Coin Profiles: The 1930 Australian Proof Penny

Coin collecting has started since coins were first created. People hoarded coins for their bullion value, and it was only later on that collectors started to appreciate coins by their artistic value and design. The coin collecting hobby sprawled worldwide, and Australia has its very own numismatic history.

One of the most prized in Australian coins is the 1930 One Penny. Back in the days when coin collectors started their own collections and noticed that some of the coins are actually hard to come by, the 1930 penny was the rarest. For some time after, it was known to most collectors how rare the 1930 penny was. Some collectors were even willing to pay a large amount just to get it and finally complete their coin sets. Recently, one coin was sold by the owner, Belinda Downie, for an amount higher than $1.5 million.

During the Depression, no 1930 pennies were issued by the Commonwealth of Australia. Some were struck by the Melbourne Mint to test dies in preparation if ever the Commonwealth gave orders to officially produce coins. These "test" coins are the 1930 Australian Proof Penny.

Because of the continuous rise in the value of the 1930 Australian Proof Penny, forgeries have become inevitable. If you happen to have one and are unsure, always ask for professional assistance from a member of the Australian Numismatic Dealers Association. They have enough experience and are of high calibre to help you fault the coin or consider it genuine.

The obverse side is struck with the Indian Obverse Die. Only two 1930 pennies were believed to be struck with the London Die. The final upstroke in the N of the OMN sits in line with an outer rim bead. The colon following the inscriptions IMP is aligned between two beads.

The reverse is struck from the London Master Die. The letters A and L in AUSTRALIA are aligned with the beads of the outer rim, and the letters I and A at the end of the inscription are between the beads of the outer rim.

So if you ever come across a 1930 Australian Penny and are unsure whether or not it is genuine, check the obverse and reverse side if they coincide with the standards above. Also, it is a good practice to ask for people specialized in faulting coins and also sending it to a trusted coin grading company.

Coin collecting is a fun and rewarding hobby, especially if you have the diligence to search through the many coin shops and events. A trusted coin shop is a good partner as you grow into a professional collector, and one coin shop with a trusted reputation such as Colonial Acres is a helping hand to assist you in achieving your ideal collection.