1931 Dropped 1 Penny with Indian obverse PCGS XF40

The 1931 Dropped 1 Indian obverse die is one for the true variety collector. Rarer than the 1930 penny, 1922/1 overdate threepence, and the Adelaide Pound, perhaps it should be one for the investor as well. What makes this coin rare is a slight variation in the number of rim denticles on the obverse. While the typical and more common 1931 Dropped 1 penny has 177 rim denticles (the obverse die being described as the “London die”), the coin photographed above has 178 rim denticles, as its obverse was struck from the so-called “Calcutta die” or “Indian die”. This is a well-known variety, one that has been sought by variety collectors for many years. Both London and Indian dies were used across the George V penny series from 1920 to 1931, and collectors often spend many years trying to find all die combinations. The 1931 Dropped 1 Indian die is often one of the last to be acquired, due to its rarity. And its value? That’s a difficult one to pin down. In May 2013, an example described as “aVF/VF”, and having “rim grazes” and “small marks in obverse field” sold for $2,097 in a Sydney auction, while a problem-free example graded as “Fine” sold for $3,612 the month before, also in a Sydney auction. In November 2012, again in Sydney, another specimen that had pitting evident in the obverse fields and described as “Very Fine” with a “slight bend” on the obverse sold for $2,330. Looking at these realisations, it is clear that impaired and low-grade examples are worth from $2,000 to around $3,500, so a superior example, such as the one above, with a near-full centre diamond on the band and no unnatural impairments to the rims, fields, or the design, should be worth more. Looking back into my own sales records, I note that I sold a superior example, graded Very Fine with full centre diamond for $5,750 in July 2008. Therefore, a price somewhere in between these two price points seems reasonable. Please call +61 421 229 821 or 1800 832 328 to discuss. 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). The 1931 Dropped 1 Indian obverse die is one for the true variety collector. Rarer than the 1930 penny, 1922/1 overdate threepence, and the Adelaide Pound, perhaps it should be one for the investor as well. What makes this coin rare is a slight variation in the number of rim denticles on the obverse. While the typical and more common 1931 Dropped 1 penny has 177 rim denticles (the obverse die being described as the “London die”), the coin photographed above has 178 rim denticles, as its obverse was struck from the so-called “Calcutta die” or “Indian die”. This is a well-known variety, one that has been sought by variety collectors for many years. Both London and Indian dies were used across the George V penny series from 1920 to 1931, and collectors often spend many years trying to find all die combinations. The 1931 Dropped 1 Indian die is often one of the last to be acquired, due to its rarity. And its value? That’s a difficult one to pin down. In May 2013, an example described as “aVF/VF”, and having “rim grazes” and “small marks in obverse field” sold for $2,097 in a Sydney auction, while a problem-free example graded as “Fine” sold for $3,612 the month before, also in a Sydney auction. In November 2012, again in Sydney, another specimen that had pitting evident in the obverse fields and described as “Very Fine” with a “slight bend” on the obverse sold for $2,330. Looking at these realisations, it is clear that impaired and low-grade examples are worth from $2,000 to around $3,500, so a superior example, such as the one above, with a near-full centre diamond on the band and no unnatural impairments to the rims, fields, or the design, should be worth more. Looking back into my own sales records, I note that I sold a superior example, graded Very Fine with full centre diamond for $5,750 in July 2008. Therefore, a price somewhere in between these two price points seems reasonable. Please call +61 421 229 821 or 1800 832 328 to discuss.