1935 Proof Penny, a 'commercial' proof issue struck at the Melbourne Mint
This Proof 1935 Penny was a great Australian coin rarity from the day it was struck. The mintage was minuscule, just 125 coins were minted with the majority sold overseas. This coin is an even greater coin rarity today. It is a super-rarity. Brilliantly preserved with superb design definition, and the finest known out of the original mintage.
When it was first offered at auction in 2005, dealers and collectors alike, had never seen a proof '35' like it before and the price at which it sold smashed all records. And there has been nothing on the market since 2005 that challenges this coin.
This 1935 Proof Penny is magnificent. A gem proof, a full brilliant mint red.
The pride and joy of owning a special coin is markedly enhanced with knowledge of both the people associated with its production and previous owners through whose hands it has passed.
New Zealand numismatist, Henry George Williams played a key role in persuading the Melbourne Mint to issue proof coins on a commercial basis in 1935.
Williams was captivated by the golden-eye appeal achieved by the Melbourne Mint with their proof coppers and ordered 125 pairs. The majority of coins were sold into the advanced collector markets in the U.K. and the U.S, the very reason why the coins are so scarce in the Australian market.
That Williams did not request the minting of any proof silver coins in 1935 reflected his personal preference and his insight into the market, that demand for the bronze coins far outweighed that for the silver.
As the photos reveal, the strike detail and the finish of this coin is unsurpassed by any other proofs out of the George V era. Historical letters confirm that the proofs of 1935 were struck from especially hardened blanks and were struck twice with fresh dies in the presses. The lack of bag marks is consistent with the coins being made effectively by hand.
Natural attrition has taken its toll on the original mintage and we would expect to see a 1935 Proof Penny or a 1935 Proof Halfpenny on the open market, perhaps once every year.
1935 Proof Penny,
a full brilliant mint red
1935 Proof Penny,
a full brilliant mint red
The 1935 Proof Penny was a 'commercial' issue struck by the Melbourne Mint. Commercial in the sense that the mint sold the coins to make money, charging collectors a premium over face value.
But definitely not commercial by today's standards where mintages of 10,000 are the norm and collectors have the benefits of on-line ordering and toll-free phone numbers to buy their favourite collector coins from the Royal Australian Mint or the Perth MInt.
Collectors in the nineteenth and twentieth century were not afforded the same consideration from the operating mints.
The Melbourne Mint was Australia’s second coining facility and opened in 1872 to strike gold sovereigns. The mint did not produce any presentation pieces to celebrate its opening in 1872, a missed opportunity for today's collectors.
In 1916 the Melbourne Mint welcomed in a new era and commenced striking silver coins for the newly formed Commonwealth of Australia. The numismatic shortcoming of not issuing specially struck celebratory issues in the year of its opening was addressed in 1916.
The Deputy Master of the Melbourne Mint authorised the production of sixty cased Presentation Sets, each set comprised of four 1916 dated silver coins, the florin, shilling, sixpence and threepence struck to a specimen finish.
The notion that the mint might have been buoyed by striking coins especially for collectors is indeed a misnomer.
The Melbourne Mint did not strike its next collector issue until 1927, everyone's favourite, the Proof Canberra Florin. And indeed, up until 1955, the Melbourne Mint struck commercial issues on only another five occasions, 1934, 1935, 1937, 1938, 1939 and 1953.
And even then, two of the issues (1934 and 1935) required financing from the private sector, so timid was the Melbourne Mint in committing themselves to a commercial coining programme.
The Melbourne Mint's issues, especially struck for collectors, are extremely scarce and they are celebrated as critical points in Australia's numismatic history.
The table below indicates the collector issues that were struck between 1916 and 1953 and the mintage. The mintage figures have been determined from the mint's historical records including letters and sales ledgers and are shown in brackets.
• 1916 Specimen Set ( 60 )
• 1927 Proof Canberra Florin ( 400 )
• 1934 Proof Set ( 50 )
• 1935 Proof Pair ( 125 )
• 1937 Proof Crown ( 100 )
• 1938 Proof Set ( 68 )
• 1938 Proof Crown ( 52 )
• 1939 Proof Halfpenny ( 40 )
• 1953 Specimen Set ( 12 )
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