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Penny (Australian coin)

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'Australian penny' redirects here. For the former decimal Australian coin informally known as the 'penny', see Australian one-cent coin.

The Australian penny was a coin of the Australian pound, which followed the £sd system. It was used in the Commonwealth of Australia prior to decimalisation in 1966. One Australian penny was worth 1⁄12 Australian shilling, 1⁄24 Australian florin, 1⁄60 Australian crown, and 1⁄240 Australian pound. The coin was equivalent in its dimensions and value to the British pre-decimal penny, as the two currencies were originally fixed at par.

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. All of the pennies bearing George VI and Elizabeth II had a kangaroo on the reverse. The kangaroo image was on the Australian half penny and has since been included on the dollar coin and the bullion silver kangaroo.

During the George VI era, coins minted at Perth had a dot either at the end of the word "PENNY", after the word "AUSTRALIA" or in between the "K" and "G" above the end of the kangaroo's tail, while coins from Melbourne did not have a dot. An "I" under the bust of George VI denoted being minted in India and is only found on pennies and half pennies dated 1942 and 1943. A "PL" mintmark after "PENNY" denoted minting in London, England and is only found on the 1951 dated penny and half penny. This continued through the end of the coin's lifetime.

Types

Image Years Technical parameters Description / Legend / Designer
Obverse Reverse From To Diameter Thickness Mass Composition Edge Obverse Reverse
1911 1936 30.8 mm 9.45 g Bronze: Cu 97.5%, Zn 2.0%, Sn 0.5% Plain George V
GEORGIVS V D.G.BRITT: OMN: REX FD IND:IMP:
by Bertram Mackennal		 ONE PENNY COMMONWEALTH OF AUSTRALIA
by W.H.J. Blakemore
1938 1948 George VI
GEORGIVS VI D:G:BR:OMN:REX: F:D: IND:IMP.
by Thomas Hugh Paget		 Kangaroo / Commonwealth Star
AUSTRALIA PENNY
by George Kruger Gray
1949 1952 George VI
GEORGIVS VI D:G:BR:OMN:REX FIDEI DEF.
by Thomas Hugh Paget
1953 1955 Elizabeth II
+ ELIZABETH.II.DEI.GRATIA.REGINA
by Mary Gillick
1959 1964 30.8 mm 1.5 mm Plain Elizabeth II
+ ELIZABETH.II.DEI.GRATIA.REGINA.F:D:
by Mary Gillick		 Kangaroo
AUSTRALIA PENNY
by George Kruger Gray

Numismatics

A genuine 1930 penny.
A genuine 1930 penny.

The 1930 penny is one of the rarest Australian coins, due to a very small number being minted,[1] and holds the record as the most valuable copper penny in the world.[2] It is highly sought after by coin collectors, and a 1930 penny in very fine condition can be worth A$45,000 or more.[3] The 1930 penny has remained Australia's most well-known rare coin ever since one was first discovered by Sydney coin collector Fritz Schaefer between 1940 and 1944.[4]

Other "hard to get" years include 1925 and 1946, although they are not as valuable as the 1930 penny. Lower-grade 1925 and 1946 pennies can be obtained for under $150.

There are also some valuable varieties of the Australian penny. Most varieties arose as a result of either historical events that impacted normal operation of the country's coin mints or intended changes in the coin minting processes. For example, there is a cluster of 1931 penny varieties that evidences an experimental period of penny production at the Melbourne Mint during the start of the Great Depression.

Another example is the cluster of 1920 penny varieties that evidences the transfer of dies from the Melbourne Mint to the Sydney Mint, which involved a series of experimental strikes in preparation for the first official pennies that were struck by the Sydney Mint in October 1920.[5] Similarly, the 1952 cluster of penny varieties arose when the Perth Mint began to produce its own pennies following a series of experimental strikes.[6]

While many penny varieties are common, there are some extremely rare and valuable examples, such as the 1930 English obverse penny [7] and the 1920 English obverse penny with a dot above the bottom scroll.[5]

Minting figures

The numbers below include specimens and proof issues, where mintage for them is known. Counting these, a total of 814,788,088 coins of the denomination were minted during its existence.[8]

  • 1911: 3,768,000
  • 1912: 3,600,000
  • 1913: 2,520,000
  • 1914: 720,000
  • 1915: 2,280,000
  • 1916: 3,324,000
  • 1917: 6,240,000
  • 1918: 1,200,000
  • 1919: 5,810,160
  • 1920: 9,041,600
  • 1921: 7,438,320
  • 1922: 12,697,440
  • 1923: 5,654,400
  • 1924: 4,665,840
  • 1925: 1,639,200
  • 1926: 1,860,000
  • 1927: 4,922,450
  • 1928: 3,038,400
  • 1929: 2,599,200
  • 1930: unknown (usually estimated around 1600)
  • 1931: 494,400
  • 1932: 2,116,800
  • 1933: 5,817,600
  • 1934: 5,808,100
  • 1935: 3,724,900
  • 1936: 9,890,400
  • 1937: 12 (unreleased pattern)
  • 1938: 5,552,650
  • 1939: 6,240,000
  • 1940: 5,188,800
  • 1941: 14,382,800
  • 1942: 21,244,800
  • 1943: 53,198,400
  • 1944: 29,942,000
  • 1945: 15,172,806
  • 1946: 240,000
  • 1947: 11,174,400
  • 1948: 28,150,000
  • 1949: 27,064,800
  • 1950: 57,846,800
  • 1951: 52,128,000
  • 1952: 57,922,000
  • 1953: 13,138,816
  • 1955: 17,447,101
  • 1956: 25,994,917
  • 1957: 15,979,112
  • 1958: 24,443,334
  • 1959: 16,048,136
  • 1960: 20,516,230
  • 1961: 30,608,240
  • 1962: 34,852,664
  • 1963: 10,259,660
  • 1964: 64,590,000
  • 1965: none ever sighted

References

  1. ^ "The 1930 penny". Triton Technologies. 14 July 2001. Archived from the original on 5 October 2018. Retrieved 20 January 2022.
  2. ^ "Proof 1930 penny sold for $1.15 million". Coinworks. Retrieved 20 January 2022.
  3. ^ "Why Invest in Rare Coins and Banknotes". KJC Coins (Australia). Archived from the original on 30 October 2009. Retrieved 20 January 2022.
  4. ^ "1930 Penny-Why Our Most Popular Rare Coin?". Sterling & Currency. Retrieved 22 January 2023.
  5. ^ a b "Australia 1920 (S) Penny (Indian Obverse)". Benchmark Catalogue. August 2020. Retrieved 20 January 2022.
  6. ^ Holland, Paul M. (2000). "Date Numeral Varieties of 1952 Perth Mint Pennies" (PDF). Journal of the Numismatic Association of Australia. 11. Numismatic Association of Australia: 25–39. Archived from the original (PDF) on 29 March 2020. Retrieved 20 January 2022.
  7. ^ "Australia 1930 Penny (English Obverse)". Benchmark Catalogue. August 2020. Retrieved 20 January 2022.
  8. ^ "Penny, Coin Type from Australia". Online Coin Club. Retrieved 20 January 2022.

Further reading

Preceded by Penny
1911–1964 		Succeeded by
Denomination Abolished
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