Four reasons why the Proof 1927 Canberra Florin is so popular.
1. Genuine rarity
We look at rarity from two perspectives. The original mintage is a consideration. But so too is our experience out in the wider market place. Just how often we are seeing the coins surface. And the quality level of those coins that are appearing.
You would be lucky to sight one pristine Proof Canberra Florin at auction annually and this is confirmed by our checking of the three major Australian Auction Houses. They did NOT offer an example in 2021! And none to date in 2022!
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 which explains why they are seen so infrequently.
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 a minimum of two years. Perhaps even longer.
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 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
Quality Proof 1927 Canberra Florins have enjoyed solid price growth. In the 1980s, a Proof 1927 Canberra Florin 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. Today, the coins are commanding $30,000.
What makes this Proof Canberra Florin so good?
Step 1. Use 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. The edges are impeccable.
Step 2. Use an eye-glass.
Under a magnifying glass we note, 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 solid uninterrupted Parliamentary steps. It's the sign of a great coin.
The fields are unblemished. 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.