Exceedingly Rare Australian 'London Die' Proof 1966 20c & Other Collectables

Payment

Shipping

AUSTRALIA :

Purchases within Australia will be charged a MINIMUM SHIPPING FEE of $10.00 and will be sent by Registered Post.

Additional insurance is optional at the buyer's expense.

Larger lots may incur an additional charge.

OVERSEAS :

Overseas purchases will be charged a MINIMUM SHIPPING FEE of $35.00 and will be sent by standard International Post.

Additional insurance is optional at the buyer's expense

Larger lots may incur an additional charge.

If we are unsure of the bona fides of a successful bidder we may request identification such as a Passport Photo or Drivers's Licence that matches the Credit Card details registered with Invaluable before we despatch an item.

Both Australian and International packages are traceable in transit and may require a signature on delivery.

Welcome to Smalls Auctions Sale 218. It seems we certainly set the cat amongst the pigeons when we were asked recently to comment on Morning TV about the booming Coloured $2 coin market that is the latest craze in coin collecting. Ponzi Schemes inevitably fail, and we simply pointed out that relatively common modern coin issues quickly fall from grace when the hype subsides, and the new buyers dry up. If you are buying coins at multiples of the issue price shortly after their release it is not because of demand but because of market manipulation, and the long-established track record is that you are likely to lose out long-term if you are the last holder. A very high percentage of modern issues that we offer through our sales are a fraction - not a multiple - of the original issue price unless they are underpinned by an intrinsic value bolstered by the rising gold and silver prices. This would intimate that base-metal $2 coins face a bleak future long-term regardless of their colour. Just saying! Both the Royal Australian Mint and the Perth Mint tailor the mintages of new issues so that registered dealers and customers on their large mail lists are left wanting – but have no fear there is a new manufactured rarity coming as early as next week or as soon as the marketing departments can thumb though their almanacs looking for some obscure anniversary to celebrate. For a country with such a short history Australia certainly finds plenty to commemorate pitting us against numismatic powerhouses like the Marshall Islands and the Isle of Man in terms of output. That is not to say that there are not scarce or rare modern coin issues, but the test is to determine which coins have survived in small numbers by pure chance and not because of the mintages being manipulated by marketing executives at the mints. In our Sale we have such a rarity on offer. The Australian 1966 'London Die' Polished Proof 20c in PCGS PR63 CAM is the only example in private hands of a 1966 Proof 20c prepared on London dies. It comes with a 'Letter of Authenticity' from the Royal Australia Mint, and we have also included a 'Canberra' 1966 Proof 20c graded PCGS PR68 DCAM and a 'polished' Proof of a Great Britain 1971 10 New Pence for comparison purposes. The 1919 M Shilling holds the mantle as the rarest Australian coin struck with no coins minted for circulation and just two confirmed ‘patterns’ known, one held in the Science Museum of Victoria and the other in private hands having been traded numerous times since it was sold off by the Deputy Master of the Melbourne Mint A.M. Le Souef back in the 1920’s. Of course, there were 30 million ‘London Die’ 1966 20c coins struck for circulation but how many proofs were made? In 1990 a collector noticed in his collection this strange Australian 1966 Proof 20c like no other and, perhaps suspecting that he had been sold a 'dud', sent it off to the Royal Australian Mint (RAM) Canberra for their 'expert' opinion. After carefully examining the coin, the Mint declared it a genuine Proof 20c coin but, not the typical 'Canberra' struck proof of which 18,110 were made to be included in the inaugural 1966 Australian Decimal Proof sets, but a 'London' struck proof which matched the sole example the Mint held in its collection. Mr R Gardiner, the Quality Manager at the RAM, wrote that "the coin you have submitted has been examined in the Mint laboratories (and) matches the characteristics of a genuine 20 cent Australian coin with the exception of mass which is below specification. However, the mass is similar to that of a 1966 Proof London 20 cent which is held in the Mint Museum." This weight difference can also be observed in the circulating 'Canberra' and 'London' 20c coins. However, if the RAM had examined the coin more closely it would have discovered other marked differences. Following tradition, the RAM, as the lead mint in producing Australia's 1966 coinage did not feel it necessary to distinguish its production with a mint mark, and so it was left to the Royal Mint (RM) in the unusual role as a sub-contractor to employ a deliberate 'marker' to separate its production from Canberra's. If you look closely the 'London' struck coin is typified by having only 'one' eyelash on the Queen's effigy whereas the 'Canberra' coin has two. As well, the effigy on the RM Proof when measured from the tip of the Crown to the truncation is smaller (24mm) than on the RAM Proof (25mm) and so sits further from the perimeter of the coin. Interestingly, the 'Machin' portrait of Queen Elizabeth II first used on the corresponding British 10 'new pence' coins of 1971 also measures 24mm and also has 'one' eyelash (albeit lightly struck) suggesting that the RM called on the same master obverse die that it used 5 years earlier on the Australian coin. And, even to the naked eye the RAM Proof 20c has heavy frosting on the raised designs against a 'mirrored blank', whereas the RM Proof has no significant two-tone effect with only minimal frosting of the highlights on a 'polished blank', very reminiscent of coins in British Proof sets of the era. How this 'London' Proof 20c coin made it into private hands is not known but, as it is usually best practice for museum collections to hold at least two specimens of a coin so that the obverse and reverse can be simultaneously displayed, the admission that 'a similar coin is held by the Mint' may hint at its source. It has been speculated that perhaps the coin made its way out of the RAM collection when it was 'gifted' to the notorious coin forger David Allan Gee who had unfettered access to the Royal Australian Mint Collection in the 1970s. Gee financed his collecting interests by running a string of blue movie houses which were known to have been frequented by many influential people. This may explain his Svengali-like hold over James Henderson, the Controller of the Royal Australian Mint, who although aware of Gee’s unsavoury sideline still considered him a close confidant. Henderson was known to have 'gifted' important coins and banknotes to Gee from the RAM collection in recognition of professional advice he supposedly provided, and the 1966 'London' polished Proof 20c coin could well be one such coin. What is certain is the Royal Australian Mint laid no claim to the coin in 1990 when it was sent in for verification, and so this 'museum' piece remains in the public domain. It is more than likely that the Royal Mint London also holds at least a couple of examples, but regardless, the mintage would constitute just a handful with the coin on offer being the only example in private hands. In that respect it sits alongside the 1919 M Shilling at the pinnacle of rarity in Australian coins - and it is a modern-era base-metal issue to boot. Go figure! Smalls Auctions

