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Rarity - one of an estimated twenty to twenty-five known. Statistically, a Type 11 Kookaburra Penny would be offered annually.
Composition - Nickel 75% Copper 25%
Reverse - A kookaburra that is unique to the Type 11, designed by Australian artist Douglas Richardson. The kookaburra is large, the eye struck incuse, the tail with four feathers. The branch is low. The words ONE PENNY are featured in one line across the base of the coin.
Obverse - Uncrowned effigy of George V, portrait prepared by Australian artist, Douglas Richardson, the hair an off-centre part, softer facial features and the top of the head noticeably flatter. The circular legend reads GEORGIVS D. G. BRITT: OMN:REX, the date '1921' appearing below the portrait, separated from the legend by ornamental dots. The obverse is unique to the Type 11.
The year 1921 hosts two design types, the Type 11 and the Type 12. The coins are the most available in the series and this is not a criticism, simply a statement of fact. Both coins are scarce and relative to other Australian coin rarities are infrequently offered. (The Type 11 offered once each year.)
A market is created when buyers and sellers interact, driven by a mutual interest in exchanging goods. This interaction establishes a price based on supply and demand. A market can't exist without supply and it is the Type 11 and the Type 12 that creates the market for the Kookaburra coins and sustains and excites buyer interest in the series. If every coin in the kookaburra series had the rarity of the Type 4, with only four known and offered once a decade, you simply wouldn't have a vigorous market.
The availability of the Type 11, and its affordability, makes it a very popular choice for buyers to enter the Kookaburra series.
1921 Kookaburra Penny, Type 11,
brilliant fields, strong edges and Uncirculated.
1921 Kookaburra Penny, Type 11,
brilliant fields, strong edges and Uncirculated.
The Kookaburra Penny and Halfpenny were trailblazers: Australia's first attempt at independent design in our coinage, produced in 1919, 1920 and 1921 at the Melbourne Mint. Coins with simple design elegance, produced for Australians, by Australians.
Avand-guard and adventurous, the historical significance of the kookaburra coins cannot be overstated.
The coins pushed the boundaries of traditional design practices, using a 'never-tried before' concept of depicting wildlife unique to Australia. And introduced an innovative material of cupro-nickel.
All of which were taken up in 1966 with Australia's decimal currency changeover!
In 1919, the Government put forward a proposal to replace the round 'British-styled' penny and halfpenny in use at the time with completely new Australian coins. Proudly nationalistic, crafted on one side, with a kookaburra sitting on a branch, underneath the word 'AUSTRALIA' and on the other side, a portrait of George V.
Eleven variations of the penny and two of the halfpenny were produced over three years, each a variation on the one kookaburra theme and each variation assigned a numeric design type, Type 1 to Type 13, to make it easy for collectors.
The Kookaburra coins were test pieces and were not struck to the exacting standards of a proof strike, the very reason why the coins show variations in the thickness of the edges. We note that the edges have been well executed on this coin.
Given to dignitaries to assess their reaction, there was no packaging and we know that not every dignitary was a collector and would have handled them with care. Some of the coins must have been tucked into a fob pocket for they have circulated. Others could have rattled around a top desk drawer. We note that this coin has been brilliantly preserved. The fields are fully brilliant!
It is a statement of fact that a well struck and well-preserved kookaburra coin is a joy to behold.
This Proof 1935 Penny was a great Australian coin rarity 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.
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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 )
This 1919 Kookaburra Penny has an extremely rare design, a kookaburra reverse that is unique to its design type and that is not shared with any other coin in the series. Known as the Type 5, only six other examples are known. Given to dignitaries to assess their reaction, there was no packaging for the kookaburra coins (perhaps tissue paper) a factor that immediately introduces the potential of mishandling. This coin, a case in point. It has, in its lifetime, endured a bit of rough treatment, perhaps may have been cleaned. And that’s the way it goes for some of the kookaburra coins for, aside from the lack of packaging, they were gifted to non-collectors, simply a curiosity to attract comments. Politicians and dignitaries that were not trained to handle them with the utmost care. Collectors of the Kookaburra coins know that the Type 5 is rare. And this example, at Extremely Fine has been priced accordingly to reflect its quality ranking. At $15,000, it is priced to sell.
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In 1919, the Government put forward a proposal to replace the round 'British-styled' penny and halfpenny in use at the time with completely new Australian coins. Proudly nationalistic, crafted on one side, with a kookaburra sitting on a branch, underneath the word 'AUSTRALIA' and on the other side, a portrait of George V.
It was Australia's first attempt at independent design in our coinage. A currency that was Australian in imagery, concept and form. Coins with simple design elegance, produced for Australians, by Australians, in 1919, 1920 and 1921. Eleven variations of the penny and two of the halfpenny were produced over three years, each a variation on the one kookaburra theme and each variation assigned a numeric design type, Type 1 to Type 13, to make it easy for collectors.
The program of testing did not move forward beyond 1921. And the coins did not move into production. It is believed that over the three-year period two hundred pieces, of various designs, were produced.
We estimate that one hundred and fifty kookaburra coins are available to collectors. The best thing for collectors is that the one hundred and fifty coins do not bear the same design.
The Melbourne Mint tested many different styles of both obverse and reverse introducing enormous interest, personal choice and procurement challenges into the series.
Four variations on the one kookaburra theme were produced in 1919 and they are designated the Type 3, Type 4, Type 5 and Type 6 Kookaburra Pennies.
The Type 5 Kookaburra Penny has a unique kookaburra reverse design.
It is acknowledged that the Type 4 and Type 6 share the same kookaburra reverse. But the Type 5 has subtle differences that have often been overlooked. The kookaburra presents a slightly slimmer version to the Type 4 (and Type 6) with a shorter beak, that extends only as far as the 'L' in 'AUSTRALIA'.
The obverse is the same as the Type 3 and the Type 4 and was the last time the legend 'GEORGE V D. G. BRITT: OMN:REX' was used. The Type 6 introduced a new legend.
We have sold only three examples of the Type 5 Kookaburra Penny. The first in 2000, the second in 2009 that was later re-sold in 2021. And the third example sold in 2011. This will be the fourth.
Rarity - One of seven known. An example would be offered every four to five years.
Composition - Nickel 75% Copper 25%
Reverse - Kookaburra perched on a section of a tree branch, the word 'AUSTRALIA' sharply curved in large lettering, the penny denomination over two lines. The kookaburra presents a slightly slimmer version to the type 4 (and type 6) with a shorter beak that extends only as far as the 'L' in 'AUSTRALIA'. The tail has four feathers, the eye incuse. It is a design that is unique to the type 5 Kookaburra.
Obverse - Uncrowned effigy of George V, portrait reduced from a metal die supplied by Australian manufacturer, Stokes & Son and shared with the Type 3 and Type 4 Kookaburra Penny. The circular legend reads, GEORGE V D. G. BRITT: OMN:REX, the date appearing below the portrait with ornamental stops separating it from the legend.
The Melbourne Mint commenced striking Australia's Commonwealth copper pennies in 1919. No sooner had the mint started issuing coins, than it was directed by Treasury to commence testing an entirely new penny concept, a square coin made from cupro-nickel.
The Melbourne Mint was established in 1872, and was a producer of gold and silver coins and had just commenced production of bronze pennies in 1919. While new to the mint, the striking of nickel coinage as legal tender had been incorporated into the Commonwealth's Coinage Act of 1909 (No. 6 of 1909), passed after Federation.
The period 1919 to 1921, sits squarely in the post–World War I period, the first years of peace after immense war-time loss. And an experimental era when Australia was rebuilding its national confidence and defining its own national identity through design. Or through whatever means it could.
For many Australians, it was a time for breaking out, of questioning and changing old values and behaviour and enjoying the good life. It was a time of great change. People forgot the old and embraced the new in an attempt to leave the hardship and struggles of the war behind them. New technology was being created, like toasters and cars, things that today we take for granted. The fashion world was exploding, Australians embracing great change in their styles of dress.
Australians were identifying with their own culture, keen to lessen the emotional and cultural ties with Great Britain. The Government wanted to tap into this nationalistic sentiment and create a new, totally Australian coinage, the Kookaburra Penny and Kookaburra Halfpenny, envisaging coins that would be unique to Australia.
It was one of the instruments the Government believed would give us a greater awareness, and appreciation, of all things Australian. A mechanism to promote national spirit.
The proposal was contentious in that King George V was depicted on the obverse without a crown. It is noted that all coins struck under the newly formed Commonwealth of Australia depicted a crowned monarch.
Contentious also the use of the word 'Australia' in the design and not 'Commonwealth of Australia'. It was a hard road to Federation, uniting the six colonies under one banner, involving decades of negotiation and intense debate. Ultimately, the six separate British colonies united under the banner Commonwealth of Australia on January 1, 1901. Again it is noted that Australia's bronze pennies and halfpennies issued by the newly formed Commonwealth of Australia acknowledged the nation's federated status in the legend.
Trials commenced at the Melbourne Mint in 1919 and continued until 1921, the mint producing different designs, each a variation of the one theme of a kookaburra sitting on a branch and on the other side, an uncrowned portrait of George V. The test pieces ultimately passed to dignitaries and Government officials to assess their reaction.
The program of testing did not move forward beyond 1921. And the coins did not move into production. It is believed that over the three-year period two hundred pieces, of various designs, were produced, of which we estimate, one hundred and fifty are available to collectors.
There is no consensus as to why the coins did not move into production. The resignation in 1920 of Treasurer, William Watts, a supporter of the Kookaburra coinage did not impact on the program as his replacement Sir Joseph Cook was strongly in favour. That vending machines required a circular coin is also refuted as is the claim that it was unpopular with the general population.
Our view is that it was simply too soon in the national psyche.
While shaping our identity was politically expedient, uniting the states under the banner of Commonwealth of Australia was deemed a higher and more important priority. And the reality is the words 'Commonwealth of Australia' could never have been incorporated into the kookaburra design, given the size of the coins.
The quest to define Australia's national identity began with the Kookaburra Pennies and Halfpennies. It was Australia's first attempt at independent design in our coinage, a currency that was Australian in imagery, concept and form.
Transitioning to a more independent identity commenced in 1937/1938. And was extended in 1966, when Australia changed to decimal currency. On the five denominations, one, two, five, ten and twenty cent, the word 'Australia' appeared on the obverse and animals native to Australia appeared on the reverse.
For many collectors the fascination with the Kookaburra Penny and Halfpenny takes them on a journey to acquire more than one example. The coins are engaging and their rarity offers collectors the challenge they so often seek.
This 1931 Perth Mint Proof Sovereign is one of Australia’s high-value proof gold coins. And one of our most exclusive. A pivotal monetary decision by the Government, for Australia to go off the gold standard, saw the nation’s mints strike their last gold sovereign in 1931. This Proof Sovereign was struck at the Perth Mint as a numismatic commemoration of the end of the era of gold coining. The date ensures that the coin will always be relevant, for generations to come. That the issuing mint was the Perth Mint guarantees its exclusivity. The Perth Mint struck circulating sovereigns between 1899 and 1931 but struck proofs in only three of them (1899, 1901 and 1931). And in the most minuscule mintages. This 1931 Proof Sovereign is one of two examples, and the absolute finest of the two. The proofs of the Perth Mint are the crown jewels of coinage, adding glamour and exceptionality to any collection.
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This Proof 1931 Sovereign, struck at the Perth Mint, is a numismatic giant. And that status is reflected in its price.
There are key factors that influence coin values. Understanding those factors is essential to understanding why this coin is so highly valued. It's no different to real estate and appreciating why median values of suburbs such as Toorak in Melbourne, Point Piper in Sydney, Teneriffe in Brisbane and Peppermint Grove in Perth are the highest in their respective cities.
Values of Australian proof gold coins are shaped by a mix of date (and the historical significance of the date), exclusivity of the sector, the rarity of the coin (generally, 1, 2 or 3 pieces), the coin's quality. And its provenance. No single factor works on its own. It is the interaction of these factors that shape values.
Now let's evaluate the 1931 Proof Sovereign using the criteria detailed above.
1931 Proof Sovereign
struck at the Perth Mint
1931 Proof Sovereign
struck at the Perth Mint
Date - the date 1931 is historically significant for it was the year Australia ceased production of sovereigns as circulating currency. The date signifies the end of an era and ensures that the coin will always be relevant for generations to come.
