Two things are clear when you analyse auction realisations of the Proof Canberra Florin over the past fifty years.
The first point that hits you is that the coin is extremely 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. What we know today is that, on average, one pristine Proof Canberra Florin appears at auction annually.
The second point we noticed was that the coin has 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. 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 first Parliamentary building in Canberra, our national capital. While Federation occurred in 1901, Federal Parliament sat for twenty-six years in temporary accommodation in Victoria.
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.
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. 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.
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.
This Proof 1927 Canberra Florin is a premium quality coin.