Price action: high grade ’37 crowns

Under appreciated Australian?

An article in ‘Australasian Coin & Banknote magazine (Feb, 2022)’ stated that a 1937 Australian crown sold at auction for a record price, some A$1,220.

Now that’s very interesting and not least because the estimate was A$150 which suggests that the coin in question was assessed as probably in a low uncirculated grade, say MS61-62 or so.

Well, maybe it was an underpriced ‘Choice Unc’ – unfortunately the magazine had no photo and, frankly, I’m just speculating – however someone figured it was scarce enough to be a bargain at nearly 9x the asking price!

Reappraisal

In any case, it’s good news for a coin often regarded as relatively undesirable, given the scarcity and associated value of the 1938 version.

Also, that auction result does fit with some other bits gleaned from online coin forum discussions of ’37 crowns, specifically that the mintage of 1 million does not correlate well with the survival rate.

A lot of older and more experienced collectors hold the opinion that whilst ’37s in grades up to and including aUnc are not hard to come by, examples in Unc or better are increasingly harder to get and there may actually be a lot less than is commonly thought.

Certainly it’s true that, as a large .925 silver coin, they are often quickly consigned to the melting pot when the silver price jumps – 1946, 1968, 1974, 1980 all spring to mind as occasions when these coins may have met their ultimate end.

Condition is paramount

So at the moment I’d say that if you’re lucky and/or smart enough to have an Unc ’37, then hang on to it – make sure it’s in that grade, though, at the least it ought to have a full cross on the orb and few, if any, triangular bag marks. That cuts out a whole heap, a lot are offered as Unc, but close inspection reveals blunted and worn orbs which means, for me, they don’t make the grade…I reckon the one in the photos is close…

Happy Collecting!


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