Exclusivity of the sector - the Perth Mint had a miserly approach to striking proof coinage. Between 1899, when the mint opened, and 1931 when the last sovereign was struck, proof coinage was produced in just three years. Those proof production years were 1899, the year of its opening. Next came 1901, Australia's Federation year. (The coins of both 1899 and 1901, depicted the Veiled Head portrait of Queen Victoria.) And the final year of Australian gold sovereign production, 1931, when Australia ceased striking gold coins as currency (George V era). There were no proofs struck in between!
Three years that offer a total buying pool of seven coins. Conversely the Melbourne Mint struck proofs in twenty-three out of its sixty years of operation and the Sydney Mint nineteen, out of its seventy-nine years of production.
The market's reaction to this coin was clearly shown when it was first offered at Baldwins, London in 2012, as lot 878, the coin selling for £52,800, 32 per cent higher than its pre-sale upper estimate of £40,000. By comparison, a 1929 Melbourne Mint Proof Sovereign, a proof coin out of the same era, was offered with an upper pre-sale estimate of £40,000 and sold for £40,800.
Exclusivity of the sector ... cont'd - If we compare the two coins, the 1931 Perth Proof and the 1929 Melbourne Proof, there is no doubt that the year 1931 is considered more important historically than 1929. But the prime reason for the vast price differential was that the 1931 Proof Sovereign is a product of the Perth Mint. And is overwhelmingly rare and prestigious.
Rarity - there are two known examples of the Perth Mint Proof 1931 Sovereign. But if quality is a prime consideration, then this coin is unique, for the other known coin is impaired with imperfections in the fields. This coin is a gem proof, and a superb FDC.
Provenance - the provenance of this coin is supremely fitting. It was presented to John Agnew circa 1931. That a coin of such power and influence in the Australian gold coin market was originally owned by John Agnew somehow seems just right for he too was powerful and influential. A man of vision and remarkable knowledge of gold mining, Agnew was credited with making a major contribution to revitalise the Western Australian gold mining sector in the 1920s and 1930s and was Director of Consolidated Goldfields when he was gifted this coin.
Australia's Proof Gold Coinage
When the Royal Mint London or the British Museum requested a sovereign or half sovereign from an Australian Mint, they were never sent a circulation strike. Nor would a circulation strike be presented to the monarch, gifted to a dignitary or sent to an influential collector. And a circulation strike would not be displayed at a Colonial Exhibition.
An individually crafted presentation piece would be specially created for the occasion, minted to a proof or specimen finish. The technical term for such a piece is 'Coin of Record'.
A Coin of Record is an artistic interpretation of coinage, a strikingly beautiful coin beyond ordinary currency. Individually crafted to standards far exceeding that required of a circulating coin, using special coining techniques. Whereas production of circulating coinage was dictated by Government, Coins of Record were struck at the discretion of the mint master.
Coins of Record were not produced every year and, as they were individually crafted, the process was time consuming and the mintages minuscule. For gold proofs, generally ten pieces or less. There were several occasions when only a single coin was struck.
Coins of Record of Australia's sovereigns and half sovereigns are visually stunning, distinguished by brilliant golden-mirror surfaces. And it is their beauty and their ultra-exclusivity that drives demand.
Australia's gold proof coins moved onto the international stage when the collection of John G. Murdoch was liquidated via Sotheby, Wilkinson & Hodge in London in 1903, following his passing in 1902. Murdoch held an extensive collection of gold proofs, including coins featuring the Sydney Mint design, Young Head, Jubilee and Veiled Head design. The Melbourne Mint was well represented with both proof sovereigns and proof half sovereigns. And minor representation from the Sydney Mint and the Perth Mint.
The reputation of Australia's gold proof sovereigns and half sovereigns as an international commodity was set in stone in 1903, a widespread regard that holds to this very day, right across the globe. Recent international auction results, November 2021 and more recently in February 2026 confirm the status of Australia's gold proof coins as a globally traded commodity. And in particular confirm the price levels that Perth Mint proofs command.
The proofs of the Perth Mint are the crown jewels of coinage, adding glamour and exceptionality to any collection.
There is one other reason why the Proofs of the Perth Mint are so popular.
The Perth Mint is still producing coins; its narrative has not been confined to history. The mint is an on-going story with a collecting audience that is expanding through the production and export of decimal collector coins.
The Perth Mint’s commercial profile creates an environment whereby its earlier gold sovereign and half sovereign issues can be enabled and brought to life. Every time the Perth Mint opens its doors to welcome visitors, releases a new proof coin or celebrates an anniversary of its minting operations (as it did on 2024), we are reminded of a tradition of coining excellence that began in 1899.
Macquarie had high hopes for the Holey Dollar and Dump, and in particular the Dump. He stated that the Dump would fill the role of small change and would remove much of the need for promissory notes of low denominations. This coin certainly lived up to Macquarie’s expectations for it is well used. At the same time it is a very pleasant and collectable example of the nation’s first coin. A well centred strike, the crown prominent, extensive under-type on the reverse. And well-priced.
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The Holey Dollar, and the Dump, are the nation’s first coins, minted in 1813 by order of Governor Lachlan Macquarie.
The issuing of Australia’s first coinage symbolised the changing dynamics of the penal colony of New South Wales. The colony had started out in 1788 as a jail, a repository for convicts, under the governorship of Captain Arthur Phillip. It had emerged some twenty-five years later as a thriving economy requiring a formal medium of exchange to support a burgeoning commercial hub.
As Macquarie had no access to metal blanks to create his currency, he improvised and acquired 40,000 Spanish Silver Dollars as a substitute.
To make his new coinage unique to the colony, and to inhibit their export, he employed emancipated convict William Henshall to cut a hole in each silver dollar.
Each holed silver dollar was then counterstamped on both sides, around the edge of the hole. On one side, the date 1813 and the issuing authority of New South Wales. And on the other side, the value 'Five Shillings' with some decorative embellishments. It became the Holey Dollar.
The silver disc that fell out of the hole was also overstamped with a crown, the issuing authority of New South Wales. And on the other side the value of Fifteen Pence. It became the Dump.
1813 Dump Type A/1
1813 Dump Type A/1
1. A coin to enjoy and show around
Struck with the A/1 dies, the crown is classically well-centred. The design details, the crown with its fleur-de-lis and pearls, the legend New South Wales, the date 1813 and on the reverse, the value Fifteen Pence are all legible.
2. Evidence of the original Spanish Dollar design
The design detail of the original Spanish Dollar from which this Dump was created is evident on the fifteen pence side of the Dump. We refer to it as the under-type and it is not always present. Its existence re-affirms the origins of the Dump and is highly prized.
3. Henshall's claim to fame - the elusive 'H' on the reverse
William Henshall declared his involvement in the creation of the Dump by inserting an 'H' into some (but not all) of the dies used during its striking. And on a well circulated Dump, the 'H' will not generally be prominent. But, using an eye-glass on this coin, you can see where the 'H' was located between the 'FIFTEEN' and the 'PENCE' on the reverse.
4. Oblique milling
There is evidence of the oblique milling. It was used as deterrent against clipping whereby the unscrupulous shaved off slivers of silver, reducing the silver content of the Dump. And making a small profit on the side.
Coinworks has a substantial numismatic library with books dating back to the 1900s, the catalogues yielding vast quantities of historical price/rarity information. There is a point at which auction houses commenced, and continued, featuring photographs on their front and back covers and they are also informative. It’s a space that is reserved for the most important, the rarest or the most topical. It’s certainly not a space that is allocated to anything trivial. This is perhaps the simplest way of conveying the importance of the 1920 Star Shilling to the industry. When it was offered by London firm Morton & Eden in June 2006, it was the sole front cover item of their catalogue.
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Rarity and circumstance have made the 1920 Star Shilling one of Australia's greatest coin rarities.
In 1920, wildly fluctuating silver prices posed a serious issue for Governments, such as Australia, that were striking their coins in .925 fine silver. The possibility that the intrinsic value of the florin, shilling, sixpence and threepence would exceed their face value was a real one and the Australian Government pondered a debasement of its coinage (to .625 and .500 fine) to lower the costs.
The florin and shilling dies were prepared at the Royal Mint London with a star above the date to indicate a reduced metal content. Seven florins and seven shillings were produced at the Melbourne Mint as part of a specially controlled circulation strike and each coin featured a star above the date.
That the strike was controlled is reflected in the depth of detail of the coins, their denticles and their smooth surfaces.
Distribution of these prized pieces was heavily restricted. Influential collector Albert Le Souef, (a Deputy Master of the Melbourne Mint between 1921 and 1926), obtained one of each of the florin and shilling. Three examples were retained by the mint with three heading to London, the Royal Mint the main recipient.
Aside from Le Souef's coin, a further two have since emerged in the private sector. The first sold late in 1988 on behalf of the Melbourne Mint museum through an Australian auction house, the mint selling off a duplicate as part of a fundraising exercise. The second is this coin, sold by British Auction House Morton & Eden, in London, 27 June 2006 as Lot 322.
George V, shilling, 1920 M, with star above the date, struck in .925 fine silver at the Melbourne Mint
George V, shilling, 1920 M, with star above the date, struck in .925 fine silver at the Melbourne Mint
The 1920 Florins and 1920 Shillings, showing the star above the date, were prepared as a result of a sudden rise in the price of silver that caused Great Britain and many other countries to reassess the silver content of their respective currencies.
Britain abandoned around 800 years of tradition when it reduced the finesse of its Sterling silver (92.5% pure) coins to an alloy of 50%. Canada also moved from the 92.5% standard down to 80% while British West Africa dropped silver issues completely in 1920 in favour of nickel and nickel brass coins.
Australia considered a similar move but in a gesture which cynical taxpayers of today would find very refreshing, the government wanted the public to be completely aware that the new coins would contain less silver.
According to the former numismatic curator of the Museum of Victoria, John Sharples, the normal order for 1920 dies for the silver coins had been placed in July 1919. At that time the intrinsic worth of the silver was less than the face value of the respective denominations and so no special instructions were issued in respect to the dies being prepared by the Royal Mint in London.
However, by March 1920 the situation had changed drastically. According to John it was decided to prepare new dies which featured smaller date figures to differentiate the debased coins from the earlier issues.
Judging from correspondence that came back from London, it would appear that the mint had already started work on the dies or was too busy with other projects. A suggestion came back that a star above the date would not only be more noticeable but could be produced more easily and quickly than reworking the date.
This change was accepted by Melbourne and working dies for 1920 and punches for 1921 were ordered with the star. By August 1920, the Melbourne Mint had received thirty pairs of working dies for the florin and shilling denomination.
By the time everything was in place the silver crisis had passed. The silver price dropped, and Australia did not proceed with a debasement of its coinage.
Even so, no 1920 dated florins were issued for circulation.
Three other denominations were however struck for circulation in 1920, the shilling, sixpence and threepence. None carried the star. On some of the 1920 shillings (and even the sixpences) a small indentation above the date can be seen in high-grade coins, where the star has been removed on the die.
Strangely enough, the 1921 shilling still carried the star, although the silver crisis had long passed.
The year nineteen-twenty has produced some of Australia's greatest coin rarities, and this 1920, Type 7 Kookaburra Penny is one of them. Twelve coins out of the original mintage survive today. And this example is stunning.
Coins capture the mood of a nation, and so it was with the Kookaburra Penny and Halfpenny produced between 1919 and 1921. A post-World War I period and the first years of peace after immense war-time loss. And an experimental era when Australia was re-building its national confidence and defining its own national identity through design. The kookaburra coins were trailblazers. They pushed the boundaries of traditional design practices, using a 'never-tried before' design concept of depicting wildlife unique to Australia. And introduced an innovative material of cupro-nickel. Avant-garde and provocative, the term ‘Commonwealth of Australia’ was replaced with the single word ‘Australia’ and while the effigy was required for legal tender status, the monarch was depicted without a crown.
The historical significance of the kookaburra coins cannot be overstated.
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We have a four-point check-list for evaluating a Kookaburra Penny that involves the date, design type, quality and price.
1. What is the date?
For the Kookaburra Pennies were struck in 1919, 1920 and 1921.
