Proof 1927 Canberra Florin
Two things are clear when you analyse auction realisations of the Proof 1927 Canberra Florin over the past forty years.
The first thing you notice is that the coin is extremely scarce. On average one pristine Proof Canberra Florin appears at auction annually.
The second thing we noticed was that the coin has enjoyed solid price growth. In the 1980s, a Proof 1927 Canberra Flroin was selling for approximately $1000 at auction. By the 1990s, the coin had doubled in price. The turn of the century saw the Proof Canberra Florin move to $6000.
A rapid expansion of the rare coin market, a consequence of the 2000 Sydney Olympics coining program, saw prices on exceptional quality examples exceed $20,000.
Collectors that acquire a Proof 1927 Canberra Florin do so because they value the historical importance of the coin.
The Proof Canberra was minted for one of the most significant events in Australia’s journey to nationhood. The opening of the nation’s first Parliamentary buildings in the national capital.
While Federation occurred in 1901, Federal Parliament sat in temporary accommodation for twenty-six years in Victoria.
The opening of Parliament House in Canberra was a milestone in Australia’s pathway to unity. Officiated by the Duke of York (later King George VI), the formal opening of Parliament House was broadcast to more than one million people via radio stations in Queensland, New South Wales, Victoria and South Australia.
Collectors also enjoy the splendour of its design. And appreciate the value that the coin offers from a price / rarity perspective.
And they look to the future in the knowledge that, given its appeal and its very limited availability, the coin will increase in value.
The Proof Canberra Florin is genuinely scarce.
While Melbourne Mint records show a mintage of 400, it is generally accepted that the issue was not a sell-out and a significant number of proofs were re-melted after failing to find a home. According to respected author Greg McDonald, the actual figure could be as low as 150.
The proofs were sold without a case, thereby introducing the possibility of mishandling. So for the buyer that makes quality a priority, the waiting time for a really nice Proof 1927 Canberra Florin to come along will be a minimum of twelve months.
What makes this Proof Canberra Florin so good?
The first thing we do when we check out a proof coin is to look at it with the naked eye.
- Move the coin through the light and allow the light to reflect off the fields.
- On both obverse and reverse this Proof 1927 Canberra Florin has superb highly reflective fields. It is as though you are looking at a mirror.
- On the reverse, the royal blue peripheral toning on top left is magnificent. The golden peripheral toning continues on the obverse and is stunning, highlighting the detailed portrait of King George V.
- The edges are impeccable.
Having checked out the coin with the naked eye, we then take it under a magnifying glass.
The striations, between the 'ONE' in the legend and the oval containing the date 1927, are strong. This tells us is that the dies were well prepared, brushed with a wire-brush to ensure they were sharp.
- Vertical striations on the obverse are similarly distinct and strong.
- Heavy striations equates to well brushed dies. Well brushed dies equates to a razor sharp, three dimensional coin design.
- We always look at the tell-tale steps of Parliament House on the Proof Canberra Florins ... one, two or three. And this coin has the three Parliamentary steps. It's the sign of a great coin.
- And the fields are unblemished.
This Proof 1927 Canberra Florin is an exceptional quality coin.
The Journey to Parliament House Canberra
Australia’s six colonies were united under the name Commonwealth of Australia on 1 January 1901. Some of the consequences of Federation, however, did not come to fruition until many, many years later.
Australia’s Commonwealth silver coinage was not introduced until 1910, our Commonwealth pennies and halfpennies were issued one year later. Our national pride took a bit of a dent when it was realized that Australia’s mints were ill-equipped to strike the nation’s coinage, so our currency had to be struck overseas.
More than a decade after Federation in 1911, Parliament decided on the location of our national capital, Canberra. Three years later, the Government launched a design competition for a permanent Federal Parliament House. The project was suspended due to the outbreak of war and further attempts to revive the project were stifled due to monetary concerns regarding Australia’s war debt.
In 1923 the Government re-started the Parliament House project, with building commencing one year later.
Federal Parliament, that had been sitting for twenty-six years in temporary accommodation in Spring Street, Melbourne, took up brand new space in Canberra on 9 May 1927 in Australia’s first purpose built Federal Parliamentary building.
The opening of Parliament House in Canberra was a milestone in Australia’s pathway to unity. And it was a big deal. Officiated by the Duke of York (later King George VI), the formal opening of Parliament House was broadcast to more than one million people via radio stations in Queensland, New South Wales, Victoria and South Australia.
The Federal Government took every opportunity to boast its achievements and used currency as an effective conduit. One million florins featuring Parliament House Canberra were struck at the Melbourne Mint and released into circulation.
A further 400 1927 Canberra Florins were struck by the mint to proof quality and sold to collectors.
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