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Replies: 8 / Views: 550 |
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New Member
Australia
10 Posts |
Circulating coinage issued for the Australian territory of New Guinea is commonly collected by date as a set of 11 coins: shillings (1935, 1936, 1938, 1945) sixpences (1935, 1943) threepences (1935, 1944) pennies (1936, 1938, 1944) Whilst these coins have been discussed elsewhere in this forum ( http://goccf.com/t/78590 ), I feel the non-circulating coinage issued for the territory, the halfpenny and penny of 1929, would benefit from dedicated discussion. These coins are significant in that they were not only the first perforated coins struck at the Melbourne branch of The Royal Mint, but also the first cupro-nickel coins stuck there. As for why the coins never circulated... story goes that after the mint struck, issued, and shipped 48,000 pennies and 24,000 halfpennies to New Guinea a fatal flaw in their design was pointed out: the coins were the same size as Australian sixpences and shillings, and if the coins were released into circulation it would no longer be possible to trust whether a roll of sixpences or shillings contained a few halfpennies or pennies. The coins were never released into circulation and, subsequently, returned to Melbourne Mint where all but 400 of each were made available to collectors for 1 shililng a pair. On this basis, I had presumed the 1929 coins made available to collectors came from the returned mintage of business strikes intended for circulation. But then, why are some 1929 halfpennies and pennies commonly designated as 'proof-like uncirculated' or plainly 'proof' coins? A look at US third-party grading services adds more confusion, with cupro-nickel business strikes (MS labels) being far less commonly attributed than cupro-nickel proof strikes (PR/PF label). PCGS even recognises two separate proof strikes, nickel and cupro-nickel. So, are there really proof strikes in nickel and cupro-nickel that are distinct from strikes intended for circulation? Or, is this just a case of inconsistencies in marketing / grading? I am tentative to make an acquisition without knowing exactly what I am acquiring! Edited by apoda 10/21/2022 01:28 am
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Moderator

Australia
15075 Posts |
My source for the following material is the book "From Cowrie to Kina", the definitive guidebook of PNG numismatics,written by Bill Mira in 1986. Quote: The coins were never released into circulation and, subsequently, returned to Melbourne Mint where all but 400 of each were made available to collectors for 1 shililng a pair. You have that backwards, I'm afraid: the entire mintage, except for 400 pairs, was destroyed. So the "effective mintage" for each coin is just 400. Well, it's actually "405" for the halfpennies; when they did the stocktake, two of them were apparently missing from the box when the coins were finally returned to the Melbourne Mint in 1934. Presumably some bureaucrat back in New Guinea had pilfered them. Plus, the Mint also apparently sold three halfpennies as single coins. And as far as I can tell, proof versions of these coins (in the conventional sense of the word "proof") were never struck.There's certainly no record of any proof dies being produced. Bill MIra illustrates a "proof 1929 halfpenny", but makes no other mention of their existence in the book. I suspect that the "400 released for collectors" does not include the various presentation pieces: eight of each denomination were made, and distributed to various officials for final approval - including the Administrator of New Guinea, who does not seem to have noticed at the time that the proposed new coins were of an inappropriate size. I don't think they recorded the fate of all of these presentation pieces, but I suspect they were kept by their recipients, and that these are the "proofs" that are recorded. Quote: PCGS even recognises two separate proof strikes, nickel and cupro-nickel.
So, are there really proof strikes in nickel and cupro-nickel that are distinct from strikes intended for circulation? Or, is this just a case of inconsistencies in marketing / grading? There is mention made in the book of numerous off-metal strikes, regarded as trial strikes. Most of these are copper, and there's one in silver; there's no mention of a pure nickel striking, and none of these off-metal trial strikes should have left the Mint. Personally, I wouldn't trust PCGS to properly recognize and attribute New Guinea "proof" coins. The American TPGs have harmed their reputation in this country by designating the existence of "proofs" in the Australian predecimal series, for years when no such proofs were ever minted.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Bedrock of the Community
Australia
20716 Posts |
I also have a copy of "From Cowrie to Kina" by Bill Mira.