Our comments:
The year 1920 is a stand-out year as far as the industry is concerned as it hosts some of the rarest and most famous coins of the Australian numismatic industry: the 1920 Star Florin, Australia's rarest florin, one of Australia's most valuable shillings, the 1920 Star Shilling. And Australia's most valuable sovereign, the 1920 Sydney Mint Sovereign. And, of course, the 1920 Kookaburra Pennies.
2. What is the design type?
While all Square Pennies are rare, some designs are far rarer than others. But, as you would expect, with that rarity comes a higher price tag.
Our comments:
The Type 7 is extremely rare with an estimated twelve examples available to collectors. We might see a Type 7 on the market every eighteen months to two years. We note that Australia's largest auction house last sold a Type 7 in 2016!
3. What is the quality?
The Square Pennies were test pieces and were not struck to the heady controls of a proof striking. As the coins were passed to the public for opinions and comments, some have been mishandled.
Our comments:
Some Kookaburra coins are so rare, that quality almost becomes irrelevant. But in cases such as the Type 7 which would become available a few times in a decade, quality can be considered. This coin is superb for quality. Take it through the light and you would be forgiven for thinking that it was minted to proof quality, the fields are like mirrors. And it is well struck, the details in the legend, portrait and the kookaburra are strongly three-dimensional. Could you improve upon the quality of this coin? We doubt it!
4. What is the price?
Given its quality assignation of Choice Uncirculated and its rarity, the 1920 Type 7 Kookaburra Penny is priced to market at $65,000.
Our comments: This 1920 Square Penny is priced at the same level as a high quality Very Fine 1930 Penny and yet is far, far scarcer.
Summary statement.
The Type 7 1920 Kookaburra Penny is extremely rare and is the most popular of those dated 1920. And a Coinworks all-time favourite.
Choice Uncirculated, 1920 Type 7 Kookaburra Penny • Price $65,000
The year 1920 is the glamour year of the industry and the glamour year of the kookaburra coin series.
The collector that wishes to acquire a 1920 Kookaburra Penny has four options, the Type 7, Type 8, Type 9 and Type 10. The decision about which coin to acquire will most certainly be influenced by availability. And perhaps price.
The Type 7 Kookaburra Penny is the most available of the 1920 designs. That is not a criticism. Simply a statement of fact. For the Type 7 is still extremely scarce with a waiting time of perhaps eighteen months to two years for an example to come onto the market.
But a collector could realistically be looking at a waiting time of six to ten years, or more, for another design type dated 1920. A time lag that would exasperate even the most patient of buyers.
Extremely rare, and yet available within a reasonable time frame are the prime reasons why the Type 7 is the most popular of those dated 1920.
There is no doubt that the Melbourne Mint utilised different finishes with each coin type, and in each year. Our comment is that a superb Type 7 is a coin to behold! Proof-like and mirror fields and this coin is no exception.
Rarity - one of twelve known. We estimate an example would be offered every two to three years.
Composition - Nickel 75% Copper 25%
Reverse - A kookaburra with coarse plumage resting on a branch, the eye struck in relief, the tail with three feathers. The word 'AUSTRALIA' is curved, the letters large and well spaced, the penny denomination over two lines. A reverse that is shared with the Square Legend Type 9 and the Crowned Head Type 10
Obverse - Uncrowned effigy of George V, portrait prepared by Australian artist, Douglas Richardson, the portrait with a distinctive central part in the hair. A design shared with the Square Legend Type 9 Kookaburra Penny. The circular legend reads GEORGIVS D. G. BRITT: OMN:REX, the date '1920' appearing below the portrait, separated from the legend by ornamental stops.
'The Sir Marcus Clark' Aborigine Threepence is the earliest numismatic depiction of an indigenous Australian. Struck in silver in 1860, and this example, almost proof-like and the finest of eight known examples. It is a truly remarkable piece of Australiana that is easy to get emotional about. And it's pretty obvious when you look at its auction performance over the last seventy-plus years that many a collector/bidder has got emotional about it. The piece has consistently exceeded expectations on the three occasions it has made a public appearance.
The Aborigine Threepence was created in 1860 by colonial silversmiths Hogarth & Erichsen who arrived in the colony as free-settlers in 1852. The works of Hogarth and Erichsen are revered and are held by the following institutions, to name but a few. The National Library of Australia, Canberra, The National Gallery of Australia, Canberra, The National Gallery of Victoria, Melbourne and The Powerhouse Museum, Sydney.
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You know what you are getting when you acquire the Sir Marcus Clark Aborigine Threepence. It is a piece that promises, and delivers, an experience. In essence, it is a brand.
The development of a brand starts with an extraordinary quality coin. And then a great collector moves into the picture adding his/her name to the provenance, thereby firming its standing and establishing its reputation.
That great collector was Sir Marcus Clark KBE.
The first public appearance of the Aborigine Threepence occurred in July 1954 when James R. Lawson Auctioneers sold the collection of the late Sir Marcus Clark KBE.
The Aborigine Threepence was placed in the sale alongside his Holey Dollar and Dump, such is the respect with which it is held.
The results out of the 1954 Lawson auction are fascinating. The Aborigine Threepence fetched £38, twice that of the Sir Marcus Clark Dump that sold in the same auction for £18 and that we recently sold for $95,000.
The Marcus Clark Aborigine Threepence was auctioned again twenty-seven years later, and in a fiercely contested bidding war, sold for $23,000 on a pre-auction estimate of $12,500.
Its last auction appearance was in 2005, offered by Noble Numismatics, the piece selling for close to $100,000 on a pre-sale estimate of $75,000.
1860 Aborigine Threepence
ex Sir Marcus Clark
1860 Aborigine Threepence
ex Sir Marcus Clark
The 1860 Aborigine Threepence was minted by jewellers Julius Hogarth and Conrad Erichsen. Eight examples survive today, the Sir Marcus Clark specimen, the absolute finest known.
Scandinavian citizens, Hogarth was a sculptor and silversmith. Erichsen an engraver.
Both migrated to Australia to make their fortunes on the gold fields reaching Sydney on 11 December 1852. Failing to realise their ambitions, they utilised their skills and went into partnership as silversmiths opening their first enterprise at 255 George Street Sydney.
The firm quickly gained a reputation in the development of ‘Australiana’ themed decoration on metalwork and jewellery, which actively promoted the use of indigenous Australian floral and faunal elements and indigenous figures. Hogarth & Erichsen achieved great success during the 1850s notably through the vice-regal patronage of Governors Young and Denison.
The works of Hogarth and Erichsen are revered and are held by the following institutions, to name but a few.
• The National Library of Australia, Canberra
• The National Gallery of Australia, Canberra
• The National Gallery of Victoria, Melbourne
• The Powerhouse Museum, Sydney
Hogarth & Erichsen were numismatic trailblazers when in 1860 they created the Aborigine Threepence.
It would be another one hundred and twenty-eight years before Australia would acknowledge the contribution of Aboriginal Australians to our society when a portrait of a tribal elder appeared on the nation's Two Dollar coins created especially for the Bicentenary in 1988.
The Sir Marcus Clark 1860 Aborigine Silver Threepence
Price: $105,000
The Sir Marcus Clark Aborigine Threepence is the earliest numismatic representation of an indigenous Australian.
Struck in silver, and this example, almost proof-like.
It is a truly remarkable piece of Australiana that is easy to get emotional about. And it's pretty obvious when you look at its auction performance over the last seventy-plus years that many a collector/bidder has got emotional about it. The piece has consistently exceeded expectations on the three occasions it has made a public appearance.
This Queen Elizabeth II, 1953 Presentation Set is comprised of five coins, the penny, florin, shilling, sixpence and threepence. Each piece was struck to specimen quality to launch the new portrait of the just-crowned Queen, in her coronation year. The sets were struck to order, the request placed by the Chase Manhattan Bank in New York for their Currency Museum and only twelve sets were produced.
This set is historically important. It the only Australian coin issue produced in 1953 to mark the coronation of Queen Elizabeth II. Paradoxically, the entire mintage was exported overseas. No sets were struck for the Australian collector market outside of those struck for the Chase Manhattan Bank. And only a few sets have managed to make their way back from the US to their country of origin.
Five Queen Elizabeth II Presentation Sets are known, four of which have been offered at auction, the first sighting at Spink & Son Auctions, Melbourne 1975. A set was more recently offered at auction in November 2001, where it sold for $39,000 on a pre-auction estimate of $18,000. Testimony to its scarcity, this particular set last changed hands in 2002.
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The 1953 Queen Elizabeth II Presentation Set is an extremely rare coin issue with only twelve units produced, exported in its entirety to the Chase Manhattan Bank in New York for their Currency Museum.
The set also is extremely rare in the context of the series to which it belongs. The issue was produced on a commercial basis, struck to order for Queen Elizabeth's coronation in 1953 and was sold to the bank in New York.
The Royal Australian Mint's release of decimal coin sets every year may have some collectors believing that pre-decimal sets were produced with the same regularity. And in the same quantities.
The reality is, over the period, 1916 to 1953 there were only four years in which the Melbourne Mint produced coin sets on a commercial basis. The year '1953' is one of the four.
The Melbourne Mint in William Street was opened in 1872 as a branch of the Royal Mint London to strike Australia's gold sovereigns and half sovereigns. The mint diversified its coining repertoire in 1916 when it was commissioned by Treasury to strike Australia's Commonwealth silver coinage. As the servant of Treasury, the Melbourne Mint became a prolific producer of coins for circulation.
The notion of producing limited edition pieces for collectors was not on the mint's agenda and over the next four decades (1916 to 1953) the Melbourne Mint produced only four complete sets of coins to sell to the public.
• 1916 George V Specimen Set
Commemorating the inaugural striking of the Commonwealth's silver coinage at the Melbourne Mint. Only seven sets (in their original presentation case) have been offered over the last fifty years.
• 1934 George V Proof Set
The only Proof Set struck for King George V. Only ten sets have appeared at public auction over the last fifty years.
• 1938 George VI Proof Set
A reflection of the numbers struck, the George VI 1938 Proof Set is slightly more readily available with twenty sets sighted on the open market. Many of these have now been broken up and sold off as individual coins.
• 1953 Queen Elizabeth II, Presentation Set
The rarest by far of the commercial sets struck at the Melbourne Mint with only five known sets.
Click on each icon for enlarged obverse and reverse photographs & descriptions.
This J. J. Ford 1813 Dump is a remarkable piece of colonial history. At About Uncirculated, it is extraordinary and is the only known D/2 Dump at this quality level. There are none of a higher quality. Quite remarkable when you consider that the Dump was the workhorse of the colony.
This Dump was offered in 2004, at Stacks, New York, opening auction of the year. Viewed as the passive partner to the higher denomination Holey Dollar, the coin, forced a market-rethink about the status and the price at which top quality Dumps can - and should – command. The coin cemented its position as the finest known and put top quality 1813 Dumps 'on the map' on a worldwide scale breaking the $100,000 barrier for the first time ever.
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Ranked number one!
A pecking order exists amongst top echelon Colonial Dumps. This particular example, with a quality level of About Uncirculated, ranks as Number 1 of the surviving D/2 examples. The Dump with a value of fifteen pence circulated widely in the colony, the extreme wear on most Dumps evidence that they saw considerable use. Not so with this Dump. In the hand the coin is stunning, its state of preservation simply miraculous. The fields are highly reflective with grey/blue toning, the coin mint fresh for quality.
Under the eye glass, the coin continues to shine. We note the horizontal line that makes up the cross on the orb at the top of the crown. And the smudging of the vertical line. Most collectors would not even be aware that, as with the 1852 Adelaide Pound, the Dump design includes a cross on the orb at the top of the crown.
And there is a 'stop' in the legend 'NEW SOUTH WALES' after 'NEW' and after 'SOUTH'. The dies would have had shallow depressions to create the stops and must have quickly filled with debris for they can be difficult - or impossible - to discern on even the best of D/2 examples.
There is no doubt that heat was involved in the creation of the Dump. When the disc fell out of the centre of the Spanish Dollar, it still bore the original dollar design of a four quadrant shield, depicting a lion and castle in each quadrant. High temperatures obliterated the original Spanish Dollar design from most Dumps.
This Dump has extensive evidence of the original Spanish Dollar design on the reverse. That evidence includes the base of the crown, the cross-bars of the four quadrants in the shield and the remnants of the castle and lion in each quadrant. Its sizeable and its impressive.
