1930 Penny


1930 Penny
1930 Penny
COIN
1930 Penny
QUALITY
good Fine / Nearly Very Fine
PROVENANCE
Private Collection Queensland
PRICE
$ 29,500
COMMENTS
It is a fact that every 1930 Penny that we acquire … is sold relatively soon after it is featured. We have formed the view that our clients respect our selection protocols. And that our clients are aware that we hand select our coins on the basis that we are happy to buy them back. As a case in point this 1930 Penny was bought back from the owner of the famous Madrid Holey Dollar.
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The obverse of this 1930 Penny is graded good Fine and shows six pearls and a partial central diamond. On the reverse the upper and lower scrolls are strong, so too the inner beading.

The coin is evenly toned and has minimal marks in the field and is extremely attractive to look at even though it has circulated. In our opinion a coin of this ilk has the greatest investment potential.

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’s most interesting is that the 1930 Penny stumbled into fame. Officially the 1930 Penny was never struck and a review of minting records at the Melbourne Mint confirms that no pennies were struck for circulation in that year. The mint does however have a record of the six Proof 1930 Pennies that were struck as museum pieces.

Many theories have been put forward as to the accidental minting of the 1930 Penny. 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 1500 to 2000.

The 1930 Penny is still to this day the glamour coin of the numismatics industry and is unrivalled for popularity, enjoying a constant stream of demand unmatched by any other numismatic rarity.

There is no doubt it is an industry phenomenon, for in a market that is quality focused it is interesting to note that the 1930 Penny is keenly sought irrespective of its grading - and growth over the mid to long term has been significant across all levels of quality.

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PO Box 1060 Hawksburn Victoria Australia 3142

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