1931 Dropped "1" Penny with Indian obverse PCGS XF40
The 1931 low “1” penny struck from the Indian obverse die is a classic Australian rarity. The coin is widely known amongst experienced collectors, and a key target for anyone building a penny or Commonwealth coin set. It’s rarer than the legendary 1930 penny (which brings more than $20,000), yet examples in lower grades can still be found under $5,000. The coin shown here is a fresh piece and sits equal-fourth finest graded by PCGS (3/26); of those we’ve handled, it’s the second finest. The rims are full, the fields are clean, and there are no marks or deformities to distract from its original eye appeal. A desirable example at this level, and absolutely one to tuck away. 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).