While the method of manufacture of the nation's first coins is unknown, history records that convicted forger and emancipist, William Henshall, was hired to create the nation's first currency. Effectively our first Mint Master. Henshall declared his involvement in the creation of the Dump by inserting his initial, an 'H' for Henshall, on some - but not all - of the reverse dies of the Dump. The 'H' for Henshall is rarely seen in D/2 examples. And even when it is sighted it can only be described as a 'blob'. The 'H' for Henshall is present on this coin and is shaped. Quite amazing!
An 1813 Dump to be savoured
The buyer of this 1813 Dump will take pride in knowing that the coin was formerly held as part of the legendary J. J. Ford Collection.
High profile collectors are noted for holding only the very best. John J. Ford was a major force in numismatics in the USA for 68 years both as a professional numismatist and a consummate collector. That this coin was part of the J. J. Ford Collection speaks volumes to its calibre.
The buyer will also take pride in knowing that this Dump has been exhibited twice, in 2013 at the Macquarie Bank exhibition. And in 2019, at the Royal Australian Mint Canberra, in the 'All That Is Holey' Exhibition.
The coin was a natural contender for inclusion in the exhibitions. It was struck from the very rare D/2 dies. And with a quality grading of About Uncirculated is clearly the best.
Historians have determined that four individual dies were used in the striking of the 1813 Dump. The A/1 Dump is the most frequently sighted (75% of cases). Next in line for availability is the D/2 dies (20%). Then comes the C/4 and E/3 dies that while incredibly rare, produced coins that were extremely crude.
This coin is an exceptional piece for it has design detail and shows a finesse in the striking that is not normally seen in the D/2 type. Historians argue that the D/2 design types were most likely the first coins produced, since the majority of specimens reflect one major design characteristic. The legend and the date tend to be partially struck because the dies were too big for the blank. And the denticles (introduced as a security measure) are almost always absent. On this Dump, however, the legend and the date are well contained in the coin and the partial denticles are crisp and clear.
1813 Dump Type D/2, About Uncirculated, ex J. J. Ford Collection, $165,000.
About Uncirculated 1813 Dump ex J. J. Ford Collection
About Uncirculated 1813 Dump ex J. J. Ford Collection
The horizontal line that makes up the cross on the orb at the top of the crown is present. Amazing!
This coin shines under an eye glass. We note the horizontal line that makes up the cross on the orb at the top of the crown. And the smudging of the vertical line. Most collectors would not even be aware that, as with the 1852 Adelaide Pound, the Dump design includes a cross on the orb at the top of the crown. (See close-up above.)
Henshall declared his involvement in the creation of the Dump by inserting his initial, an 'H' for Henshall, on some - but not all - of the reverse dies of the Dump. The 'H' for Henshall is rarely seen in D/2 examples. And even when it is sighted it can only be described as a 'blob'. The 'H' for Henshall is present on this coin and is formed. Quite amazing! (See close up below.)
The 'H' for Henshall is present on this coin and is formed. Again, quite amazing!
The period 1918 to 1921 produced three of Australia's greatest coin rarities, the 1918 Trial Shilling (this coin), the 1919 Trial Shilling and the 1920 Star Florin. The price of silver was fluctuating wildly at the time and, despite being a silver producing nation, Australia was rocked by the price rise and forced to reassess the silver content of its currency. The Melbourne Mint began testing a reduced silver alloy (.500 fine and .625 fine) and the 1918 Trial Shilling was struck as a consequence. While three examples of the 1920 Star Florin are available to collectors and two of the 1919 Trial Shilling, this is the only example available to collectors of the 1918 Trial Shilling. Its first recorded owner, Mr A M Le Souef, a former Deputy Master of the Melbourne branch of the Royal Mint London. The coin was considered so important that when a second example came to light in 1991, and was offered at Spink Auctions Australia, it was acquired by the Museum of Victoria for their collection, where it is still held.
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The 1918 Trial Shilling is a product of a period of serious financial and economic turbulence that saw nations around the world abandon sterling silver as their currency standard.
The fluctuations particularly affected governments like Australia that were still producing their currency in .925 sterling silver. The possibility that the intrinsic value of a coin would exceed its face value was a real one. The Government pondered a debasement of its coinage to lower the costs.
The Government's strategies for coping are well documented in historical records. It is also documented by way of Australia’s coinage.
The Government planned to adopt a new silver coinage alloy and in 1918 began a testing period of striking coins with a reduced silver content.
Consideration was given to a .625 alloy and one struck in .500 fine as taken up by the British during the precious metal crisis.
Unique 1918 Shilling, struck in .500 fine silver.
Unique 1918 Shilling, struck in .500 fine silver.
The Government planned to adopt a coinage with a reduced silver content and between 1918 and 1920 the Melbourne Mint undertook a testing program in which the following coins were produced.
The 1918 Shilling
• The testing of a reduced silver alloy commenced in 1918 with the striking of this 1918 Shilling. Struck in .500 fine from the currency dies, the reverse die was punched in the field with two irregular stops on either side of the date.
The 1919 Shilling
• Australia’s rarest Commonwealth coin was created during this testing process, the 1919 Pattern Shilling. The coin was struck in a .625 fine and counter-stamped with two ‘S’s on both sides of the obverse and reverse fields so that it would be easily distinguished and to prevent it from accidentally going into circulation.
The 1920 Star Florin & 1920 Star Shilling
• The Australian Government pursued the testing of alternative alloys into 1920. Dies were ordered, the design to include a star above the date, to reflect a coin with a reduced silver content. To test the dies, seven trial 1920 florins were minted each bearing the distinctive star (Three are held in private hands). The testing continued with the striking of seven star shillings, three of which are privately held.
While the Government dithered about the impending debasement of its coinage, the years passed and precious metal prices settled. There is no doubt that Australia weathered the storm concerning the silver crisis of 1920.
The nation, however, was not so fortunate in 1945 and 1946 when the price of silver was again booming. The year 1946 heralded in a new order for Australia. The nation's florins, shillings, sixpence and threepences were issued in a reduced silver quarternary alloy.
Unique 1918 Shilling, struck in .500 fine silver from the currency dies, the reverse die was punched in the field with two irregular stops on either side of the date.
$50,000
Unique 1918 Shilling, struck in .500 fine silver from the currency dies, the reverse die was punched in the field with two irregular stops on either side of the date.
$50,000
This 1852 Adelaide Pound is ascribed the higher quality ranking of Choice Uncirculated and is one of the top examples of the nation’s first gold coin. The addition of the word ‘choice’ takes a coin to a quality level rarely seen when discussing circulating currency and one of the highest quality rankings available to collectors. To warrant such a grading the coin has to be brilliantly preserved with lots of eye appeal. And the strike has to be powerful. This Adelaide Pound has both. The coin retains its original brilliance and is highly lustrous. The reverse in particular is quite magnificent. And the design has been brilliantly executed, the edges strong all the way around and the legend well defined, again all the way around (notorious areas of weakness in most Type II Adelaide Pounds). The crown has supremely-fine detail. The Adelaide Pound is a coin that will always be in favour. It is ‘gold’ after all, one of our most popular collecting metals. The coin appeals to all age-groups, including the younger generation, and that augurs well for its future. (Photo shown above, Sir Henry Edward Fox Young, Governor of South Australia, 2 August 1848 until 20 December 1854.)
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The Adelaide One Pound is the nation’s first gold coin, struck in 1852 at the South Australian Government Assay Office, Adelaide.
Local jeweler and engraver Joshua Payne created the dies for the nation's first gold coins.
The obverse declared the issuing authority, Government Assay Office Adelaide, encircling a crown and the date, 1852, the design used continuously throughout production. The reverse declared the fineness and weight encircling it's value.
With its fine design detail, the Adelaide Pound is compelling and a piece of significance, its status as the nation's first gold coin ensuring that it will never be forgotten.
And it is extremely rare with less than forty examples surviving from the first production run and perhaps two hundred and fifty from the second.
Either first or second run, the Adelaide Pound is a prized possession, an iconic gold coin revered by local and international buyers.
1852 Adelaide Pound Type II
1852 Adelaide Pound Type II
History records that disaster struck during the early stages of the minting of the 1852 Adelaide Pound. Die-maker and engraver Joshua Payne later confirmed that staff had struggled to find the correct pressure levels to exert on the dies to execute a strong overall design.
In the early stages of production, pressure was applied to the edges to ensure that the denticles and legend were strong. The downside to this decision is that excessive pressure applied to the edges cracked the reverse die, forcing an interruption to minting. The upside to this decision is that Adelaide Pounds struck during the first production run have almost picture-perfect edges and beautiful strong denticles.
Relaxing the pressure on the dies in the second production run, lengthened the die usage but created its own shortcomings. Once the pressure was reduced on the edges, the perfection that was achieved in the denticles and legend in the first run of coins was simply not achievable in the second run.
Adelaide Pounds from the second production run notoriously have weakness in the edges and weakness in the legend, most particularly in the Assay Office area. And this is noted in about nine out of every ten examples. But, the crown design will invariably be well executed with flattened areas mainly due to circulation. (Flattened areas may also reflect die usage and be due to a poor strike.)
Supremely fine detail in the crown.
Strength in the legend and edge.
This Type II 1852 Adelaide Pound has a beautiful balance of strong edge denticles, strong legend and a brilliantly struck crown. (See above.) It is the exception to those most frequently sighted and was formerly held by the owner of the famous Nobleman 1852 Adelaide Pound Type I.
Choice Uncirculated 1852 Adelaide Pound struck using the second reverse die featuring a scalloped inner border (Type II)
Price: $75,000
This 1852 Adelaide Pound is ascribed the higher quality ranking of Choice Uncirculated and is one of the best examples of the nation’s first gold coin.
The addition of the word ‘choice’ takes a coin to a quality level rarely seen when discussing circulating currency and one of the highest quality rankings available in numismatics.
To warrant that grading the coin has to be brilliantly preserved with lots of eye appeal. And the strike has to be powerful.
This Adelaide Pound has both.
The coin retains its original brilliance and is highly lustrous. The reverse in particular is magnificent. And the design has been brilliantly executed, the edges strong all the way around and the legend well defined, again all the way around (notorious areas of weakness in most Type II Adelaide Pounds). The crown has supremely-fine detail.
The Adelaide Pound is a coin that will always be in favour. It is ‘gold’ after all, one of our most popular collecting metals. The coin appeals to all age-groups, including the younger generation, and that augurs well for its future.
This 1927 Proof Canberra Florin is distinguished by a strong strike, brilliant mirror fields and magnificent emerald-green toning. Ex Barrie Winsor, February 2000, when it was sold to Marcus Plunkett to form part of the Treasures Collection. The coin is exceptional and is one of the few proof Canberra florins available today that is offered with a detailed provenance. And if you think the reverse looks great, wait until you see the obverse. The portrait of King George V almost leaps out of the coin!
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If we asked collectors to name the top five most popular and recognised Australian rare coins, without doubt the 1930 Penny would be at the top of the list.
But, the 1927 Proof Canberra Florin would, in all likelihood, be at position number two.
It is a coin that resonates with all Australians and for many collectors it's not a matter of 'if' I will buy a Proof Canberra Florin, it's 'when' I will buy one.
1. The coin has genuine rarity
While Melbourne Mint records show a mintage of 400, it is generally accepted that the issue did not sell-out, the proposed mintage too optimistic for the size of the collector market at the time. And non-collectors baulking at having to pay a premium over face value to acquire the 'proof'! The unsold coins were melted down, the mintage believed to be as small as 150.
The proofs were gifted to politicians and sold to the 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 1927 Proof Canberra Florin can be a minimum of two years. Perhaps even longer.
2. The coin is 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. The coin has 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 1927 Proof Canberra Florin "arguably Australia's most attractive predecimal silver coin". We can only agree. The reverse of 'Old Parliament House' was designed by George Kruger-Gray.
4. The coin has value and, over the long term, appreciating value
An analysis of auction realisations over the past forty years, confirms the 1927 Proof Canberra Florin is extremely scarce. On average one pristine example is offered every few years. We also note the coin has enjoyed solid price growth. In the 1980s, a Proof 1927 Canberra Florin was selling for approximately $1000 - $1500 at auction. In the 1990s the coin was fetching betwen $4000 - $6000. Two decades later, top quality Proof Canberra Florins are commanding prices in excess of $20,000.
1927 Proof Canberra Florin
• stunning emerald colours •
1927 Proof Canberra Florin
• glass-like surfaces •
This Proof Canberra Florin is worth owning!
