1930 Penny


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1930 Penny
COIN
1930 Penny
QUALITY
Good Fine / Very Fine
PROVENANCE
Private Collection Melbourne
PRICE
$28,000
COMMENTS
A former (and somewhat famous) Australian pop musician in the 1960s turned professional businessman in the 1970s, the acquisition of this 1930 Penny fulfilled a lifelong ambition. Now retired to the South of France ... his coin is up for private sale. His 1930 Penny is the classic example of a coin that has circulated but has miraculously survived its time in circulation unscathed. A glance at the photos shows it to be so. With this coin you can tick the box for QUALITY. The coin has survived its time in circulation with minimal affect. You can also tick the box on PRICE for at $28,000 this 1930 Penny is advantageously priced. But there is a third box relating to this coin that must be ticked. And that's the box titled VALUE FOR MONEY for over the next three weeks we are giving away a Choice Uncirculated 1930 Melbourne Mint Sovereign with every 1930 Penny sold. A great 1930 Penny has now become even greater with our bonus offer.
STATUS
Available now
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Enquire Now
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Superb reverse with strong upper and lower scrolls and well defined inner beading.

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Portrait of George V depicted on the obverse.

Tick the box for quality.

We follow a very simple rule when it comes to 1930 Pennies.

We only consider coins that are visually very attractive and have no obvious defects from their time in circulation.

The reason is simply that 1930 Pennies were used, with the majority very well used, before collectors discovered their existence. Which means that most of the coins had been handled, mishandled, dropped, scratched or rattled around in change.
The very reason why we reject more 1930 Pennies than we accept.

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 your coin and realise on your investment.

This coin follows our prime rule of acquiring a visually attractive 1930 Penny, as the photographs reveal.

The obverse shows the first and into the second side of the central diamond and six plump pearls.
Sounds technical? Probably it does but it is these facts that indicate the level of circulation that this coin has sustained.

The reverse is graded higher again at Very Fine and is very impressive with strong upper and lower scrolls, well defined inner beading and very nice edges.
Both obverse and reverse have minimal marks in the fields and handsome toning.

This is a coin that you will proudly show off to your family and friends. And are guaranteed to attract positive comments.

Tick the box for price.

Our normal R.R.P. on this coin is $29,500. And that is a very fair retail price given its outstanding quality attributes.

Today it is being offered at $28,000.

As a comment on the price in relation to the quality we regard this coin as one of the nicest 1930 Pennies that we have sold.

It is just the coin that has everything.

All the technical details and none of the defects that we see in most circulated coins.
 


The history of the 1930 Penny.

The 1930 Penny is a part of Australian folklore. The coin is a national icon and its star status has made it one of Australia’s most valuable coins.
What’s most interesting is that the 1930 Penny stumbled into fame. It was the coin that was never meant to be struck.

Officially the 1930 Penny was never struck and a review of minting records at the Melbourne Mint confirms that no pennies were struck for circulation in that year. (The mint does however have a record of the six Proof 1930 Pennies that were struck as museum pieces.)

Many theories have been put forward as to the accidental minting of the 1930 Penny. One theory suggests 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 more popular explanation is also the more romantic. 

Mint policy dictated that the dies were prepared in readiness for the striking of a penny in 1930. The Depression and the lack of economic growth meant that, apart from striking a small number of halfpennies and gold sovereigns, the Melbourne Mint became a tourist attraction. It is thought that a mint guide minted small batches of 1930 pennies for tourists as souvenirs of their visit.

The suspected mintage is about 1500 coins.
Before the arrival of decimal currency in 1966, no Australian could look at a penny without glancing at the date, just in case it was the elusive ‘1930’. A product of the Depression, it was everyone’s chance to make big money fast.

The accidental minting of the 1930 Penny was not discovered until the 1940s. Dealers responded to the discovery by offering to pay up to 10/- for an example. However, it wasn’t until the 1960s that the 1930 Penny became a national symbol. Newspapers were instrumental in creating that image, television played a lesser role.

Lists of Australian coins and their market prices and headlines such as “Have you cashed in on Australia’s coin craze yet?” and “A Penny could be worth £500” appeared in the 60s in the daily newspapers. The nation’s rare coin market reacted in a frenzy as thousands cashed in on the opportunity to make big money.

In 1964, the Sydney Sunday Telegraph published a guide to the latest prices on Australian coins. It was the first time that such a list had been published and, while most pennies were fetching a small premium over face value, the 1930 Penny was listed at £50 in Fine condition (today that same coin would be worth more than $20,000). 

By 1965, a Fine 1930 Penny had more than doubled in price to £120. By decimal changeover, the price had moved to £255 ($510) and the 1930 Penny had captured the imagination of collectors and non-collectors alike.

The craze was fuelled on the one hand by the lure of quick money and on the other by the pressure of the collector market for supplies. Decimal currency changeover posed an imminent and very real danger to coin collectors - the melting down of undiscovered rare pieces. Collectors keen to complete sets of all coins minted in Australia rushed to acquire the elusive pieces at rapidly escalating prices.

There are no pennies being checked in schoolyards anymore, but for many collectors the journey to acquire our most famous penny still goes on. The 1930 Penny is still to this day the glamour coin of the numismatics industry and is unrivalled for popularity, enjoying a constant stream of demand unmatched by any other numismatic rarity. 

There is no doubt it is an industry phenomenon, for in a market that is quality focused it is interesting to note that the 1930 Penny is keenly sought irrespective of its grading - and growth over the mid to long term has been significant across all levels of quality.

The 1930 Penny was selling for £50 in the 1950s. A decade later by decimal changeover, the coin was fetching £255 ($510).

By 1988, the year Australia celebrated its Bicentenary, the 1930 Penny had reached $6000. The turn of the century saw 1930 Penny prices move to $13,000.

And with a 100th anniversary just over a decade away, the push to acquire Australia’s favourite Penny is really on.


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