Four reasons why the Proof 1927 Canberra Florin is so popular.
1. Genuine rarity
While Melbourne Mint records show a mintage of 400, it is generally accepted that the issue did not 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 gifted to politicians and sold to the general public (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 can be several years. (We last sold a top Proof 1927 Canberra Florin three years ago.)
2. Historically important
The Proof Canberra is Australia's first commemorative coin, 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 in 1927. The coin is distinguished by a unique obverse featuring an enlarged bust of King George V, designed by Sir Edgar Mackennal.
3. A design that resonates with all Australians
In an article published in the industry's CAB Magazine, February 2007, author and respected numismatist Vince Verheyen declared the Proof 1927 Canberra Florin "arguably Australia's most attractive predecimal silver coin". We can only but agree. The reverse of 'Old Parliament House' was designed by George Kruger-Gray.
4. Value and appreciating value
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 every few years. The second thing we noticed was that the coin has enjoyed solid price growth. In the 1980s, a Proof 1927 Canberra Florin was selling for approximately $1000 - $1500 at auction. Today, top quality Proof Canberra Florins are commanding in excess of $20,000.
What makes this Proof 1927 Canberra Florin so good?
That the intention of proof coining is to create a numismatic masterpiece is embodied in this coin.
Use the naked eye and 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.
The raised rims are impeccable. The rims on many Proof Canberra Florins are blemished.
Under a magnifying glass we note, the striations, between the 'ONE' in the legend and the oval containing the date 1927, are strong. 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.
The fields are unblemished. That's amazing for a coin struck nearly a century ago. Our comment here is that this coin's former owners have always respected and cherished its quality for its state of preservation is remarkable.
This Proof 1927 Canberra Florin is an exceptional quality coin.