Using the naked eye, move the coin through the light, allowing it to reflect off the fields. Both obverse and reverse fields are brilliant, highly reflective. It is as though you are looking at a mirror.
• The emerald-green toning is magnificent!
• The edges are intact and solid.
• Under a magnifying glass we note, the striations, between the 'ONE' in the legend and the oval containing the date 1927. They are strong.
• 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. And the three parliamentary steps are present!
• The fields are impressive. Amazing for a coin struck nearly a century ago. Our comment here is that the coin's former owners have always respected and cherished its quality for its state of preservation is remarkable.
1927 Proof Canberra Florin minted for one of the most significant events in Australia’s journey to nationhood, the opening of the first Parliamentary buildings in the national capital, Canberra.
Price: $22,000
This 1927 Proof Canberra Florin is distinguished by a strong strike, brilliant mirror fields and magnificent emerald-green toning. Ex Barrie Winsor February 2000 when it was sold to Marcus Plunkett to form part of the Treasures Collection.
The coin is extraordinary and is one of the few Canberra florins available today that is offered with a detailed provenance.
Exhibited at the Melbourne Mint, Williams Street Melbourne, 29 November 2011 in the launch of the Treasures Collection.
This 1813 Holey Dollar was created from a silver dollar that was minted at the Potosi Mint in Bolivia. 'Potosi' makes it a big deal! This is a mint that is very rarely seen.
Of the two hundred Holey Dollars available to collectors, only fifteen were converted from silver dollars struck at the Potosi Mint in Bolivia. And if you look closely at the fifteen, only five are known in the upper quality levels, of which this coin is one. (By comparison almost one hundred and fifty were created from silver dollars produced at the Mexico Mint, located in the silver-rich colony of Mexico.)
This Holey Dollar is high quality. And this Holey Dollar is extremely rare. Offered in Amsterdam in 1910, it is yet another top Holey Dollar that has returned to its country of origin from Europe over the last century.
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A Holey Dollar that is extremely rare quality-wise.
Macquarie's order for Spanish Silver Dollars was fulfilled by the East India Company in Madras, and was not date specific or quality specific. Macquarie simply wanted coins.
An analysis of surviving examples confirms that the majority of Holey Dollars are well worn. The analysis also confirms that a Holey Dollar at Very Fine is a well above average example (refer chart).
We like the price point at which this Holey Dollar is offered. In our view, the range of $100,000 to $200,000 offers excellent value for your investment dollars.
At this price level, a Holey Dollar will look good to the naked eye, relatively untouched. And the major design detail will still be relatively sharp.
We particularly notice with this coin, there are no harsh knocks, gouges or weaknesses in the metal (which so often occurred when Henshall hammered out the hole).
Good/Fair • Akin to a washer
AF - AVF • About Fine to About Very Fine
VF • Very Fine
GVF • Good Very Fine
NEF • Nearly Extremely Fine
EF or better • Extremely Fine to Uncirculated
Quality of silver dollar: Very Fine
Quality counter stamps: Good Very Fine
Counter stamp dies: II/4: B/4
Potosi Mint, identified by the PTS monogram in the legend on the reverse said to be the inspiration of the '$' sign
The defining quality of this Holey Dollar is that it was created from a Spanish Silver Dollar that was struck at the Potosi Mint. The Potosi Mint being the key here.
Macquarie's order for Spanish Silver Dollars was fulfilled by the East India Company in Madras, and was not date or quality specific. No did he care which mint they came from. The dollars were sourced from various mints around the world, each with a different identifying mark. The percentage of Holey Dollars converted from the mints in Mexico, Lima, Potosi and Madrid are noted here.
• Holey Dollars converted from Mexico Mint dollars - 81 per cent
• Holey Dollars converted from Lima Mint dollars - 10 per cent
• Holey Dollars converted from Potosi Mint dollars - 8 per cent.
• Holey Dollars converted from Madrid Mint dollars - 1 per cent
1813 Holey Dollar created from a Spanish Silver Dollar that had been struck at the Potosi Mint, Bolivia, in 1801 (Mira/Noble 1801/5, Spalding 99).
Price: $165,000
Design type: 5 (Charles IV legend and portrait)
Date of the silver dollar: 1801
Reigning monarch: Charles IV (1788 - 1808)
Portrait: Charles IV
Legend: Carolus (Charles) IIII
Mint and mint mark: Potosi Mint, identified by the PTS monogram in the legend on the reverse said to be the inspiration of the '$' sign.
Quality of silver dollar: Very Fine
Quality counter stamps: Good Very Fine
Counter stamp dies: II/4: B/4
More information on the 1813 Holey Dollar
The Holey Dollar is the nation’s first coin, minted in 1813 by order of Governor Lachlan Macquarie. As Macquarie had no access to metal blanks to create his currency, he improvised and acquired 40,000 Spanish Silver Dollars as a substitute.
To make his new coinage unique to the colony, he employed emancipated convict William Henshall to cut a hole in each Spanish dollar. Each holed dollar was then over-stamped on both sides around the edge of the hole. On one side, the date 1813 and the issuing authority of New South Wales. And the other, the value of Five Shillings.
If you look at the entire process, the application of the counter stamps - the issuing authority of New South Wales, the date 1813 and the value of five shillings - is the point at which the 1813 Holey Dollar is created. Prior to that, it was just a Spanish dollar with a hole in it!
The 40,000 Spanish Silver Dollars came with different dates and different design details that reflected the reigning Spanish monarch. And they were sourced from various mints around the world, each mint with a different identifying mark. As the Spanish Dollar was an internationally traded coin, most of them came to Macquarie well used. (We know that because the majority of Holey Dollars are well worn.)
As the Holey Dollar was crafted from a Spanish Silver Dollar (and not a metal blank), assessing its value gives consideration to the original dollar. Its quality. And its rarity, for some are indeed rarer than others.
Consideration must also be given to the extent of circulation once the dollar was converted to an 1813 Holey Dollar by looking at the wear to the counterstamps.
Valuing a Holey Dollar is therefore a multi-faceted process that takes into account seven elements. The date, the monarch and the legend of the original silver dollar. The mint at which the dollar was issued. The quality of that dollar. Now we turn to the counter stamps applied by Henshall. Are they random or precise? And are they worn?
The brief summary above is intended to explain how and why vast price differences can occur with Holey Dollars.
Owning a Holey Dollar is about indulging in an experience, a fusion of history and prestige. And its about savouring the moment.
It has been the inspiration and aspiration of many. Think Macquarie Bank and its logo! Museums, the world over. Historians, collectors, investors, both local and international.
This Edward VII 1910 Proof Sovereign has a level of excellence and exclusivity that inspires widespread admiration. The coin is a celebration of the Melbourne Mint’s achievements in crafting perfection in gold. And it is unique. It represents the very best in its class.
We estimate that one thousand collectors can own a 1930 Penny. Perhaps nineteen collectors can own a veiled head proof sovereign. But only two collectors can ever own an Edward VII proof sovereign, this coin one of the two. The importance of this offer cannot be overstated.
Excerpts from our report on the Melbourne Mint proofs (in the view more section) confirm its unique status and the extreme rarity of Edward VII proofs.
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When the Royal Mint London or the British Museum requested a sovereign or half sovereign from an Australian Mint, they were never sent a circulation strike. They were sent a specially crafted presentation piece.
Nor would a circulation strike be presented to the monarch, gifted to a dignitary or sent to an influential collector. And a circulation strike would not be displayed at a Colonial Exhibition. Again, an individually crafted presentation piece would be specially created for the occasion.
The technical term for such a piece is 'Coin of Record'.
A Coin of Record is an artistic interpretation of coinage, a strikingly beautiful coin beyond ordinary currency. Individually crafted to standards far exceeding that required of a circulating coin, minted with a proof or specimen finish and created using special coining techniques. Whereas production of circulating coinage was dictated by Government, Coins of Record were struck at the discretion of the mint master.
Coins of Record were not produced every year and, as they were individually crafted, the process was time consuming and the mintages minuscule. For gold proofs, generally ten pieces or less. There were several occasions when only a single coin was struck.
Coins of Record of Australia's sovereigns and half sovereigns are visually stunning, distinguished by brilliant golden-mirror surfaces. And it is their beauty and their ultra-exclusivity that drives demand.
The market for Australia's gold Coins of Record was effectively established in London, in 1903, and continues to this very day right across the globe.
Recent international auction results confirm their status as a globally traded commodity, the frosted proofs of the Melbourne MInt in particular, keenly sought after by American collectors.
The Coins of Record of Australia's proof sovereigns and proof half sovereigns are the crown jewels of coinage, adding glamour and exceptionality to any collection!
The Melbourne Mint opened in 1872 as a branch of the Royal Mint London, its main function to produce gold sovereigns and half sovereigns. Its gold coin production ceased in 1931.
Three monarchs reigned between 1872 and 1931, Queen Victoria, King Edward VII and George V.
The Melbourne Mint struck Coins of Record sporadically. Of the record pieces that were produced, those of Edward VII are the least available for collectors. (Confirmed in our chart below.)
John G. Murdoch was an influential British collector. He developed a strong business relationship with the Melbourne Mint and was one of the few collectors that was regularly supplied Coins of Record from 1884 until 1901, through the Young Head, Jubilee and Veiled era of Queen Victoria.
The market for Australia’s proof gold coins is international and it is dynamic. Without the involvement of John G. Murdoch, Australia's gold Coins of Record may never have seen the light of day, permanently stored in Government archives and out of reach of collectors.
Murdoch single-handedly created a market by taking Australian gold proofs into the buy/sell environment of collectors. And he struck a perfect balance with the market (then and today) with the quantities he held.
The coins moved onto the international stage when Murdoch's collection was liquidated via Sotheby, Wilkinson & Hodge in London in 1903 following his passing in 1902.
Murdoch's death in 1902 had a dramatic impact on production of Coins of Record at the Melbourne Mint.
Technically, it fell off a cliff.
Only one Melbourne Mint 1902 Proof Sovereign is known. Formerly held by the South Africa Mint (a temporary branch of the Royal Mint, 1923 - 1941) it is now held by a private collector.
No 1902 Proof Half Sovereigns are known.
And one example of the 1910 Proof Sovereign is privately held, formerly owned by Ross Pratley and Barrie Winsor, both leading gold coin specialists. (This coin)
The proofs of Edward VII are characterised by extreme scarcity. Proofs were only struck in two years and of each, only one example is known.
The proofs of Edward VII are further characterised by extreme beauty.
The Melbourne Mint reached its zenith in proof gold coining during the era of Edward VII, the depth of design of both the 1902 and 1910 Proof Sovereigns is magnificent, sculpted, three dimensional. The fields are like golden mirrors.
Unique 1910 Edward VII Proof Sovereign struck as a Coin of Record at the Melbourne Mint.
Superb FDC
Price: $135,000
This Edward VII 1910 Proof Sovereign has a level of excellence and exclusivity that inspires widespread admiration.
The coin is a celebration of the Melbourne Mint’s achievements in crafting perfection in gold. And it is unique. It represents the very best in its class.
The proofs of Edward VII are characterised by extreme scarcity. Proofs were only struck in two years and of each, only one example is known.
The proofs of Edward VII are further characterised by extreme beauty. The Melbourne Mint reached its zenith in proof gold coining during the era of Edward VII, the depth of design of both the 1902 and 1910 Proof Sovereigns is magnificent, sculpted, three dimensional. The fields are like golden mirrors.
We estimate that one thousand collectors can own a 1930 Penny. Perhaps nineteen collectors can own a veiled head proof sovereign. But only two collectors can ever own an Edward VII proof sovereign, this coin one of the two.
The importance of this offer cannot be overstated.
Sale number 24, conducted by Spink Auctions (Australia) in March 1988 was one of the company's most important auctions; a bicentennial celebration of all that was great in the Australian rare coin industry. The breadth and depth of excessively rare, high quality coins was compelling and overwhelming and was an event that is unlikely to be repeated. The auction made history! Out of the glittering array of esteemed rarities, a 1920 Star Florin was chosen to appear on the front cover of the catalogue. This is perhaps the simplest and easiest way of conveying the importance of the 1920 Star Florin to the industry. The coin is Australia's greatest florin rarity - the rarest florin struck for circulation. One of only seven produced at the Melbourne Mint as part of a specially controlled circulation strike, three of which are held by private collectors. And this example, one of the three ex Morton & Eden London, with superb detail and impressive satin surfaces.
