of the 1930 Penny was not discovered until the 1940s, dealers responding to the discovery by offering to pay up to 10/- for an example. However, it was not until the 1960s that the 1930 Penny became a national symbol. Newspapers were instrumental in creating that image, television played a lesser role.
Lists of Australian coins and their market prices and headlines such as “Have you cashed in on Australia’s coin craze yet?” and “A Penny could be worth £500” appeared in the 60s in the daily newspapers.
The nation’s rare coin market reacted in a frenzy as thousands cashed in on the opportunity to make big money.
In 1964, the Sydney Sunday Telegraph published a guide to the latest prices on Australian coins. It was the first time that such a list had been published and, while most pennies were fetching a small premium over face value, the 1930 Penny was listed at £50 in Fine condition. (Today that same coin would be worth close to $25,000.)
By 1965, a Fine 1930 Penny had more than doubled in price to £120. By decimal changeover, the price had moved to £255 ($510) and the 1930 Penny had captured the imagination of collectors and non-collectors alike.
Before the arrival of decimal currency in 1966, no Australian could look at a penny without glancing at the date just in case it was the elusive ‘1930’. A product of the Depression, it was everyone’s chance to make big money fast.
The craze was driven on the one hand by the lure of quick money and on the other by the pressure of the collector market for supplies. Decimal currency changeover posed an imminent and very real danger to coin collectors - the melting down of undiscovered rare pieces. Collectors keen to complete sets of all coins minted in Australia rushed to acquire the elusive pieces at rapidly escalating prices.
We are well into the decimal era now, so no one checks for pennies in schoolyards anymore. But, the backs of old couches and the deep recesses of old furniture are still to this day routinely checked. Just in case.
THE 1930 PENNY - FAQ
I have a 1930 Penny. I would like to know what it is worth.
First up take photographs of both sides of the coin. Make sure the date ‘1930’ is clear and visible. Then take a close-up photograph of the King’s ‘crown’ on the head side of the coin.
Email the photographs to info@coinworks.com.au for an assessment and valuation.
My Penny has the date '1930' but features a lady on a seat. What is it worth?
The Australian 1930 Penny shows COMMONWEALTH OF AUSTRALIA around the edge of the ‘tail’ side of the coin.
The penny with Britannia seated is British. The coin was produced at the Royal Mint London and the mintage was a gargantuan 29,097,600.
In used condition the British 1930 Penny has no real commercial value.
Can I sell my 1930 Penny through Coinworks?
Absolutely. And Coinworks can offer you two options.
We can purchase the coin outright. Or sell the coin on your behalf on a consignment basis at a fixed commission rate.
Either way we will have to physically sight the coin. And we will require background information as to where it was obtained.
Please contact us info@coinworks.com.au
Are there other dates in the Australian penny series that are valuable?
Yes. The years 1925 and 1946 are also considered scarce and valuable. However, they are nowhere near as valuable or rare as the 1930 Penny.
An average condition 1925 Penny would be valued in the range of $100 - $150.
An average condition 1946 Penny would be valued in the range of $50 - $60.
An average condition 1930 Penny can be a $15,000 - $20,000-plus proposition.
Will it help if I clean my 1930 Penny and make it look brand new?
Rule of thumb. Do not touch your coins! Cleaning can impact very heavily on the potential value of any coin.
Coins are best left in their original unaltered state.
I would like to buy a 1930 Penny. Should I wait for an Uncirculated example to become available?
The 1930 Penny was discovered in the 1940s, at least ten years after it was struck, so all 1930 Pennies have circulated. Added to this, the coin was struck during the Great Depression and very few people could at the time afford to put their coin aside as a keepsake.
All 1930 Pennies have been used. And the majority, very well used which equates to a numismatic quality grading of Fine. None are Uncirculated.
Our advice to people wanting to acquire a 1930 Penny is to select a coin that suits their budget.
And as time passes and your budget increase, trade back your 1930 Penny on a higher quality example.
How many 1930 Pennies are believed to have been struck?
The industry believes that 1500 were originally struck at the Melbourne Mint.
I think I have a Proof 1930 Penny. How can I be sure?
The Melbourne Mint has a record that indicates six examples of the Proof 1930 Penny were struck.
And they are all accounted for.
Three examples reside in Museums and public institutions. The remaining three are currently held with Coinworks clients, one in Melbourne, one in Queensland and the third in Sydney.
Highlights of Coinworks Inventory
© Copyright: Coinworks