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Blue Sheet > Australia> Commonwealth Coinage> One Penny> George V > 1934 Proof Penny

1934 Proof Penny


The 1934 proof penny was issued along side the other 1934 denominations at the request of New Zealand dealer H. G. Williams (Verheyen, T, V, 2009). A total of 50 pieces of each denomination were ordered (Verheyen, T, V, 2009) which is believed to be the entire mintage figure, most of which were sold to American collectors.

The coin is best characterized by an intense mirror finish on the reverse and a mirror obverse finish with a bright, glowing relief though this may be lost to toning. Unlike the 1935 proof penny (Learn more about the 1935 Proof Penny), the 1934 proof penny is rarely found with full original mint brilliance and while some attribute this to the distribution method of the coin, an advertisement by New Zealand dealer H. G. Williams for both the 1934 set and 1935 copper pair list the 1935 pairs as having full golden color while no mention of color was made for the 1934 copper suggesting that they were already slightly toned when initially sold. This can also be explained by the advertisement being made in 1935 making the 1934 sets already a year old when they were first marketed possibly allowing time for some toning.

In addition to the mirror finish, the reverse should be covered in die polishing striations, mostly in up-down and left-right positions though the left-right striations tend to be on a slight angle around the bottom-left of the coin. The obverse fields should be covered in very minute die polishing curls which give it a slightly more matte finish when compared with the reverse.

Interestingly, the top of the crown is almost never struck up, sometimes exhibiting a poorly struck orb and almost always with a flat set of vertical pearls. The illustrations below depict the crowns of two proof 1934 pennies, the first showing a flat set of vertical pearls, the second showing a flat orb and almost non-existent vertical pearls. This is most likely due to the excess die pressure applied to strike up the reverses.

Top of the crown of a pair of 1934 proof penniesTop of the crown of a pair of 1934 proof pennies
Top of the crown of a pair of 1934 proof pennies


One final characteristic of the proof strike is the evenly intense strike with bold lettering throughout. This is especially pronounced on the reverse with an echo of the inner circle apparent just outside of it as in the illustration below due to the intense striking pressure.

Echo of the inner circle on a 1934 proof pennyEcho of the inner circle on a 1934 proof penny
Echo of the inner circle on a 1934 proof penny


The 1934 proof penny is one of the toughest 1934 proof coins to acquire in top condition, despite the equal mintage figure due, to the delicate nature of the bronze alloy, many were destroyed to environmental damage.

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Contents
Mintage
50
Reverse Designer
W. H. J. Blakemore
Obverse Designer
Sir E. B. MacKennel
Size
30.8 mm
Composition
97.00% Copper
2.50% Zinc
0.50% Tin
Bullion Value
7¢
1934 George V Penny
Reverse

1934 George V Penny
Obverse

Valuation
Typical Handled: $15K  
This valuation represents a typical handled example of the coin. Coins in better condition will command a substantial premium over the listed price. For example, an average 1911 florin is worth around $50, but in choice uncirculated condition is worth about $15,000! To view valuations in higher grades, please click here to subscribe.  

Glossary
  • die - A cylindrical punch with an inverted impression of a coin's design used to strike the coin
  • die polishing curls - Small hairline curls on the surface of a coin caused by circular polishing of the die
  • die polishing striations - Raised lines on the surface of a coin caused by abrasive polishing of the die that struck it
  • fields - The open, exposed areas of a coin's design
  • mint brilliance - The original golden-red-orange-pink colour of a copper coin
  • mintage - The number of coins struck of a particular designation
  • obverse - The heads side of the coin
  • proof - A coin struck from specially prepared dies to strike a superior quality coin not intended for circulation
  • reverse - The tails side of the coin

Numismatic Glossary - View the full glossary of numismatic terms.

References
  • Verheyen, T, V, 2009. 'Henry George Williams - A Pioneer in the Commercialization of Australian Pre-decimal Proof Coinage'. The Australasian Coin and Banknote Magazine - Volume 11, Number 11. pp 36-43

References - View full bibliography

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