1924 Australian Penny

Description

PENNY

Early Australian coins and banknotes are amongst the most collectible in the world today.

Pre-decimal, colonial, tokens, and other early issue coins and notes were often very low mintage, due to the low population of Australia. 

The soft metals used in early coins wore easily and the value of the silver saw many coins melted for bullion.

The conversion to decimal in the 1960’s also saw most coins and notes taken out of circulation, resulting in a low survival rate for coins and notes in collectible condition.

Prior to 1910, Australia’s official currency was United Kingdom coinage, although in earlier years several currencies circulated within Australia, which at the time was a collection of British colonies. The Australian threepence, sixpence, shilling, and florin were introduced in 1910, the halfpenny and penny in 1911, and the crown in 1937, replacing their United Kingdom predecessors.

The first Australian post-federation coinage was minted in 1910.

Pre-decimal currency was used from 1910 to 1964, based on the United Kingdom’s monetary system, with the same denominations and relative values.

1 penny = 1/12 of a shilling = 1/240 of a pound

The Australian pre-decimal coin era refers to the period between federation and decimilisation.

This effectively relates to coins minted between 1910 and 1964.

Prior, Australian coinage was a collection of currencies from around the world, however leading up to federation, was primarily British.

The six British colonies in Australia were declared an independent nation in 1901, (federation), however ‘The Commonwealth of Australia’, remained part of the British Empire as a Constitutional Monarchy.

The first coins produced specifically for The Commonwealth of Australia, (threepence, sixpence, shilling, florin), were minted in 1910 in London.

Decimal era Australian coins and notes are much more common and sturdy, however are collectible due to intricate design and relatability to recent history, with several denominations frequently produced in commemorative issues for circulation.

Uncirculated collector coins are also very popular in Australia, often manufactured from precious metals and in limited mintage to create inherant value, generally themed individually, or as part of a series, again to appeal to collectors.

The Australian pre-decimal period spanned the reign of five monarchs between 1910 and 1964:

• King Edward VII from 1901 to 1910.
• King George V from 1910 to 1936.
• King Edward VIII in 1936, (no circulation coins minted).
• King George VI from 1936 to 1952.
• Queen Elizabeth II from 1952 to present.

The last pre-decimal coins were manufactured dated 1964, prior to Australia’s conversion to decimal currency in 1966: ‘Decimilisation’.

The first Australian penny was minted in 1911.

 

 

The penny ran until 1964, when Australia stopped minting pre-decimal coins in preparation for decimilisation.

 

The Australian penny obverse features the United Kingdom monarch of the time.

 

The ‘Commonwealth of Australia’ reverse was used in earlier years, (1911 to 1936), prior to the introduction of the ‘kangaroo reverse’ in 1938. (1938 to 1964).

 

Before 1910 United Kingdom currency was the official legal tender of Australia.

 

1 penny = 1/12 of a shilling = 1/240 of a pound

 

Dates not minted: 1910, 1937, 1954