Coinworks has just sold the Proof 1923 Halfpenny for a world record price of $500,000. The only proof example of Australia’s rarest halfpenny available to collectors, the iconic copper was quickly snapped up by a prominent Sydney family.

Coinworks director Belinda Downie, a Melbourne-based rare coin dealer said,”Top coins have always done well, what recessions do is they make people look for alternatives.”

The proof 1923 halfpenny just sold was purchased over a decade ago for $89,100.

CoinWorks is currently offering the Le Souef Specimen of The 1930 Australian penny, considered the best of the proofs and one that was originally handpicked by the mint’s deputy master, A M Le Souef, for his private collection. The penny, owned by an Australian businessman, has just come onto the market this week after nine years.

The Proof 1930 Penny is legendary. Belinda Downie commented that “Over the years it’s been referred to as the king of rarities,” she said. “It is simply a phenomenal coin in an exceptional state of preservation.”

Le Souef was Deputy Master of the Melbourne. His personal coin collection was remarkable, each piece exceptionally rare and of the highest historical significance. A portion of his collection was acquired by The Melbourne Mint Museum, the balance purchased by renowned Adelaide collector, Syd Hagley. The names Le Souef & Hagley are two of the most compelling in the Australian numismatic industry.

The coin is one of just six proofs struck at the Melbourne Mint, and one of three which remain in private hands.
Those held in institutional collections include: the British Museum, the Museum of Victoria and the Art Gallery of South Australia. The three examples currently held in private collections: Sydney Collection (ex British Museum specimen), Sydney Collection (ex Melbourne Mint specimen), and this coin, the Le Souef & Hagley specimen.

The asking price is reported to be $2 Million.

The pedigree of this Proof 1930 Penny is: A. M. Le Souef (Deputy Master Melbourne Mint), Syd V. Hagley, Dr Curtis Paxman, Dr A. Dobbin and Mr Doug Moran.

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