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 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.

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.