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Brilliantly matched 1924 Proof Florin and 1924 Proof Shilling, both coins struck at the Melbourne Mint during the reign of George V and the tenure of Albert Le Souef as Deputy Master of the Mint.


75531-Proof-1924-Florin-and-Shilling-Pair-November-2023
Brilliantly matched 1924 Proof Florin and 1924 Proof Shilling, both coins struck at the Melbourne Mint during the reign of George V and the tenure of Albert Le Souef as Deputy Master of the Mint.
COIN
Brilliantly matched 1924 Proof Florin and 1924 Proof Shilling, both coins struck at the Melbourne Mint during the reign of George V and the tenure of Albert Le Souef as Deputy Master of the Mint.
PRICE
$50,000
STATUS
SOLD 5 FEBRUARY 2024
QUALITY
• 1924 Proof Florin, FDC the reverse with brilliant fields, solid striations and stunning golden toning. The obverse a matte finish. • 1924 Proof Shilling, FDC the reverse with brilliant fields, solid striations and stunning golden toning. The obverse a matte finish.
PROVENANCE
• 1924 Proof Florin Nobles Auction August 2001 lot 1433 selling for $18,640 on a pre-sale estimate of $15,000, Madrid Collection of Australian Rare Coins. • 1924 Proof Shilling Nobles Auction March 1991 lot 1392 selling for $5300 on a pre-sale estimate of $3000, Madrid Collection of Australian Rare Coins.
COMMENTS
One George V silver proof coin is a numismatic prize. A pair of George V silver proofs, such as the coins shown above, is numismatic bliss. The reason is simply that George V Silver Proofs are excruciatingly rare and are hotly contested whenever they appear on the market. Ask collectors why they pursue proof coins over circulating currency and the prestige of owning a proof coin is most likely at the top of their list. It's the euphoria that comes with owning something that very few other people can ever possess. An excitement that the owner of the Madrid Collection of Australian Rare Coins experienced when he acquired this perfectly matched Proof 1924 Florin and Proof 1924 Shilling. The 1924 Proof Florin was struck as a Coin of Record at the Melbourne Mint and only four others are known. The 1924 Proof Shilling, also a Coin of Record and two others are known. Given their extreme rarity, it is more than likely that this pair is unique.
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75531-c-Proof-1924-Shilling-REV-TECH-January-2024

1924 Proof Shilling, brilliant reverse fields, solid striations reflecting careful preparation of the dies and magnificent golden toning

75531-c-Proof-1924-Shilling-OBV-TECH-January-2024

1924 Proof Shilling, featuring the portrait of King George V (1910 - 1936).


75531-c-Proof-1924-Florin-REV-TECH-November-2023

1924 Proof Florin, brilliant reverse fields, solid striations reflecting careful preparation of the dies and magnificent golden toning

75531-c-Proof-1924-Florin-OBV-TECH-January-2024

1924 Proof Florin, featuring the portrait of King George V (1910 - 1936).


This Proof 1924 Florin and Proof 1924 Shilling were not struck for collectors as part of any mass-marketing sales campaign. They were struck for the mint's archives and the privileged few. Because it was a specially arranged striking of presentation pieces, only a handful were struck.

Technically, we refer to them as 'Coins of Record'. Australian Pre-decimal Coins that were struck as proofs - but not destined for collectors.

The term, COIN OF RECORD, is to a large extent self-explanatory. It is a coin that has been minted to put on record a date. Or to record a design.

What is not self-explanatory is that Coins of Record were struck to PROOF quality as presentation pieces. And were struck in the most minute numbers satisfying the requirements of the mint rather than the wants of collectors.

Forget the notion of striking ten thousand proofs as collectors are accustomed to today. Let's talk about striking a total of ten coins ... or in the case of this coin a lot less!

For today’s collectors the Coins of Record offer a wonderful link to the past and are extremely rare, two reasons that make them so popular.

There was no commercial angle in the production of Coins of Record. The mints were not out to make money from the exercise. Quite the reverse, striking a proof coin in our pre-decimal era was a very labour intensive (and hence costly) exercise that would have dented the mints annual budget quite considerably. The prime reason why so few coins were struck.

In the striking of a proof coin, the mint’s intention was to create a single masterpiece, coining perfection. Perfection in the dies. Wire brushed so that they are razor sharp. Perfection in the design, highly detailed, expertly crafted. Perfection in the fields, achieved by hand selecting unblemished blanks, polished to create a mirror shine. Perfection in the edges to encase the design … exactly what a ‘picture frame does to a canvass’.

 

A proof is an artistic interpretation of a coin that was intended for circulation. A proof coin is meant to be impactful, have the ‘wow’ factor and exhibit qualities that are clearly visible to the naked eye. A proof coin was never intended to be used in every-day use, tucked away in a purse. Or popped into a pocket.

So, what happened to these Coins of Record? Where did they go? And if they were struck by the mints for their own use, how did they get into collector's hands?

In the main, Coins of Record ended up in the mint’s own archives, preserving its history for future generations. Any coins that were surplus to requirements may also have been sent to a museum or public institution.

Coins of Record were also put on display at public Exhibitions. The two known examples of the Proof 1866 Sovereign and Proof 1866 Half Sovereign were especially struck to exhibit as ‘products of New South Wales’ as part of the Colonial Mints display at the International Colonial Exhibition of 1866 and the International Exposition in Paris, 1867. They were discovered in London in the early 1970s.

It is noted that many of the overseas mints have over time sold off Coins of Record that they considered excess to their requirements allowing them to come into collector's hands. The Royal Mint South Africa sold off several Australian gold proofs in the 1990s.

It is also noted that influential collectors, and those that moved in the same circles as the Deputy Master, did occasionally receive a proof coin. Most likely in exchange for a coin of the same face value, so that the mint's 'books' would be balanced.

 

 


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