2011 Centenary of the Census $1

The 16th Census of population and housing will take place on the night of August 9th 2011. This event marks the centenary of national census taking in Australia and is conducted by the Australian Bureau of Statistics every 5 years. The National Census Act was passed in 1905 and the first Australia wide census taken in 1911. Inconstant at first and after a 14 year pause for WWII by 1961 it was decided that data would be collected every 5 years and the Act ammended in 1977.

The census gives a real live look inside where we are at as a nation with every household and person in the country required to answer specific questions about themselves and where they live. The national census is a compulsory event for everyone. Information resulting from each census helps for example governments plan where we need infrastructure, services and facilities such as schools and hospitals.

This one dollar coin has been struck by the Royal Australian Mint and is designed in collaboration with mint designer Vladimir Gottwald and the Australian Bureau of Statistics. It's reverse design features a bar graph of horizontally stacked faces representing the individuals that make up the national census figures. A stylised map of Australia made from ribbon is the logo of this census also features in the reverse design. It is a non-circulating legal tender type for the collector market so you won't find one of these in your change. It is however the standard 25mm one dollar size and is struck in aluminium bronze with interrupted edge reeding. The obverse features the standard effigy of Queen Elizabeth II by Ian Rank-Broadley. It is available in uncirculated quality in a collector card for $12.95. It is being marketed as a memento for those tens of thousands of people who worked for the census in 2011. Find the mintage in the 2011 mintages table.

2011 Centenary of the Census Logo also depicted on the $1

In their continuing effort to assist collectors and combat the rise of counterfeit coins PCGS is making some adjustments to their submission system effective August 1st 2011.

Secure Plus is a service offered by the Professional Coin Grading Service which includes high tech security features and tougher scrutiny of each coin graded. This service will now become available to economy level submissions and they will now allow "genuine" coins into a secure plus slab. A secure plus submitted coin means it will undergo more vigorous testing by the PCGS graders. It will be photographed and that photo made available on the certificate verification page of the PCGS website. You can see the PCGS image of this 1917m sixpence MS64 matches that of the coin in hand here in this example. Each coin is laser scanned, sniffed (to detect the presence of chemicals or enhancement materials on the coin) and undergoes a metal composition analysis. These measures have been implemented to help PCGS identify if a coin has been slabbed by them before, altered and returned to them for regrading or is a counterfeit example. The photographs available will help collectors see for themselves if they are offered a counterfeit coin or a counterfeit PCGS slabs -an immeasurable boost in consumer confidence. With these measures it is now much more likely that your coin might be recovered if it were stolen. Another change is that because of the problem with Chinese counterfeit coins, PCGS will only accept coins from this country on the Secure Plus service level.

Let's not forget the important grading factor about Secure Plus graded coins is that they undergo more consistent grading and may be awarded a + grade ie. MS65+ giving that coin a potentially much higher value and position in the population report.

2011 Dame Joan Sutherland $1

Dame Joan Sutherland graced the opera stage in a career spanning over 40 years. The outstanding soprano was born in 1926 and passed away October 10th 2010. Her life and melody is celebrated with this non-circulating legal tender one dollar coin commemorating her achievements in the Inspirational Australians series released by the Royal Australian Mint. This Inspirational Australians series has seen a coin released in 2010 for Fred Hollows, 2009 Steve Irwin and 2008 Saint Mary MacKillop. These 25mm aluminium bronze one dollar coins are collector coins only but are the same as their circulating cousins in all specifications.

The Dame Joan Sutherland reverse is sculpted by RAM designer Wojciech Pietranik, his WP initials can be seen on the design. It depicts Dame Joan in full operatic performance as she is such well known for and fondly remembered. The legends reads "Inspirational Australians: Performing Arts Dame Joan Sutherland 1926-2010 1 Dollar". The obverse features Queen Elizabeth II depicted by Ian Rank-Broadley. Released July 1st 2011, find the mintage in the 2011 mintages table.