I also share Sap's lack of trust in PCGS to properly recognize and attribute the New Guinea Pennies and Half Pennies of 1929. I do not know of any record that specifically mentions the official existence of proof versions of these coins.
With only 400 coins produced from each pair of dies, there would no noticeable die wear, and so the fields of all 1929 Pennies and Half Pennies should be exceptionally clean, and that could lean towards the wrong assumption that the best examples could be identified as proofs.
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Although reasonably easy to achieve, it is nevertheless satisfying to assemble a complete set of all of the pre decimal coins in that did circulate, in MS condition.
The .925 Shillings closely resemble the Pennies and Half Pennies in design. and were partially hoarded onto large strings by the local population, which explains why they are now found in high average condition.
Edited by sel_69l 10/21/2022 06:44 am
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Moderator

Australia
15075 Posts |
Quote: With only 400 coins produced from each pair of dies, there would no noticeable die wear, and so the fields of all 1929 Pennies and Half Pennies should be exceptionally clean, and that could lean towards the wrong assumption that they could be identified as proofs. Well, no. 48,000 pennies were actually struck from the dies, and 24,000 halfpennies. They made them, then destroyed most of them. I don't think they'd have been particularly careful about choosing perfect, "first strike" or above-average examples when they picked out the 400 coin subsets, so long as they weren't obviously defective they probably would have passed. The eight presentation specimens would have been pristine and probably prooflike, assuming they were included in the total survivors. As for die wear etc, it really depends how much trial and error had been undertaken, and whether they had sought and obtained advice from head office in London. As noted by the OP, Melbourne had never struck cupronickel coins before, so had no first-hand experience on the extra die wear caused by cupronickel, but by 1929 London had struck plenty of cupronickel coins for the other colonies.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Bedrock of the Community
Australia
20716 Posts |
My error. Original mintages of 48,000 and 24,000 as stated by apoda.
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Pillar of the Community
Australia
2139 Posts |
Quote:
Personally, I wouldn't trust PCGS to properly recognize and attribute New Guinea "proof" coins.
Very much this - besides From Cowrie to Kina, I don't know of any decent reference book the coins of New Guinea: probably they're working from a copy of Krause which says proofs were struck (though on what basis who knows).
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New Member
Australia
10 Posts |
Quote: probably they're working from a copy of Krause which says proofs were struck (though on what basis who knows) Yes, I suspect you are right. The 2019 Standard Catalog of World Coins 1901-2000 (46th Edition) by Krause Publications lists both 'copper-nickel' and 'nickel' proofs separately, but without indicating mintage. The same information appears in the 2006 (33rd) edition. The 2001 (28th) edition is otherwise the same, expect nickel proofs are listed as having a mintage of 20 each. Information on the PCGS website matches this earlier edition of the Krause catalogue. It seems rather odd that the mintage of nickel proofs was removed from this catalogue between 2001 and 2006. Perhaps a lack of confidence in the stated mintage or existence of nickel proofs? I'd be curious to learn what is listed in an earlier edition of Krause if anyone has such a copy.
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Valued Member
Australia
332 Posts |
My 1983 Krause lists 1929 copper nickel proofs with no mintage and lists Nickel(OMS)(off metal strikes) proofs with a mintage of 20 each.
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New Member
Australia
10 Posts |
airgem - thanks for having a look! Interesting that the nickel proofs were specifically designated as an off-metal strike in the early-1980s by Krause. This pre-dates Bill Mira's From Cowrie to Kina (1986), and as Sap mentioned: Quote: There is mention made in [Bill Mira's] book of numerous off-metal strikes, regarded as trial strikes. Most of these are copper, and there's one in silver; there's no mention of a pure nickel striking, and none of these off-metal trial strikes should have left the Mint. This would seem to encompass any pure nickel strikes, even if there was no specific mention of such a striking; however, to assume there were pure nickel strikes gives rise to a further question: where did the nickel planchets come from? I am somewhat skeptical the Melbourne Mint would have gone through the trouble of smelting, refining, and annealing a base metal like nickel to then punch planchets and strike only 20 pennies and 20 halfpennies as trials or specimens. Then again, the Kookaburra patterns suggest otherwise; I believe there was at least one type comprised of 98% nickel and 2% tin.
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