The 1931 Penny was stuck at the Melbourne Mint with a total mintage of 494,000. This was one of the lowest mintage figures of the series and as a result the type is relatively expensive for the series across all grades. In mint-state it would be a challenge for collectors to find an example below a thousand dollars.
It has been discovered that there are four varieties of the year. The varieties have emerged from a combination of two different obverse dies (London and Calcutta) and two different reverse dies (London and Birmingham). The London reverse can be identified by the second '1' in the date being misaligned meaning it appears straight and doesn't seem to properly follow the rounding of the coin (see below). The Birmingham reverse can be identified by the normal alignment of the second '1' in the date (see below).
The two obverse varieties are hard to differentiate but the London die features 177 beads and the Calcutta die features 178. In his comprehensive article Paul Holland notes that if the final stroke of the 'N' of 'OMN' is aligned between the border beads then its an English die.(Paul Holland, 2009)
MintageMintageMintageValues are in AUD and are retail price estimations based on past sales of coins certified by PCGS or NGC and as such values only related to such graded coins. Uncertified coins or coins graded by other services would likely be worth significantly less. For wholesale pricing please refer to the Red Sheet. While all attempts to ensure accurate pricing, data entry errors can occur and as such no warranty is expressed or implied as to the accuracy of any information published on this website. It is important to verify all published sales to ensure the accuracy of the pricing when making any purchase decision. Any personal information provided to us is protected by the Privacy Act 1988.