2011 Air Series Major Mitchell Cockatoo $1

The Major Mitchell cockatoo is featured on this pad printed 2011 Australian one dollar coin released July 1st. It is the third coin in the Air series released by the Royal Australian Mint after the Rosella and Kookaburra issues earlier this year. It is the standard one dollar 25mm size and weighs 9 grams, just the same as the circulation dollars however this issue has been struck for the collector market and these coins are not intended for circulation. Made from an aluminium bronze planchet these coins are struck with the obverse design, the depth of the reverse design and interrupted edge reeding. The colour is then pad printed onto the reverse showing off this gorgeous pink and white cockatoo named in honour of Australian explorer Major Sir Thomas Mitchell. The obverse features the standard effigy of Queen Elizabeth II by Ian Rank-Broadley. Issued at $14.95 in an informative colourful card this release is sure to be popular, the mintage can be found in the 2011 mintages table. See the other issues in the Air Series.

2011 Air Series Sacred Kingfisher $1

The Sacred Kingfisher is featured on this pad printed 2011 Australian one dollar coin released July 1st. It is the fourth coin in the Air series in the second release by the Royal Australian Mint along with the Major Mitchell cockatoo. Earlier this year we saw the Rosella and Kookaburra issues. The Air series follows the very popular Ocean Series and Land Series also released by the RAM.

The coloured Kingfisher coin is the standard one dollar 25mm size and weighs 9 grams, just the same as circulation dollars however this issue has been struck for the collector market (termed NCLT) and these coins are not intended for circulation. Made from an aluminium bronze planchet these legal tender coins are struck with the standard Ian Rank-Broadley obverse design, the depth of the reverse design and interrupted edge reeding. The colour is then pad printed onto the reverse showing off the vibrant colours of this bird. Issued at $14.95 in an informative colourful card this release is sure to be popular with children and bird lovers. The mintage can be found in the 2011 mintages table. See the other issues in the Air Series.

Left: Melbourne (*Type I) Right: Perth (*Type II) Foy and Gibson Bags

A Foy Bag is a little paper envelope that does or once did contain a 1934-5 Melbourne Centenary Florin. The commemorative florin was given as change in the special paper pouch to those who shopped at Victoria's first department store Foy and Gibson during the Melbourne Centenary celebrations. The Great Depression put great strain on living expenses and the authorities had trouble selling the commemorative florins (for 3 shillings each - 150% of face value) which had been minted for the centennial celebrations of the founding of Victoria (1834) and the establishment of Melbourne (1835). Department store Foy and Gibson Pty Ltd purchased 30,000 of the coins (which would otherwise have been melted down) to give to their customers in the special envelope so they could have an "unusual" coin in their change.

There are two type of Foy Bags, a Melbourne Foy Bag (*Type 1) and Perth Foy Bag (*Type 2) which represented the Perth branch of the retail giant. The Melbourne Foy Bag was issued at all their Victorian stores, Melbourne, Collingwood, Prahran and Adelaide. The Perth Foy Bag is much rarer than the Melbourne Foy Bag and their value is astounding.

Because of their age and their fragility not many have survived the years without damage, it's not often that you see quality examples with the envelope flap intact and I have never seen one without a centre fold. Values for the bag alone are eye opening and see a Melbourne Foy Bag realise a few hundred dollars to a Perth variety realising at least double that. Quite often they are sold with the Centenary Florin they were found with, depending on the condition the pair could easily realise $1,000+.

*Type I and II as described in The pocket guide to Australian Coins and Banknotes 18th edition by Greg McDonald

Ask anyone at all and they'll probably be able to tell you that there is a key coin in the pre-decimal Australian penny series that is highly sought and has a hefty price tag. If they are really smart they'll be able to tell you what year that is. There is much hype surrounding the circulation 1930 penny and it's existence, as officially at least, it was a coin that was not supposed to be minted. Because of this it is quite often hyped as the Holy Grail, the King of Rarities or the King of Australian Coins.