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Rarity and circumstance have made the 1920 Star Florin one of Australia's greatest coin rarities.
In 1920, no florins were struck for general circulation. Seven florins were however produced at the Melbourne Mint as part of a specially controlled circulation strike and each coin featured a star above the date.
Distribution of these prized pieces was heavily restricted. Influential collector Albert Le Souef, (a Deputy Master of the Melbourne Mint between 1921 and 1926), obtained one of the seven. Three examples were retained by the mint with three heading to London, the Royal Mint the main recipient.
Aside from the Le Souef's coin, a further two have since emerged in the private sector. This coin acquired out of London and the other, sold on behalf of the Melbourne Mint museum through an Australian auction house as part of a fundraising exercise, late in 1988.
As to why no circulation florins were struck in 1920. Wildly fluctuating silver prices posed a serious issue for Governments, such as Australia, that were striking their coins in sterling silver.
The possibility that the intrinsic value of a coin would exceed its face value was a real one. The Government pondered a debasement of its coinage to lower the costs.
As to why the star appeared above the date. The dies were re-worked just in case the Government changed its mind and decided to strike a mintage of circulating florins with a reduced silver content, the star to signify the debasement.
History records that only seven circulating florins were struck in 1920, this coin one of the seven.
It is Australia's greatest florin rarity - the rarest florin struck for circulation.
Melbourne Mint
1920 Star Florin
Melbourne Mint
1920 Star Florin
The 1920 florins, showing the star above the date, were prepared as a result of a sudden rise in the price of silver that caused Great Britain and many other countries to reassess the silver content of their respective currencies.
Britain abandoned around 800 years of tradition when it reduced the finesse of its Sterling silver (92.5% pure) coins to an alloy of 50%. Canada also moved from the 92.5% standard down to 80% while British West Africa dropped silver issues completely in 1920 in favour of nickel and nickel brass coins.
Australia considered a similar move but in a gesture which cynical taxpayers of today would find very refreshing, the government wanted the public to be completely aware that the new coins would contain less silver.
According to the former numismatic curator of the Museum of Victoria, John Sharples, the normal order for 1920 dies for the silver coins had been placed in July 1919. At that time the intrinsic worth of the silver was less than the face value of the respective denominations and so no special instructions were issued in respect to the dies being prepared by the Royal Mint in London.
However by March 1920 the situation had changed drastically. According to John it was decided to prepare new dies which featured smaller date figures to differentiate the debased coins from the earlier issues.
Judging from correspondence that came back from London, it would appear that the mint had already started work on the dies or was too busy with other projects. A suggestion came back that a star above the date would not only be more noticeable but could be produced more easily and quickly than reworking the date.
This change was accepted by Melbourne and working dies for 1920 and punches for 1921 were ordered with the star. By August 1920, the Melbourne Mint had received thirty pairs of working dies for the florin and shilling denomination.
By the time everything was in place the silver crisis had passed. The silver price dropped, and neither the reduction or a circulation version of the 1920 florin eventuated.
No 1920 dated florins were issued for circulation. Three other denominations were struck for circulation in 1920, the shilling, sixpence and threepence. None carried the star. On some of the 1920 shillings (and even the sixpences) a small indentation above the date can be seen in high-grade coins, where the star has been removed on the die.
Strangely enough, the 1921 shilling still carried the star, although the silver crisis had long passed.
The excessively rare Melbourne Mint 1920 Star Florin, FDC
Ex Morton & Eden London 2007
Price: $95,000
Sale number 24, conducted by Spink Auctions (Australia) in March 1988 was one of the company's most important auctions; a bicentennial celebration of all that was great in the Australian rare coin industry.
The breadth and depth of excessively rare, high quality coins was compelling and overwhelming and was an event that is unlikely ever to be repeated. The auction made history!
Out of the glittering array of esteemed rarities, a 1920 Star Florin was chosen to appear on the front cover of the catalogue.
This is perhaps the simplest and easiest way of conveying the importance of the 1920 Star Florin to the industry.
The coin is Australia's greatest florin rarity - the rarest florin struck for circulation. One of only seven struck at the Melbourne Mint, three of which are held by private collectors, and this example with superb detail and fabulous satin surfaces.
If further accolades are required. The Numismatic Association of Australia (NAA) issued their inaugural journal in July 1985, a publication that continues to this very day. The first edition featured the 1920 Star Florin on the front cover!
When you look at this 1813 Dump in your hand, the fields are like glass and very reflective. The design details are super-fine and clearly visible to the naked eye. And that’s a sign of a high-quality coin. This is a superior quality example of the nation’s first coin, technically ranked in the top five per cent. Over and above its quality ranking this coin has attributes that are highly prized, traits that you simply don't see in every Dump. For a start there is the 'H’ for Henshall on the reverse, the mark left by the nation’s first mint master that guaranteed his fame. On the obverse, there also is evidence of the original Spanish Dollar design from which it was created. Intact edge milling, the minting authority's ploy to prevent clipping of slivers of silver from the edges. And the elusive dot above the ‘3’ in the date 1813. A Dump that offers the lot.
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The buyer that pursues a top quality Dump will find the task extremely challenging. It can be years before a premium quality example comes onto the market and decades before the very best becomes available. And that statement is said in the knowledge that there are perhaps 800 Dumps, across all quality levels, available to private collectors.
The Dump with a value of fifteen pence circulated widely in the colony, the extreme wear on most Dumps evidence that they saw considerable use. The Holey Dollar being a higher valued piece, at five shillings, had a narrower band of circulation.
So, while the Dump may seem the diminutive partner of the Holey Dollar, the reality is top quality Dumps have authority. They are extremely rare, in fact far rarer than their holed counterpart in the same quality level. Official Bank of New South Wales records show that in 1820 the bank held 16,680 Holey Dollars and only 5900 Dumps. Considering that 39,910 of each were released into circulation, the figures reflect the greater circulation of the smaller denomination Dump.
Top quality Dumps are extremely rare and highly valued.
Documentation as to the method of manufacture of the Holey Dollar and Dump has never been found. It is however safe to assume that whatever machinery was employed, it was hand operated as the first steam engine did not become operational in the colony until 1815.
Likely production options were the screw press, drop hammer or hand-held punch with the drop hammer method onto a pre-heated plug generally regarded as the most likely.
There is no doubt that heat was involved in the creation of the Dump. When the disc fell out of the centre of the Spanish Dollar, it still bore the original dollar design of a four quadrant shield, housing a lion and castle in each quadrant. And the shield's cross-bars. High temperatures obliterated the original Spanish Dollar design from most examples.
Those Dumps that retain the original dollar design elements are highly prized.
The high temperatures also caused an expansion of the metal disc that fell out of the dollar. The very reason why the Dump is always larger than the hole in the Holey Dollar.
The haphazard, obliquely grooved edge milling found on the dumps indicates that a 'fiddle method' was the final step in the production process whereby a roll of Dumps was rotated under pressure against a grooved cylinder.
While no one knows the method of manufacture, history records that convicted forger and emancipist, William Henshall, was hired to create the nation's first currency, effectively our first Mint Master. He declared his involvement in the creation of the Dump - and the Holey Dollar - by inserting his initial, an 'H' for Henshall, on some - but not all - of the reverse dies of the Dump. And some - but not all - of the Holey Dollar counter stamp dies.
Amazing to think that a convicted forger created the first 'mint mark' on Australia's first coinage!
1813 Dump
struck using the A/1 dies
1813 Dump
struck using the A/1 dies
This is a classic example of the 1813 Dump.
1. The 1813 Dump circulated widely in the colony, the extreme wear on most Dumps evidence of its extensive use. The average quality Dump is graded at Fine to Good Fine, with this coin at least four grades higher at Nearly Extremely Fine / Extremely Fine. (See chart below)
2. Struck with the A/1 dies, the crown is classically well-centred and well struck, the design definition strong.
3. William Henshall inserted an 'H' into some (but not all) of the dies used during its striking. The 'H' is strong and three dimensional.
4. The denticles around the edge of the coin are evident, almost half way around. Complete denticles, all the way round, is a phenomenon that is rarely seen on the 1813 Dump.
5. The oblique milling around the edge is fully evident. (The edge milling was used as deterrent against clipping whereby the unscrupulous shaved off slivers of silver, reducing the silver content of the Dump. And making a small profit on the side.)
6. While the Holey Dollar clearly shows that it is one coin struck from another, in a less obvious way so too can the Dump. The design detail of the original Spanish Dollar from which this Dump was created is evident on the obverse. We refer to it as the under-type and it is not always present. Its existence re-affirms the origins of the Dump and is highly prized.
7. This Dump shows a 'dot' above the '3' in the date '1813'. This is almost certainly due to a pit in the die and only occurs in those coins struck with the type A/1 dies. And even then it is identified in very few type A/1 examples.
1813 Dump struck from A/1 dies, Nearly Extremely Fine / Extremely Fine and rare in this quality
When you look at this 1813 Dump in your hand, the fields are like glass and very reflective. The design details are crisp and clearly visible to the naked eye.
And that’s a sign of a high-quality coin.
This is a superior quality example of the nation’s first coin, technically ranked in the top five per cent.
Over and above its quality ranking this coin has attributes that are highly prized, traits that you simply don't see in every Dump.
For a start there is the 'H’ for Henshall on the reverse, the mark left by the nation’s first mint master that guaranteed his fame. There also is evidence of the original Spanish Dollar design from which it was created on the obverse. Intact edge milling, the minting authority's ploy to prevent clipping of slivers of silver from the edges. And there is evidence of the elusive dot above the ‘3’ in the date 1813.
Highlights of our Inventory
The Melbourne Mint's 1916 Presentation Set is a cultural treasure, respected as the very first issue of Australian coins made especially for collectors. Four coins make up the set, the florin, shilling, sixpence and threepence struck to specimen quality, housed in an especially crafted velvet-lined blue case. It was a big deal at the time, a celebration of the Melbourne Mint’s inaugural striking of Australia’s Commonwealth silver coinage. And it’s a big deal today with only seven original cased sets sighted at auction over the last half century. The set’s importance has been the subject of many articles, one of which penned by Dr Vince Verheyen, is provided below. Testimony to the calibre of this particular set, it was selected as the front-cover item of Monetarium Singapore's inaugural auction in 2008. An inaugural set for an inaugural auction, a masterstroke touch! And this history-making 1916 cased Specimen Set is available now.
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Two dates are integral to the Melbourne Mint's history and the nation’s numismatic heritage. The first is its year of opening, '1872'.
The second is '1916', when the Melbourne Mint expanded its gold coining repertoire and commenced striking silver coins for the newly formed Commonwealth of Australia.
The mint did not produce any presentation pieces to celebrate its opening in 1872, a missed opportunity for today's collectors.
That numismatic shortcoming was addressed in 1916 when the Deputy Master of the Melbourne Mint authorised the production of sixty cased Presentation Sets, a portion earmarked to sell to collectors with a 2/-3d premium over face value. Others were gifted to dignitaries.
Natural attrition has taken its toll on the original mintage and only seven cased presentation sets have been observed at auction over the last half-century.
1916 Specimen Sixpence
1916 Specimen Florin
1916 Specimen Shilling
1916 Specimen Threepence
The Melbourne Mint’s iconic 1916 cased specimen set stands out as the first Australian made presentation for collectors of the Commonwealth's coinage. There are a few things to note about the 1916 cased specimen set.
First up the royal-blue case. The case is a stamp of authority indicating that the coins are presented today as they were originally intended more than a century ago. The integrity of the set is maintained by the case. Respected numismatist and author, Dr Vince Verheyen's take on the royal-blue case supports our view that it is an integral element of the presentation. “It cannot be over-emphasised that the set must be supplied with its original case.”
The second is that the coins tone. The toning to all the coins, again gives authenticity to the set. And given the different mirror and matte finishes of the four coins, collectors should not expect the toning to be identical, a point again emphasised by Verheyen. He also added ... "I would be suspicious of any bright white specimens given their age.”
The third point to note is storage for over the years we have been asked if the coins should be stored in the case? The coins will be housed in archival quality (museum quality) coin holders and presented in a quality velvet lined tray, thereby preserving their investment value. The royal blue velvet case will be separate to the tray.
