Coinworks has just announced the sale of one of Australia’s greatest Commonwealth coin rarities, the 1920 ‘Crowned Head’ Square Penny. The final price is confirmed at $375,000.
The buyer from Melbourne is an investor and wishes to remain anonymous.
It is not his first serious foray into the Australian numismatic investment market. Early in 2011 he acquired the world famous million dollar-plus Proof 1930 Penny from Coinworks.
Coinworks has sold only two other Crowned Head Square Pennies. The first was in 2000 for $50,000: the second in 2008 for $275,000.
That the Crowned Head Square Penny has advanced by more than 35 per cent over the last four years reflects favourably on the strength of the Australia’s top coin rarities to maintain price momentum during unsettled financial conditions. It also makes a very positive statement about investor confidence.
This most recent sale of the 1920 Square Penny rounds off a remarkable year for the Coinworks organisation.
While the retail environment could only be described as tough, Coinworks sales have been consistent, the Company profitable with many new prices levels achieved along the way.
Coinworks strength, and the prime reason for its success, is that the Company has always focused on quality material.
Australia’s top coin rarities are genuinely scarce with demand (even in this financially pinched environment) far exceeding supply.
Once quality is introduced into the numismatic selection process the number of specimens available to the buyer is drastically reduced.
It is the limited availability of Australia’s top coin rarities that underpins the market’s strength and insulates it from massive price aberrations.
Coinworks through its web site also encourages buyers to achieve a level of understanding of the product and its price structure before they buy. We don’t want anyone making rash impulsive decisions when it comes to buying coins. We encourage learned decisions which in turn creates stability within the market.
Numismatics are a mid to long term investment, the prime focus diversification. Quick trading is not encouraged.
We want our buyers to be comfortable with the items that they buy.