Australian numismatic folklore suggests that during the depression in late 1929 a decision was made not to strike any pennies for 1930 despite the fact that 2 dies had already been made. One supposed version of events that lead to the the minting of 1930 pennies was that a press was setup in 1930 so that the coining process could be demonstrated to visitors to the Melbourne Mint. Visitors to the mint could swap an everyday penny from their pocket for a freshly struck lustrous 1930 penny. Another tale from the the numismatic crypt says that 1930 pennies were supposedly minted in 1931 when there was an order from treasury to strike pennies. But, a date had not been specified. As 2 1930 dies had already been prepared these were used for (part of) this order. A final theory was that some coins were struck during the testing of these dies and it was those coins that were used to fill this treasury order. Legend has it that somewhere between 2,000 and 10,000 1930 dated coins were released into circulation. It is estimated that between 1,500-3,000 circulation examples remain today.

During the Great Depression many families could barely make ends meet and any spare pennies brought food to the table and put clothes on their backs. It's for this reason most known examples of the 1930 penny are well worn indeed. Realisation of the scarcity of the 1930 penny came in the 1940's when coin collectors noticed a common hole in their penny sets, the 1930 penny. It was at this time when dealers began offering up to 10 shillings (120 times face value) for an example and the public began scanning their coins for that elusive date. This began both their legendary status in Australian coin collecting and it's at this time that they began to command a premium price.

2011 Australian Coins and Banknotes (18th edition by Greg McDonald) catalogues a fine example at $28,000 and an extremely fine coin at $140,000. Generally if you are after one of these coins there are usually a few available in the marketplace at any one time. It is estimated that 70% of all the examples available today are in gFine of lesser condition. A fine example is currently on offer from Downies for $27,500. A review of the prices of lower grade examples shows a poor investment return over the last 10 years. For example a gF 1930 penny sold for $26,000 in the Colonial Coins auction in 2003. An extremely fine graded coin, the finest known circulation example was passed in at $450,000 at the recent IAG auction.

The obverse features King George V sculpted by Sir E. B. Mackennal and there are 2 known varieties of this obverse. The most common was struck with the Indian die and 2-3 examples have be seen struck with the London die (these were authenticated by the Royal Australian Mint and the Royal Mint). The Indian die is most commonly identified as having 178 rim beads and the upstroke of the N of OMN aligning with an outer rim bead.

The reverse features the words "Commonwealth of Australia One Penny" and the date. All 1930 pennies were struck with the London reverse which has 174 rim beads (or denticles).

Proof examples were recorded by the Melbourne Mint with 6 known examples (struck with the Indian die) that were created as museum pieces. Three of these are in private hands, the remaining three are in the public collections of the Museum of Victoria, the National Gallery of South Australia and the British Museum in London.

Authentification of a 1930 penny can be difficult with many forgeries, counterfeits, cast copies and altered date coins out there. Most commonly today, cheap Chinese copies are available and altered dates use alternate dated coins and the digit changed to an "0" which are easily determined as fakes. These coins are keenly sought to fill a hole in many collections and sometimes are used to deliberately deceive naive or inexperienced collectors. The quality of these fakes can often be startlingly good and we're aware of more than one experienced coin dealer who has bought one in error.

The "finest known" from circulation 1930 penny went unsold in the recent IAG auction (74) held in Melbourne on June 2nd 2011. The estimate on value was anything upwards from $450,000 and it failed to sell at this price. Claimed as the "finest known" with "considerable mint red lustre", "lovely fresh surfaces" and the "most important copper coin" of the 20th century it's amazing that this coin was not snapped up by an astute collector. Why?

A fellow numismatist of the highest expertise in the Australian numismatic industry viewed the coin in question which did not live up to the hype surrounding it's impending sale. The coin was dull and didn't exhibit true lustre associated with a coin "with lovely fresh surfaces". It did in fact show considerable pvc residue and damage to the surfaces from poor storage methods. An impaired coin which the graders at PCGS would bodybag as a damaged coin if submitted to them for grading. Past owners must not have taken the consideration and care with their choice of storage for this valuable coin with significant historical value. The suggested grade also fell a bit short of the advertised gEF-aUNC graded in hand as just EF.