Each coin in this 1916 Presentation Set was assessed by Coinworks, and Dr Vince Verheyen as part of his research into the article on the 1916 cased Specimen Set. (See below)
We note the similarities in toning between this set and that held in the Melbourne Mint Museum.
1916 Specimen Florin
1916 Specimen Shilling
1916 Specimen Sixpence
1916 Specimen Threepence
1916 Specimen Florin
1916 Specimen Shilling
1916 Specimen Sixpence
1916 Specimen Threepence
Coin Descriptions
1916 Specimen Florin -
A stunning coin with superb colours. The obverse a gold / green. The reverse with blue on the periphery and purple on the interior. The florin is superbly struck and has fabulous detail in all the design elements with a lovely smooth matte surface on both obverse and reverse. A highly reflective coin in the light. Striations are noted on the reverse.
1916 Specimen Shilling
That so much can be written on a one shilling coin reflects the meticulous nature of the strike and the beautiful aging process that it has enjoyed. This coin is intriguing in the light. It is superbly struck with mirror surfaces between 4 o'clock and 8 o'clock in the shield area and below 'Advance Australia'. (This phenomenen was noted by Vince Verheyen in his study of the 1916 Specimen Sets.) The reverse reveals multiple striations (raised parallel lines) across the fields; with those between the scroll and date and behind the emu strongly evident. Precise edge denticles, a high rim and beautiful antique toning on both obverse and reverse characterises this shilling.
1916 Specimen Sixpence
While the florin in a 1916 Set receives most of the accolades (because of its size), the sixpence in this set almost steals the show. It is glorious. Proof-like with beautifully mirrored fields. Very well struck, the denticles on the reverse rim are unusually strong. And magnificent colours. Heavy striations on both obverse and reverse are noted. Beautifully mirrored fields on the obverse with microscopic striations confirming careful preparation of the dies.
1916 Specimen Threepence
A full brilliant mirror finish with handsome blue and pink toning. The coin is extremely well struck, noticeable in the strength of strike in the star, shield and scroll. Strong striations confirm careful preparation of the dies at the Melbourne Mint.
Early in November 1915 the Melbourne Mint was formally instructed to commence preparations for the striking of the Commonwealth's silver coinage. The silver was sourced locally from the Broken Hill mines.
It is noted that prior to 1915, the nation's silver coinage had been minted overseas at the Royal Mint London and the Heaton Mint in Birmingham.
Towards the end of November 1915, dies for the set of four denominations were sent from London.
Six weeks after the dies were shipped, the Governor of Victoria Sir Arthur Stanley K.C.M.G, struck the first circulating 1916 shilling. It was logical that the Melbourne Mint would begin striking silver coinage with the shilling denomination given its similar physical size to their familiar sovereign.
The florin was struck almost immediately after, sixpences by the middle of 1916 with the threepences finally later in the year. More than 11.5 million silver coins were released into circulation that year.
The Melbourne Mint's inaugural striking of Australia's Commonwealth coins was a momentous occasion in minting circles. The Deputy Master of the Melbourne Mint therefore decided to create a Presentation Set to record the occasion.
Each presentation set was comprised of the four silver coins of florin, shilling, sixpence and threepence, each featuring the Melbourne mint mark ‘M’ below the date 1916 and minted to specimen quality.
The set of four was housed in a handsome, velvet-lined royal blue case that had been locally sourced.
The availability of the four-coin specimen presentation set was confirmed in November 1916 when Le Souëf recorded an entry of sixty specimen sets in the Mint Museums’ cash accounts with a face value of £11 5/-.
While records show that 60 sets were produced, sixteen were sold, collectors charged 6/- for a cased set.
A further 25 sets out of the original mintage were presented to dignitaries and politicians with the precise fate of the remaining sets unknown.
What we do know is that many of the cases have been lost and many of the sets have been broken up and sold as individual coins.
We also know that others were accidentally used as circulating coins, their value irreparably reduced through wear.
Over the past 50 years we have sighted only seven sets housed in their original case of issue.
In its second year of production, 1856, the Sydney Mint almost doubled its output of sovereigns. The recorded mintage in 1855 is 502,000 sovereigns, that of 1856 is 981,000. Based on these figures one might expect that the 1856 Sovereign would be easier to procure than the 1855. But it is not. We comment that while we have sold several top quality 1855s, this is the only Uncirculated 1856 Sydney Mint Sovereign we have sold. And we checked back at some of the most famous gold coin auctions held over the past fifty years comparing the quality of the 1855 and 1856 Sovereign. Auctions such as Spink Auctions Sharps Pixley Collection in 1989, Monetarium’s Quartermaster Collection in 2009, Baldwins London Bentley Collection in 2012 and St James London George Collection in 2014. Whereas the 1855 Sydney Mint Sovereign was offered as high as Choice Uncirculated, the top grading level of the 1856 Sydney Mint Sovereign was Uncirculated, equivalent to the coin offered here. It's quite Illuminating when you consider the almost unlimited resources involved in putting together these four collections, both physically and financially.
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When it comes to collecting vintage gold coins, collectors have two distinct options.
Collectors can acquire coins that were struck for circulation. Circulating coins were mass produced, hurled down a shute and into a barrel to be delivered to the banks, the mintages determined by Government and generally in the hundreds of thousands, if not millions.
Collectors can also collect coins that were struck as Coins of Record. Using standards and techniques far beyond that required for circulating currency, Coins of Record were minted to a proof or specimen finish and because the process was time-intensive, mintages were generally less than ten.
Each option, circulating currency or Coins of Record, presents the buyer with a vastly different sized pool of examples from which to choose. And very different challenges for procurement.
Average circulating gold sovereigns struck in years that have no special importance are generally readily available.
Once a buyer sets parameters on the quality and the dates being sought, the pool of specimens narrows and it is true that acquiring a key date gold coin that was struck for circulation, particularly one in premium quality, can be a journey in time that involves years.
This 1856 Sovereign is a key-date coin, the second year of operation of the nation's first mint. And the quality, Uncirculated.
History shows us that it could be five to ten years before a comparable example surfaces.
1856 Sydney Mint Sovereign
Uncirculated
1856 Sydney Mint Sovereign
Uncirculated
The Sydney Mint was established in a wing of the 'Rum Hospital' in Macquarie Street, Sydney.
The mint began receiving gold on 14 May 1855 and issued its first gold sovereign soon after on June 23. A total of 502,000 sovereigns were issued in 1855 and 981,000 the following year.
Both coins share the same reverse design. And the same obverse design of a young Queen Victoria with a braid in her hair, referred to as the Type I portrait design.
The Type I design only lasted for two years, and was replaced in 1857, making the 1855 and 1856 Sydney Mint Sovereigns keenly sought.
Based on the mintages of 502,000 and 981,000, the 1855 Sydney Mint Sovereign should be twice as difficult to find. But that is simply not the case.
Both the 1855 and the 1856 Sovereign are equally difficult to find in any quality, and particularly challenging to find an 1856 sovereign in top quality.
We looked at some of the famous gold coin auctions and compared their offering of the 1855 Sydney Mint Sovereign and the 1856 counterpart. With an acknowledgement of the almost unlimited resources involved in putting together these collections, both physically and financially.
The 1856 Sovereign posed the greatest challenge.
• The Quartermaster auction in 2009 offered a Choice Uncirculated 1855 and an Uncirculated 1856. We further note that the Quartermaster 1855 and 1856 sovereigns had been formerly owned by Robert Jaggard and Paul Terry, both collectors having advanced gold coin collections and unlimited resources to acquire the very best.
• The famous Sharps Pixley Auction conducted by Spink Auctions in Sydney 1989 offered a Choice Uncirculated 1855 Sovereign with full mint bloom, yet only a circulated 1856 Sovereign, graded Extremely Fine.
• The Bentley Collection in London 2012, offered an 1855 sovereign similar in quality to the Quartermaster example, and a circulated 1856, Extremely Fine.
• The sale of the George Collection conducted by St James Auction in London in 2014, offered the Sharps Pixley Choice Uncirculated 1855 Sovereign and again an Extremely Fine 1856 Sovereign.
Conclusion? This Uncirculated 1856 Sydney Mint Sovereign is a profound opportunity for the Sovereign collector.
Uncirculated 1856 Sydney Mint Sovereign
$85,000
The only 1856 Sovereign we have handled at this quality level.
We checked back at some of the most famous gold coin auctions held over the past fifty years comparing the quality of the 1855 and 1856 Sovereign.
Auctions such as Spink Auctions Sharpes Pixley Collection in 1989, Monetarium’s Quartermaster Collection in 2009, Baldwins London Bentley Collection in 2012 and St James Auction London George Collection in 2014.
Whereas the 1855 Sydney Mint Sovereign was offered as high as Choice Uncirculated, the top grading level of the 1856 Sydney Mint Sovereign was Uncirculated, equivalent to the coin offered here.
Its quite Illuminating when you consider the almost unlimited resources involved in putting together these four collections, both physically and financially. And the names associated with these collections, that had access to the very best, Bob Jaggard, Paul Terry, Barrie Winsor.
In 1851, the Sydney Morning Herald published an editorial championing the establishment of a branch of the Royal Mint in Sydney to buy gold at full price and strike it into sovereigns.
The plan for a branch of the Royal Mint received great support from the diggers. Solid opposition came from the banks and a prominent group of private individuals both of whom had become major buyers of gold on the fields at prices discounted well below the full London price. Profits were at stake! Both factions had earlier joined forces to quash a proposal for a Sydney Assay Office that would have also impacted negatively on their commercial interests.
While it is true that New South Wales had in 1851 formally petitioned the home office in London for a branch of the Royal Mint, the decision had already been made in the British Parliament to give the colonies greater autonomy and establish a branch mint to allow them to strike coins of the realm, the sovereign.
The Sydney Mint would strike sovereigns and half sovereigns to exactly the weight and fineness levels at the Royal Mint but they would have their own design. This was to protect the international reputation of the imperial gold coins in the event that Sydney was unable to meet the exacting standards demanded of the coin.
On the 19 August 1853 Queen Victoria gave formal approval to establish Australia’s very first mint at or near Sydney in New South Wales. In the same year, the Royal Mint London prepared designs of Australia’s first gold coinage and manufactured the dies.
The sovereign and half sovereign obverse design was a filleted bust of Victoria, only slightly different to that used on British sovereigns. The obverse quickly fell out of favour and James Wyon was ordered to engrave a new obverse that would be uniquely Australian to easily distinguish the colonial sovereigns from their British counterparts. To this end, a new portrait was introduced in 1857 that featured Queen Victoria with a banksia wreath in her hair instead of the band.
The reverse design was based loosely around contemporary reverse designs of the British sixpence and shilling. Its strong point of difference to the British sovereigns was the inclusion of the words 'Australia' and 'Sydney Mint'.
The use of the word Australia, a fascination with historians. At the time the nation was operating as separate colonies. Australia did not operate under a single Government until Federation in 1901.
The first Deputy Master of the Sydney Mint was Captain Edward Wolstenholme Ward, a trained member of the Royal Engineers. (Photo shown at top.)
Ward arrived in the colony in October 1854 on the ship Calcutta, along with other members of the Royal Engineers, a sergeant, three corporals and twelve privates. The group was deposited on Circular Quay with the bales and boxes of Sydney's new mint, along with the dies.
The Sydney Mint was established in a wing of the 'Rum Hospital' in Macquarie Street, Sydney. The mint began receiving gold on 14 May 1855 and issued its first gold sovereign soon after on June 23.
In their infancy the Sydney Mint sovereigns and half sovereigns were legal tender only in the colony of New South Wales.
In January 1856, the British tested the quality of the colonial gold coins and the results showed that they had a higher intrinsic value than their British counterparts, primarily due to their 8.33% silver content. Once these facts became known, profiteers began melting them down.
The colonial gold coins also became legal tender in Tasmania and Western Australia in 1856. South Australia and Victoria were reticent to enshrine the Sydney Mint as Australia's official mint as each colony had independently requested their own and were miffed at missing out.
By 1857, the legal tender scope was widened to include all Australian colonies and Mauritius, Ceylon and Hong Kong. In 1868 the Sydney Mint Sovereigns and Half Sovereigns became legal tender throughout the British Empire.