Buyer's Premium
$0-99: 20.0%
$100-499: 20.0%
$500-999: 20.0%
$1,000-4,999: 20.0%
$5,000+: 20.0%

Conditions of Sale

VAT and taxes: The Buyer's Premium is inclusive of the Australian G(oods) & S(ervices T(ax) incurred by our service.

Shipping Terms: AUSTRALIA :

Purchases within Australia will be charged a MINIMUM SHIPPING FEE of $10.00 and will be sent by Registered Post.

Additional insurance is optional at the buyer's expense.

Larger lots may incur an additional charge.

OVERSEAS :

Overseas purchases will be charged a MINIMUM SHIPPING FEE of $35.00 and will be sent by standard International Post.

Additional insurance is optional at the buyer's expense

Larger lots may incur an additional charge.

If we are unsure of the bona fides of a successful bidder we may request identification such as a Passport Photo or Drivers's Licence that matches the Credit Card details registered with Invaluable before we despatch an item.

Both Australian and International packages are traceable in transit and may require a signature on delivery.

Buyers Premium: All purchases are subject to an all inclusive 20.0 % Buyer's Premium on the hammer price.

Tax Details: Taxes, Duties and Customs Charges that apply in the country of delivery are the express responsibility of the buyer.

Please notify us if you require a specific description on the outside of the package for customs purposes.