Australasian Tokens and Coins
Commonwealth Coins
The enormous production of silver by the Broken Hill and other mines in Australia during the ninth decade of last century, concurrently with increased yields in other countries, led to a great depreciation in the value of the metal in the markets of the world. British silver issues, as well as those of other countries, which had nearly always an intrinsic value below that at which they circulated, showed an enormous profit from their manufacture, a fact which Colonial Treasurers did not overlook as a new source of revenue if the Home Authorities could be induced to allow a distinctive silver coinage here. Negotiations were opened by the Governments of both New South Wales and Victoria with the British Government, and after much interchange of documents permission was given in 1898, for the coinage of both silver and bronze at the Mints in Sydney and Melbourne.
At that date the question of Federation overshadowed all others in the minds of Australian politicians, and nothing was done. When Federation became an accomplished fact, in 1900, the Constitution made" currency, coinage, and legal tender” a Federal concern. The first few years after Federation the hands of the Government were full of more important matters, and it was not till 1908, that the Treasurer announced his intention of initiating the coinage of silver in the near future.
The official return for that year showed that the actual cost of 1 lb. of silver, which produced 66 shillings, was but £1 4s. 4½d., leaving a very large margin to meet expenses and repay capital outlay, and the cost of the withdrawal of coin when it became worn. Doubtless this prospective profit strengthened the desire for a distinctive Australian coinage. In 1909, a Bill was passed by the Common- wealth Parliament, which provided that in future the current coins of Australia should be in gold, £5, £2, £1, and ios.; in silver 25s, 1s., 6d., and 3d.; and in bronze or nickel id. and ½d. At the same time permission was given for the coinage of silver and bronze or nickel pieces. All were to be exactly the same size, fineness of alloy, and weight as the British coins of equal face value.
Much discussion followed regarding the design to be adopted, and ultimately it was decided that the obverse should be exactly similar to the corresponding Imperial issue with the King's head and Latin inscription. On the reverse of the silver pieces the Ensigns Armorial of the Commonwealth of Australia, as authorised by the Royal Warrant dated 7th May, 1908, with the value above and the date below.
The bronze pieces have the same obverse, and on the reverse the value in two lines across the centre enclosed in a double linear circle, and the legend, COMMONWEALTH OF AUSTRALIA, with the date.
An arrangement was made with the Imperial Governinent by which, until the coinage could be undertaken in Australia. the necessary supplies should be provided by the Royal Mint in London on account of the Commonwealth Government. Orders were at once given for £200,000 of silver, consisting of 1,000,000 each of florins, shillings, and sixpences, with 2,000,000 of threepences. It was also decided to shortly order £10,000 worth of bronze pieces, viz., 1,560,000 pence and 1,680,000 halfpence.
The first consignment of silver reached Australia early in 1910, and before the end of the year the whole order was met. All the pieces bear the date 1910, and the head of the late lamented King Edward VII. They were distributed through the Melbourne and Sydney Mints. No bronze pieces were made in this year.
In 1911, again, the silver issues were repeated, with the necessary alteration of date, and bearing the head of the present King George V, who had then succeeded to the Throne. The silver issues also were for the first time supplemented by bronze pence and halfpence. All were made at the London Mint.
In later years the assistance of the celebrated firm of Heaton & Sons was secured to supplement the output of the London establishment, as will be noted in the detailed list. The Calcutta Mint also was employed in producing some of the bronze issues. By 1916, alterations at the Melbourne Mint were completed, which enabled the staff there to produce, first shillings in January, florins almost immediately after, sixpences by the middle of the year, and threepences in December. All the issues of silver in that year bear the Melbourne Mint mark - a small M - to indicate their place of origin. From that time all silver coins have issued from that Mint. During the three years 1916, 1917, and 1918, the bronze pieces were procured from Calcutta, and at length, in 1919, the Melbourne Mint produced the whole Commonweath issues, except the half-pence, which were struck in Sydney. The bronze pieces do not bear a Mint mark.
Much work has been done in Melbourne with a view of producing a smaller and handier coin than the bronze, either of nickel or other light metal, but no definite decision has yet been made. The production of coins of inferior alloy, owing to the enormous appreciation in the value of silver, has also engaged the attention of the officials in Melbourne, as in other parts of the British Empire. It would appear that a depreciation in the fineness of the material employed in the production of any coins must eventually lead to a differentiation and possible loss in exchange, especially while the former issues of better alloy remain in circulation. However, it would seem that all civilised countries are experiencing the same difficulty, and we may surely hope that wise financiers will find some way of lessening the loss that now apparently looks inevitable.
881
Florin. 1910. (London Mint.) Pl. 58.
