Watch List notes:

AUSTRALIA. Penny, 1916-I. Calcutta Mint. PCGS SPECIMEN-64+ Red Brown Gold Shield.
KM-23. The only example at this grade for finest certified at PCGS only surpassed by a single example on the NGC population (PR 65 BN). A lovely example with a nearly complete original mint red, a blazing and attractive piece sure excite the connoisseur of Australian or British Colonial.

The interesting Calcutta mint Australian pennies of 1916-1918 came about for a variety of reasons. While there were certainly mints within Australia, none at the time had the proper equipment or die-making capabilities which would have been necessary. The Royal mint at London would have normally stood in for this demand, but it was already at capacity due to an increased need for copper coinage domestically. The use of the tram and the popularity of beer drinking in pubs caused a great need for this small change, and there was simply no ability to provide Australia with the same. The Royal mint's branch in Ottawa, Canada certainly had the means to stand in, but its location, literally on the other side of the world, meant that a massive amount of coinage would then need to be shipped to Australia. When one factors in contemporary events-namely World War I-the constant threat posed by Germany and her unrestricted submarine warfare made the prospects of shipping anything through that theater a huge risk. As such, Calcutta-not officially a branch of the Royal mint, but beyond capable-was tasked with the charge, creating dies and then striking the coins themselves, easily transporting them from India to Australia.

Detailed study by numismatists focused in the area of British Indian have concluded that a special subset of these 1916 issues were struck at an archival standard, with exceptional brilliance and a refined nature. This VERY RARE output was produced prior to the bulk issue of the coinage, with very few examples recognized and making their way to the marketplace. The present specimen is one such representation, offering a glimpse into this rather chaotic period, when a mint within the empire came to the rescue of a member of the commonwealth.

Ex: Fenton Collection.

Estimate: $6000 - $9000