1931 Dropped "1" Penny with Indian obverse - PCGS VF Details

1931 Dropped "1" Penny with Indian obverse

PCGS VF Details

Sold

certification

Australia, 1931 Dropped "1" Penny with Indian obverse -

If the 1930 penny is the king of Australian pennies, the 1931 Indian obverse die penny with the low “1” is its illegitimate older brother. Rare, infrequently seen, and painfully underappreciated as a numismatic coin, this 1931 penny variety (the “dropped 1 Indian” as it is known) has existed in the shadow of the 1930 penny since it was minted, even though it is harder to find and was minted in smaller numbers. Despite its rarity, it is available at a fifth of the price of a 1930 penny, even though it appears on the market just once or twice a year. (Compare that to the 1930 penny’s multiple appearances at almost every major auction.) It is esoteric, yes, and a bit more of a specialist’s coin, but that doesn’t diminish its exceptional uncommonness. The coin photographed above has suffered verdigris damage, although the verdigris is no longer active. PCGS has put the coin into a VF Details – Environmental Damage holder. With its partial centre diamond and clear lower band, the coin, in undamaged state, would be worth north of $4,000, so if you’ve been after an example of this major Australian rarity but prefer not to pay halfway to five figures, this is your coin.

Grades PCGS VF Details.

Product ID: 193141803486-1

Featured coins