Whilst researching this article I've questioned the provenance advertised of this particular coin with the IAG catalogue itself stating this coin had sold at Spink Auction 22, 1987 for $46,000 on an estimate of $35,000 and again sold at Spink Sale 26 (Nov 1988 lot 906). Why did the 1987 buyer resell in 1988 and the sale price not disclosed? Advertising in April 2011 Australasian Coin and Banknote Magazine states it was last seen at Noble's Sale in July 1987. There doesn't seem to be any continuity here in the advertising to sell this half a million dollar coin. We'll see if it pops up again for sale!

edit: 7 June 2011
It appears this coin graded gEF (and in poorer pvc affected condition) did sell at Spink Auction July 1987 for $46,500. It was then offered for $50,000 and remained unsold at Spink Auction 26 lot 906 Nov 1988 and offered for $85,000 in Status Inc. auction 181 lot 2823 Sep 1998 and also remained unsold.

Image from "The Quest for the Holy Grail", Australian Coins and Banknotes Magazine July 2003
by Carlo D'Angio

PCGS MS65RB Australia 1963Y Half Penny

I've had three Perth halfpennies on my eBay watch list for the last few days and they finished up last night and achieved what can only be called a remarkable price. The coins, a PCGS MS64RD 1960Y Half Penny, a PCGS MS64RD 1963Y Half Penny, and a PCGS MS64RD 1964Y Half Penny fetched $247.50, $232.50, and $270 respectively. Each was unusual in that they had the red (RD) designation. Perth bronze coins are very rarely the fiery coppery red colour that the US graders at PCGS expect in a coin that gets the RD designation and this explains their scarcity. It was this designation that had made me watch the coins in the first place.

The coins all fetched between 6 and 9 times Mcdonald's CV in GEM grade which is a great result for the seller. There are currently 5 1960Y half pennies in MS64RD, 5 1963Y's, and 4 of the 1964Y's. So they are indeed scarce coins. It appears that the same purchaser bought all three coins and perhaps is building a strong view PCGS registry set and trying to get the bonus point that a coin with the RD designation offers. Interestingly these MS64RD coins score the same registry set points as a coin with the MS65RB designation. It would be interesting to compare the prices fetched by coins with the two grades. We know from experience that 1964Y Half Pennies in MS65RB have realised prices over $250 in the last 6 months which suggests the coins are indeed being purchased by those building registry sets.

1952a Penny Indent with Partial Brockage

This 1952a Australian penny was struck in Perth but there was a press malfunction during it's minting. The coin struck prior to this coin had not exited the press completely before the new blank fell into place and was struck.This resulted in an Indent error in the new coin in the shape of the coin that had not exited the press fully. You can see by the shape and size of the indent that the new penny was only just caught up in the minting of the second coin. We can tell the coin that didn't escape quickly enough was a struck penny as you can see a partial brockage imprint of it (more clearly) in the close-up below. You can see incuse denticles and the NY of penny in the indent space - this is the partial brockage. Sometimes you can get indent errors that have been indented with unstruck or blank coins and the indent space shows no design.

If this were a manufactured "in the back shed" error or post mint damage then you would see obliteration on the reverse of the penny behind where the indent occured which is not the case in this genuine mint error coin. It's a lovely choice uncirculated example.

We've spoken before about indent errors and they can have many forms. This is probably the more common (but still rare), more so that the one in our first entry Australian Indent Errors that was a $1 indented with a blank 5c (a whole different denomination) when 2 blanks had been fed into the press simultaneously, which is very rare.

Closeup of the Indent Showing Partial Brockage

In what can only be good news to collectors of world (non US) coins NGC has launched a comprehensive (and free) world coin price guide. NGC (Numismatic Guaranty Corporation) is one of the big two third party grading companies (the other being PCGS) and has long had a better reputation for the grading of world coins. While this may have slipped in the last year or so as PCGS stepped up their world coin grading services they still clearly have a lot of knowledge outside of the US coin market.

