RARE CHANGE / COINS / PLATE 06 · 1D · 1931 · MELBOURNE MINT
1931 penny, and what it's worth
The Australian King George V penny dated 1931 on the reverse, in any of its four die pairings: Indian or London obverse, with a normal or a dropped final 1 in the date.
A genuine one, worn
$2,700
Middle half of sales $2,025 to $3,150. Lowest $1,100, highest $5,500.
Hammer prices (before buyer's fees) from 27 single-item sales at Noble Numismatics and Downies, 2017 to 2025. Updated 30 Oct 2026.
Prices by condition
AUDWorn coins sell for less. Find the row that looks most like yours.
Heavily wornGood to Very Good · 1 sale
Too few sales for a fair price
WornFine · 10 sales
$2,700
Lightly wornVery Fine · 9 sales
$2,000
Barely wornExtremely Fine · 5 sales
$240
Never usedUncirculated · 2 sales
Too few sales for a fair price
Line: lowest to highest sale. Box: the middle half of sales. Dot: the median, half sold for more and half for less.
Recent sales
HammerHow to check yours
Each letter on the drawing marks where to look. A magnifying glass or your phone's zoom helps.
-
Check A: Does the final 1 of 1931 sit lower than the 9 and the 3?
Reverse, the last digit of the date- YES
- The last 1 is set noticeably low, its foot below the line of the other digits.
- NO
- All four digits sit level on the same line.
-
Check B: Does the last upright stroke of the N in OMN point straight at a rim bead?
Obverse (King's side), the letter N in OMN in the legend and the beads around the rim just outside it- YES
- The final stroke of the N lines up with a bead. This is the Indian (Calcutta) obverse die, which has 178 rim beads.
- NO
- The final stroke of the N points into the gap between two beads. This is the London (English) obverse die, which has 177 rim beads.
The free photo checker is on its way.
Record
- Face value
- 1d
- Year
- 1931
- Mint
- Melbourne Mint
- 1931 pennies were struck with both the Indian and the London obverse dies. [2][4]
- Some of the 1931 varieties came from trial runs of pennies at the Melbourne Mint. [1][7]
- The Indian obverse die has 178 rim beads. [4][7]
- The dropped 1 date paired with the Indian obverse is a rare combination. [2][4]
- The George V portrait is by Bertram Mackennal and the lettered reverse design is by W. H. J. Blakemore. [1][7]
Questions
How much is a 1931 penny worth?
A genuine 1931 penny in worn condition (Fine) has typically sold for $2,700 at Australian auctions, with the middle half of sales between $2,025 and $3,150. Better-preserved examples sell for more.
How do I know if my 1931 penny is genuine?
Work through the checks above. They cover what genuine examples show and what altered or different versions don't. A photo can't prove a coin or note is genuine, so for a valuable find, ask a professional numismatist or a grading service before you sell.
Should I clean it?
No. Cleaning leaves fine scratches that collectors spot at once, and cleaned coins and notes sell for much less. Keep it as it is, in a paper envelope or a coin holder.
Sources
Every fact on this page comes from at least two independent sources. Prices come from our own record of auction results.
- Penny (Australian coin), read 29 Oct 2026
- Sterling & Currency: 1931 Penny Dropped 1 London Obverse Unc (PCGS MS62BN), read 29 Oct 2026
- Drake Sterling: Indian and London (English) penny obverses, read 29 Oct 2026
- Drake Sterling: Australia 1931 Dropped 1 Penny with Indian obverse, read 29 Oct 2026
- Drake Sterling: Australia 1931 Dropped "1" Penny with Indian obverse - PCGS VF30, read 29 Oct 2026
- Benchmark Catalogue: Australia 1931 Penny ('Dropped 1' in Date), English obverse, read 29 Oct 2026
- Benchmark Catalogue: Australia 1931 Penny (Indian Obverse), read 29 Oct 2026