1931 Dropped "1" Penny with Indian obverse PCGS VF0 Details
If the 1930 penny is the king of Australian pennies, the 1931 Indian obverse die penny with the low “1” is its illegitimate older brother. Rare, infrequently seen, and painfully underappreciated as a numismatic coin, this 1931 penny variety (the “dropped 1 Indian” as it is known) has existed in the shadow of the 1930 penny since it was minted, even though it is harder to find and was minted in smaller numbers. Despite its rarity, it is available at a fifth of the price of a 1930 penny, even though it appears on the market just once or twice a year. (Compare that to the 1930 penny’s multiple appearances at almost every major auction.) It is esoteric, yes, and a bit more of a specialist’s coin, but that doesn’t diminish its exceptional uncommonness. The coin photographed above has suffered verdigris damage, although the verdigris is no longer active. PCGS has put the coin into a VF Details – Environmental Damage holder. With its partial centre diamond and clear lower band, the coin, in undamaged state, would be worth north of $4,000, so if you’ve been after an example of this major Australian rarity but prefer not to pay halfway to five figures, this is your coin. Professional Coin Grading Service is the global leader in coin authentication and grading. With over 60 million coins graded and counting, PCGS is trusted by collectors, dealers, and investors to certify authenticity, protect value, and elevate market confidence. This is a direct conversion of the 70-point PCGS grade to a 10-point scale, intended to present the grade in a more intuitive format for newer collectors. It is not our personal opinion or an attempt at regrading the coin to a different standard. To understand how the 70-point scale converts to a 10-point scale, [click here](https://drakesterling.com/en/page/the-ten-point-coin-grading-scale).