- Obverse. EDWARDUS VII D: G: BRITT: OMN: REXF: D: IND: IMP: Crowned and robed bust of King Edward to right.
- Reverse. The Ensigns Armorial of the Commonwealth of Australia, above ONE FLORIN, below the date, 1910.
882
Shilling. 1910. Pl. 58.
- Obverse. Similar to No. 881.
- Reverse. Similar to No. 881, but reading ONE SHILLING.
883
Sixpence. 1910. Pl. 58.
- Obverse. Similar to No. 881.
- Reverse. Similar to No. 881, but reading SIXPENCE.
884
Threepence. 1910. Pl. 58.
- Obverse. Similar to No. 881.
- Reverse. Similar to No. 881, but reading THREEPENCE.
885
Florin. 1911.
- Obverse. GEORGIUS V D. G. BRITT. OMN: REX F. D. IND: IMP: Crowned and robed bust of King George to left.
- Reverse. As No. 831, except date.
886
Shilling. 1911.
- Obverse. As No. 885.
- Reverse. Similar to No. 882, except date.
887
Sixpence. 1911.
- Obverse. As No. 885.
- Reverse. Similar to No. 883, except date.
888
Threepence. 1911.
- Obverse. As No. 885.
- Reverse. Similar to No. 884, except date.
889
Penny. 1912. Bronze. (Heaton & Sons fecit.)
- Obverse. Similar to the British penny of even date and design as the florin.
- Reverse. ONE / PENNY in two straight lines in centre with a scroll ornament above and below, enclosed in a double lincar circle with a circle of dots between the lines. Round the edge COMMONWEALTH OF AUSTRALIA. 1911.
890
Halfpenny. 1912. Bronze.
- Obverse. As No. 889.
- Reverse. As No. 889, but has ONE / HALF / PENNY in three lines and a short bar under in the inner circle.
In 1913, florins, shillings, pence, and halfpence were issued by the London Mint. No sixpences or threcpences were issued. In 1914, the London Mint supplied all six denominations and Heaton & Sons supplemented the florins and halfpence. In 1915, florins, shillings, threepences, and pence came from the London Mint, Heaton & Sons also supplying forins, shillings, pence, and all the halfpence of that year.
891
Florin. 1916. Pl. 58. (Melbourne Mint.)
- Obverse. As No. 885.
- Reverse. Similar to No. 885, with the Melbourne Mint mark M under the date, 1916.
892
Shilling. 1916. Pl. 58.
- Obverse. As No. 885.
- Reverse. As No. 886, with M under the date, 1916.
893
Sixpence. 1916. Pl. 58.
- Obverse. As No. 885.
- Reverse. As No. 887, with M under the date, 1916.
894
Threepence. 1916. Pl. 58.
- Obverse. As No. 885.
- Reverse. As No. 888, with M under the date, 1916.
895
Penny. 1916. (Calcutta Mint.)
- Obverse. As No. 889.
- Reverse. As No 889, with a minute I (Calcutta Mint mark) under the lower scroll and date 1916.
896
Halfpenny. 1916.
- Obverse. As No. 889.
- Reverse. As No. 890, with a minute I under the lower scroll and date 1916.
In 1917, and 1918, similar issues were made of both silver and bronze, the latter bearing the Calcutta Mint mark. In 1919, the Melbourne Mint issued florins, sixpences, threepences, pence, and halfpence. No shillings were struck. The silver pieces have the usual Mint mark, but there is none on the bronze. (See Pl. 58, Nos. 897 and 898.)
899
Penny. 1920.
- Obverse. As No. 889.
- Reverse. As No. 889 with a minute dot just below the centre of the lower scroll to indicate that it was struck in Melbourne from dies made locally.
900
Penny. 1920.
- Obverse. As No. 899, but with the dot above the centre of the scroll, indicating that it was struck at the Sydney Mint.
- Reverse. 1920, October. The Commonwealth issues bearing the date 1920, did not appear till after the end of the first half of the year. Sixpences, three- pences, and pence of the usual design were struck from dies of 1919, and it was not till September that halfpence bearing the date 1920, were issued from the Sydney Mint. About the same time pence with this date were ruck in Melbourne from dies prepared in that establishment. They are distinguished from the ordinary coins by having a minute, or bead placed just below the centre of the lower scroll on the reverse, but have no regular Mint mark. On October 6th a similar issue was commenced in Sydney, the first piece being struck by Dame Margaret Davidson, wife of the State Governor. These have the . or bead placed just above the centre of the lower scroll instead of below. In December a small coinage of shillings was made in the Melbourne Mint of the usual design.