The NGC World Coin price guide is an extremely valuable resource and as far as we can tell provides a pretty reasonable alternative to lugging around phone book sized copies of the various editions of Krause Publications "Standard Catalog of World Coins". It allows users to select coins by country, region within the country, and then denomination and year. Easier than this is a Search by Coin feature that allows you to type in a country, year and denomination. Some web-wizardry tries to match your search terms with coins in their database and then lists up alternatives you can select. We found this extremely easy to use and by far the easiest way of locating a particular coin.

The coins themselves are then split by Krause numbers (for example KM#1) which can then be selected and you will be presented with a mintage for each year of the Krause Number and a price guide based on coin grade. Grades use the Sheldon grading system so you'll have to have a working knowledge of that to make any real sense of the values. We should comment quickly on the values themselves, just like Krause they are a little hit and miss. The Australian coin prices seemed fairly reasonable with the odd coin being just 1/3-1/2 of the prices suggested in McDonalds Australian Coin and Banknotes Catalogue, but the values presented in that tome are often inaccurate too so we won't hold anything against NGC. A quick scan of prices for other world coins such as British West Africa and South Africa showed a similar under-valuation.

Regardless of the accuracy of the suggested prices this new guide is amazingly useful, with mintage information being very useful to get an idea of relative scarcity. The values themselves can also easily be compared to each other within the same country to also get an idea of scarcity. Certainly the collector at a coin show or in a coin shop with a web-enabled phone or tablet computer would do well to save the price guide link to their bookmarks for quick reference if they spot a potential bargain! A highly recommended tool.

Have you been wondering how big PCGS is? The Professional Coin Grading Service based in California USA offers a grading and slabbing service for a fee. This practice is becoming more and more popular here in Australia with many collectors turning to PCGS graded coins for peace of mind when buying over the internet or other avenues when it's not always possible to view the coin in hand.

We quite often refer to the PCGS population report to find individual information about how many of a particular coin have been slabbed and the grades achieved. Another important page on the PCGS website is the statistics page which gives readers an overview of factual information about what has been graded and the process of grading -keep in mind these are global numbers. This page shows statistics on the total number of coins graded by PCGS to date and also lets us know the number of coins that have been given no grades due to outside factors such as cleaning or damage. This page also shows us PCGS warranty payouts in quantity and value. It's also a great reference for those submitting coins to PCGS for what the actual turnaround times are based on their estimated times.

These pages are really handy reference tools and if you really want to get tricky you can view collectors registry sets to see who has put together a series of coins and their grades!

A typical "found in the pokies grade" Mule

Until now the year 2000 Australian $1 mule with the 10c obverse have traded quite commonly over eBay and public auctions without much discussion about their grade. Most of these coins have been found by coin noodlers who troll through dollar coins at gaming venues and casinos or obtain bulk coin from their bank or get lucky and are given one in change at the newsagent or supermarket and have been well circulated.

They occured when the Royal Australian Mint mistakenly paired up the heads (obverse) die of the 10c piece (ever so slighlty smaller) and struck mob of roos aluminium bronze one dollar coins for circulation. Is this an error or variety? No it's a mule! This question is very commonly talked about between numismatic folk and on coin forums with each having their own opinions. Never the less, it is a coin that wasn't meant to be struck and is highly sought with an estimated 6,000-7,000 coins in existence, often fetching around $500 each.

Great news for collectors is that PCGS, the Professional Coin Grading Service in America has recently recognised the 2000 mule and are slabbing them as a variety.

At the time of writing this article there have been 34 mules graded by this service with just 6 grading mint state or uncirculated. There is however an unfortunate error in their description "2000 $1 Mule-Stuck w/10C Obv" (pcgs number 506638).

• AU50 pop. 6 coins
• AU53 pop. 1 coins
• AU55 pop. 13 coins
• AU58 pop. 8 coins
• MS62 pop. 4 coins
• MS63 pop. 2 coins

Given these mules now have real grades assigned to each coin it will be interesting to see how prices evolve as it can be more easily determined which coin is better, rather than purchasing a "found in circulation" grade coin.