Extremely rare Australian coin sells for nearly $60,000 at auction (2024)
A rare 1930 Australian penny that was never meant to be minted has sold for just under $60,000 at auction.
Key points:
An Australian penny from 1930 has sold for $59,415 at auction
The penny is considered one of the rarest in existence due to its low mintage
Only 1,500 of the pennies were put into circulation
The 1930 penny was sold at a national online auctionlast night for $59, 415 to a Western Australian bidder, who intends to pass the coin on to his grand children.
Auctioneers believe it is a record sale price for a circulatedAustralianpenny in 'good/fair' condition.
Head of fine art and luxury at Lloyds Auctioneers and Valuers Amanda Benson told ABC Radio Adelaidethe penny has the lowest mintage of all pre-decimal Australian coinsin existence.
"They were released just after the stock markets crashed in 1929 and what's special about those is that they were never actually meant to be released," she said.
The federal government cancelled the orders for pennies in 1930 as the Great Depression took hold.
"Interestingly, the reason they were released was because the Melbourne Mint used a test run of around 1,500minted coins just to fill the 1931 order," Ms Benson said.
"They think 3,000 were minted but only 1,500 were used to bolster the 1931 supply.
"All of those 1,500 would have gone into circulation, which means to get any of the 1930 coins that have any sort of reasonable condition is very rare."
Ms Benson said it was not until thepre-decimal currencies were phased out in 1966 and enthusiasts began putting their coin collections together that anyonerealised the 1930 coin was missing.
"It was only then that people realised how rare they were," she said.
In 2019, a proof of the 1930 Australian penny reportedly sold for $1.15 million.
According to the Royal Australian Mint, a proof coin is "a carefully struck coin using special dies, with frosted images on a mirror-like background".
Proof coinshavenotbeen released for circulation and are of the highest quality.
Two morerecent Australian coins have jumped in value since the death of Queen Elizabeth II.
A 2012 $2 coin featuring a red poppy, which there was only 500,000 released, is now selling for more than $300.
And a $2 coin with purple stripes commemorating the60th anniversaryof the Queen's coronation, which there wasa million released in 2013, is selling for up to $180.
Ms Benson said there wasgrowing interest in alternative investments at the moment.
"Ironically it's during times when the stock market tends to be a little bit more tumultuous that people look for alternative investments like coins, paintings, memorabilia," she said.
"At the moment, because the stock market is quite difficult to predict, people are looking for other investments like this."
The coin was introduced in 1911, while the last penny was minted in 1964. After decimalisation on 14 February 1966 the penny was equal to 0.8333 cents. The obverse of the coin featured the reigning Australian monarch. Three were featured: George V, George VI and Elizabeth II.
https://en.wikipedia.org › wiki › Penny_(Australian_coin)
has sold for $60,000 at auction, breaking an Australian record. The coin went under the hammer over the weekend and was bought by a Western Australian bidder. The auctioneers believe it is a record sale price for a penny in 'good/fine' condition.
“The most popular higher value coin and the most iconic in Australian coins is the 1930 Penny which in itself is a story,” Mr Waterman said. “There was no official mintage for the 1930 pennies, and it wasn't until the 50s that collectors and dealers at the time worked out that they actually existed.”
The 1794 Flowing Hair Silver Dollar may sit atop the rankings of the most expensive coin ever sold, at least for now. Some experts believe that it was the first silver dollar struck by the U.S. Mint. The front features a profile of Lady Liberty with flowing hair, while the reverse shows an American eagle.
The most expensive coin in the world is the 1933 “Saint Gaudens” Double Eagle, which sold in June 2021 for a whopping $18,872,250. Yes, that's nearly nineteen million dollars for a single coin. The 1933 Double Eagle was auctioned by Sotheby's on behalf of private collector Stuart Weitzman.
Coin enthusiast Joel Kandiah said the secret to finding a valuable coin was high popularity among collectors as well as having limited production or "low mintage". "Broadly speaking, low mintage coins will see high demand because they're harder to find," Mr Kandiah said. But it's not always the case, he said.
How Much is the 2000-D Sacagawea Dollar Worth? Due to its mintage of over half a billion coins, the 2000-D Sacagawea dollar remains a common coin. Below Mint State, these coins are worth face value and can be spent freely without concern. The 2000 Uncirculated Coin Set is also a common collectible item.
Your coin is worth face value. The John Adams $1 coin was minted in 2007. Each Mint that produces coins for circulation (Philadelphia and Denver) minted well over 112,000,000 of them.
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Some examples include the 'Crowning Glory' of any serious decimal collection the 1967 Goose $1 designed by Andor Mészáros, the 2000 $1/ 10c Mule, the 1966 Wavy Baseline 20c, the 2007 Double Obverse (Head) 5c, 1997 $1 Sir Charles Kingsford Smith Coin with Counterstamp 'C' or 'S' and many more!
Coinworks is the only company that focuses solely on the buying and selling of Australian rare coins and offers the widest range of quality Australian coin rarities. With more than forty five years in the industry, Coinworks knows the rare currency market.
During 1988, it was decided 50c coins would commemorate the 200th anniversary of the arrival of the First Fleet, with the standard coat of arms being shelved. However, some coins slipped through the cracks, with the standard coat of arms printed on the coin as well as the 1988 date on its back.
They have no value over their face value and anyone who tries to sell them to you for more than that is scamming you and should be avoided like the plague. These coins are high-mintage items. The HH on them does not make them a rarity and between them, nearly 200 million examples were produced between 1988 and 1989.
How much is a 1943 Australian penny worth? The value of a 1943 Australian penny can range from $20 to $250, depending on where they were minted and their appearance.
Downies Collectables, a Victorian-based coin dealer, recently sold a rare 1988 50 cent coin for $14,750. All 50 cent coins minted in 1988 were supposed to feature a First Fleet boat and the dates 1788-1988 to celebrate the bicentenary.
Introduction: My name is Saturnina Altenwerth DVM, I am a witty, perfect, combative, beautiful, determined, fancy, determined person who loves writing and wants to share my knowledge and understanding with you.
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