Penny 1931 Dropped 1 Indian Die Variety Rare!!

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Author	Replies: 9 / Views: 9,378
madaboutmoney New Member Australia 2 Posts	Posted 04/08/2011 12:52 am I was just loooking on ebay and stumbled across this, Penny 1931 Dropped 1 Indian Die Variety RARE!! item no.(150588372225) Just how rare are these coins? has anyone else got one? what do the sell for? Thankyou Report this Post to the Staff

ikandiggit Pillar of the Community Canada 1166 Posts	Posted 04/08/2011 01:10 am Welcome to the forum. I checked the net and some in this condition run around $200. As for rarity, can't help you there. Report this Post to the Staff
DVCollector Bedrock of the Community United States 10045 Posts	Posted 04/08/2011 01:17 am Hmm...I've looked on ebay for that coin. The obverse sure looks to be "Indian". Report this Post to the Staff
madaboutmoney New Member Australia 2 Posts	Posted 04/08/2011 02:52 am Thanks for the replies, ikandiggit are you sure we are looking at the same coin or am I mistaken becasue I found this website: http://www.australianstamp.com/coin...1931penn.htm and they had this to say: Misaligned (dropped) figure 1 in date on reverse - Indian die. Only 10 to 20 examples exist. A recut 1930 reverse die is believed to have been used to create this rarity. For the serious collector, this is one of the most challenging Australian numismatic items to obtain. (Value: $2,000 - Fine, 1997 $2,350 - V.Fine, 1999) The 1 on the coin is definitely dropped and it is definitely an Indian die, so do these as a combination make it rare and expensive.. i am a bit of a novice and sort of new to collecting, what I'm getting at, will this be good for collection? Report this Post to the Staff
ikandiggit Pillar of the Community Canada 1166 Posts	Posted 04/08/2011 08:25 am here's the link: http://www.coins-and-banknotes.com....ucts_id=1908 Report this Post to the Staff
DVCollector Bedrock of the Community United States 10045 Posts	Posted 04/08/2011 12:05 pm Ikandiggit, the coin you linked is indeed a dropped-1, but the obverse is the London type, not the Calcutta obverse. Report this Post to the Staff
ikandiggit Pillar of the Community Canada 1166 Posts	Posted 04/08/2011 3:53 pm Quote: Ikandiggit, the coin you linked is indeed a dropped-1, but the obverse is the London type, not the Calcutta obverse. Ahhhh.....Thanks for pointing that out! That's what I get for posting while still half asleep. Report this Post to the Staff
thesandpit Valued Member 119 Posts	Posted 04/08/2011 4:44 pm Quote: Thanks for the replies, ikandiggit are you sure we are looking at the same coin or am I mistaken becasue I found this website: http://www.australianstamp.com/coin...1931penn.htm and they had this to say: Misaligned (dropped) figure 1 in date on reverse - Indian die. Only 10 to 20 examples exist. A recut 1930 reverse die is believed to have been used to create this rarity. For the serious collector, this is one of the most challenging Australian numismatic items to obtain. (Value: $2,000 - Fine, 1997 $2,350 - V.Fine, 1999) The 1 on the coin is definitely dropped and it is definitely an Indian die, so do these as a combination make it rare and expensive.. i am a bit of a novice and sort of new to collecting, what I'm getting at, will this be good for collection? A recut 1930 penny reverse.... etc. That is not possible as the 1930 penny has curved base lettering and the 1931 dropped 1 reverse has flat base lettering. There are also much more than 10 to 20 in existence, more likely in the hundreds (still a rare coin though). It is known that there were fewer than 1000 minted. See the entry on this on Mike Locke's website http://www.calgoldcoin.com/ Report this Post to the Staff
nealeffendi Pillar of the Community Australia 852 Posts	Posted 04/11/2011 6:56 pm The dropped 1 Indian is rare to very rare. Bob Roberts (Wynyard coins) has sold more than 20 of them over the years. There are probably more than 50 known specimens (and more that collectors have without realizing it). The best I ever saw was EF and sold for $18000 (IIRC) about 2004 here in Sydney. Basic well circulated ones(aF) sell for $2000 up and nicer ones (VF) are over $5000. Report this Post to the Staff
Peter THOMAS Pillar of the Community Australia 2830 Posts	Posted 04/14/2011 3:38 pm the original post refers to a coin being auctioned on the 'net: that auction was completed yesterday - AU $2,738.09 [ 37 bids ] so, there is plenty of interest in this rare coin. Peter Report this Post to the Staff
	Replies: 9 / Views: 9,378

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