The design of the Sydney Mint Sovereign lasted until 1870 and was the only time the word Australia appeared on our gold sovereigns. From 1871, Australia's sovereigns took on a traditional British design.
Highlights of our Inventory
This 1936 Proof Florin was especially struck at the Melbourne Mint as a Coin of Record. A piece of great historical significance, it was struck to mark the final year of George V’s reign (1910 – 1936). Australia’s Coins of Record are admired and respected worldwide. As with fine art and fine jewellery, they have prestige value. The crown jewels of coinage, Coins of Record add glamour and exceptionality to any collection.
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This 1936 Proof Florin was not struck for collectors as part of any mass-marketing sales campaign. It was struck for the mint's archives and the privileged few. Because it was a specially arranged striking, only a handful of coins were struck.
Australian pre-decimal coins that were struck as proofs - but not destined for collectors - are technically referred to as Coins of Record. The term, COIN OF RECORD, is to a large extent self-explanatory. It is a coin that has been minted to put on record a date. Or to record a design.
What is not self-explanatory is that Coins of Record were struck to a proof or specimen finish as presentation pieces. And were struck in the most minute numbers satisfying the requirements of the mint rather than the wants of collectors. Forget the notion of striking ten thousand proofs as collectors are accustomed to today. Let's talk about striking a total of ten coins ... or in the case of this coin a lot less!
For today’s collectors the Coins of Record offer a wonderful link to the past and are extremely rare, two reasons that make them so popular.
1936 Proof Florin
Melbourne Mint Coin of Record
1936 Proof Florin
Melbourne Mint Coin of Record
There was no commercial angle in the production of Coins of Record. The mints were not out to make money from the exercise. Quite the reverse, striking a proof coin in our pre-decimal era was a very labour intensive (and hence costly) exercise that would have dented the mints annual budget quite considerably. The prime reason why so few coins were struck.
In the striking of a proof coin, the mint’s intention was to create a single masterpiece, coining perfection. Perfection in the dies. Wire brushed so that they are razor sharp. Perfection in the design, highly detailed, expertly crafted. Perfection in the fields, achieved by hand selecting unblemished blanks, polished to create a mirror shine. Perfection in the edges to encase the design … exactly what a ‘picture frame does to a canvass’.
The coins were individually crafted, the process time-consuming and the mintages tiny, therefore.
• The dies were struck twice onto the blanks to create a well-defined, three-dimensional design.
• The rims encircling the coins were high, creating a picture frame effect, encasing the coin.
• The pristine nature of the striking is particularly evident in the denticles. They are crisp and uniformly spaced around the circumference of the coin.
This is a unique opportunity to acquire an important piece of Australia’s minting history.
1936 Proof Florin struck as a Coin of Record at the Melbourne Mint and one of four known
Nobles Auction July 2001, Lot 1460
$25,000
FDC, with much brilliance under handsome smoky toning. Heavy striations on both obverse and reverse confirm careful die preparation.
This 1936 Proof Florin was especially struck at the Melbourne Mint as a Coin of Record.
A piece of great historical significance, it was struck to mark the final year of George V’s reign (1910 – 1936).
Australia’s Coins of Record are admired and respected worldwide. As with fine art and fine jewellery, they have prestige value.
The crown jewels of coinage, Coins of Record add glamour and exceptionality to any collection.
Highlights of our Inventory
This is an extraordinary quality Perth Mint Proof 1952 Penny. In our view it is the absolute finest of the known examples. The fields are like molten copper, super-reflective. The edges are polished, the denticles pristine. The coin simply dazzles. This is Perth Mint proof coining at its best. Furthermore, the coin is rare as are all Perth Mint proofs out of this era. The original mintage was fifteen with the majority sent to museums leaving few for collectors. The coin certainly impressed the crowd when it first appeared at auction in 2013. Solid bidding took the price from its pre-sale estimate of $20,000 to a final knockdown of $34,000, seventy per cent over the anticipated sale price. While we might sight a Proof 1952 Penny on the market every three to four years this coin, as the finest of its year, is a once in a lifetime buying opportunity.
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In an article published in the Journal of the Numismatic Association of Australia 2005, renowned numismatist Paul Holland contends that the Perth Mint proofs seemed to have been created for unaided vision. The point here is that a collector would not need an eye-glass to take in their beauty.
He also contends that the Royal Mint's 1951 proofs from the Royal Mint London came to be viewed as the best possible model for what the Perth Mint bronze proofs should look like. (Royal Mint's 1951 copper proofs, as a general rule, are stunning. Visually impactful.) When you look at this Proof 1952 Penny you can't help but feel that Holland was spot-on with his assessment.
1952 Proof Penny
Perth Mint Coin of Record
1952 Proof Penny
Perth Mint Coin of Record
The rarity of the Proof 1952 Penny was confirmed in 1995 in an article published in the NAA journal (Volume 8) by John Sharples, the then Curator of Australia’s Numismatic Archives.
He examined the distribution of proof coins recorded in Perth Mint communications and records over the period 1940 – 1954. He found evidence that fifteen proof pennies were struck at the Perth Mint in 1952.
The majority of the mintage was sent to Public Collections and Numismatic Societies. The official list authorised to receive Perth proofs were the Australian War Memorial, Royal Mint London, British Museum, Royal Mint Melbourne, Japan Mint, National Gallery SA, Art Gallery WA, National Gallery Victoria, Victorian Numismatic Society, South Australian Numismatic Society and the Australian Numismatic Society.
He noted that two private collectors (most likely Syd Hagley and Ray Jewell) received examples of the pre-1955 proof coins, such was the influence of these collectors.
The balance of the mintage, was destined for the mint's own archives. That
the bulk of the mintage was gifted to institutions is the very reason why they are so rare in today's collector market.
We might sight a Proof 1952 Penny on the market every three to four years. One as spectacular as this is a once-in-a-lifetime buying opportunity.
Proof 1952 Penny struck as a Coin of Record at the Perth Mint, FDC and a brilliant, full original mint red
Nobles Auction April 2013, lot 1472
$40,000
This is an extraordinary quality Perth Mint Proof 1952 Penny and, in our view, the absolute finest of the known examples. The fields are like molten copper, super-reflective. The edges are polished, the denticles pristine.
The coin simply dazzles. This is Perth Mint proof coining at its best. Furthermore, the coin is rare as are all Perth Mint proofs out of this era. The original mintage was fifteen with the majority sent to museums leaving few for collectors. The coin certainly impressed the crowd when it first appeared at auction in 2013.
Solid bidding took the price from its pre-sale estimate of $20,000 to a final knockdown of $34,000, seventy per cent over the anticipated sale price. While we might sight a Proof 1952 Penny on the market every three to four years this coin, as the finest of its year, is a once in a lifetime buying opportunity.
Proof 1952 Penny struck as a Coin of Record at the Perth Mint, FDC and a brilliant, full original mint red
Nobles Auction April 2013, lot 1472
$40,000
This is an extraordinary quality Perth Mint Proof 1952 Penny and, in our view, the absolute finest of the known examples. The fields are like molten copper, super-reflective. The edges are polished, the denticles pristine.
The coin simply dazzles. This is Perth Mint proof coining at its best. Furthermore, the coin is rare as are all Perth Mint proofs out of this era. The original mintage was fifteen with the majority sent to museums leaving few for collectors. The coin certainly impressed the crowd when it first appeared at auction in 2013.
Solid bidding took the price from its pre-sale estimate of $20,000 to a final knockdown of $34,000, seventy per cent over the anticipated sale price. While we might sight a Proof 1952 Penny on the market every three to four years this coin, as the finest of its year, is a once in a lifetime buying opportunity.
Apart from its extreme rarity, we offer four sound reasons why this Proof 1952 Penny is a must-have for today's collector.
1. Brilliantly preserved proof coins of the Perth Mint are unrivalled for quality.
The coins not only display superb levels of detail in their design, but qualities and colours that are unmatched by those of the Melbourne Mint. Each coin is a work of art, as individual, and as beautiful, as an opal. This Proof 1952 Penny looks like molten copper. It is magnificent.
2. Proof coins have a wonderful connection to the past.
They are the story tellers, defining an era, or a year, like no other coin. Proofs can also define an occasion. And a monarch. And they tend to have a connection to a prominent person, either a dignitary, a Mint Master or an influential collector. The Proof 1952 Penny is the last proof penny struck with the portrait of George VI.
3. Collectors are all but guaranteed that the market will never be flooded with examples.
The Perth Mint Proof Record Pieces is a sector of the rare coin market that offers financial stability and has been the hunting ground of investors for decades. The sector also has strength because it has widespread support amongst the Australian dealer market.
4. The Perth Mint is still operating.
That the Perth Mint is a leading coin producer makes their pre-decimal proofs historical. But also vibrantly current. So the ‘Perth Mint’ message always remains strong, underpinning future interest.
History of the Perth Mint
The discovery of vast gold fields in Coolgardie in 1892 and Kalgoorlie in 1893 triggered a Gold Rush in Western Australia and convinced the British Government to authorise the opening of a mint in Perth.
It was the third branch of the Royal Mint London opened in Australia following the establishment of the Sydney Mint in 1855 and the Melbourne Mint in 1872.
The Perth Mint was established in 1899 and remained a gold producing mint from the year of its opening until 1931 when Australia struck its last sovereign.
For nine years, the coining presses at the Perth Mint ground to a halt. Then early in November 1940, the Australian Government requested Perth to undertake the coining of Australia’s bronze pennies and halfpennies.
The Melbourne Mint had been called upon to do munitions work during World War II and assistance was sought from the Perth Mint to meet Australia’s currency requirements.
The Perth Mint continued to strike copper coins until 1964, when two years later Australia converted to decimal currency.
Established as a branch of the Royal Mint London, the Perth Mint adopted the practices of its master and struck proofs of those coins being struck for circulation.
In accordance with minting traditions the Perth Mint struck proof record pieces of those coins being struck for circulation. There was no hint of commercialism in the production of these pieces.
Posterity, the preservation of Australia’s coining heritage … that and a passion for numismatics were the driving forces behind their striking. The collector market per se was denied access to the coins.
When the Perth Mint struck a proof penny, its intention was to create a single, copper masterpiece. Coining perfection. Perfection in the dies. Wire brushed so that they were razor sharp. Perfection in the design, highly detailed, expertly crafted. Perfection in the fields, achieved by hand selecting unblemished blanks, polished to create a mirror shine.
Perfection in the edges to encase the design … exactly what a picture frame does to a canvas. A proof coin was never intended to be used in every-day use, tucked away in a purse. Or popped into a pocket.
Proof coins were struck to be preserved in the mint's archives as a record of Australia’s coining history, time-capsuled for future generations. Proof coins were also used to showcase a mint’s coining skills, to display at major worldwide Exhibitions or sent to other mint’s and public institutions.
The rarity of the Perth Mint proofs was confirmed in 1995 in an article published in the NAA journal (Volume 8) by John Sharples, the then Curator of Australia’s Numismatic Archives. He examined the distribution of proof coins recorded in Perth Mint communications and records over the period 1940 – 1954. He noted that two private collectors (most likely Syd Hagley and Ray Jewell) received examples of the pre-1955 proof coins, such was the influence of these collectors.
The balance of the mintage, however, was destined for the mint's own archives with the majority sent to Public Collections and Numismatic Societies. The official list authorised to receive Perth proofs were the Australian War Memorial, Royal Mint London, British Museum, Royal Mint Melbourne, Japan Mint, National Gallery SA, Art Gallery WA, National Gallery Victoria, Victorian Numismatic Society, South Australian Numismatic Society and the Australian Numismatic Society.
That the bulk of the mintage was gifted to institutions is the very reason why they are so rare in today's collector market.
The year 1921 is the final year of the kookaburra series and hosts two design types, the Type 11 and the Type 12. This coin is the design type 11.
The 1921 Kookaburra Penny struck with the design type 11 has distinctive qualities that set it apart from those struck with the design type 12. And that set it apart from all other kookaburra designs.
The 'type 11s' have glorious, brilliant proof-like mirror surfaces. And they tone, uniformly, generally to a brown/golden hue. The design is highly detailed and both obverse and reverse are unique to the type 11. No other penny shares the same design. And they are rarer than the Type 12, the Type 11 appearing once annually, the Type 12 offered perhaps every six months.
The availability of the Type 11, and its affordability, makes it a very popular choice for buyers to enter the Kookaburra series.