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Australia George V

1916-I  Penny reverse 1916-I  Penny obverse

1916-I Penny

Mintage:3,324,000
Reverse Designer:W. H. J. Blakemore Obverse Designer:Sir E. B. MacKennel Size:31mm Weight:9.45g Edge:Plain Composition:97% Copper
2.5% Zinc
0.5% Tin

Values

Sales History

The 1916-I Penny was struck at the Calcutta Mint in India with a total mintage of 3,324,000. The variety features a small 'I' mint-mark located beneath the lower scroll on the reverse (see image below). Collectors seeking an example of this year will find it is far more affordable than comparable earlier grades, with lower mint-state prices (~MS62) remaining reasonably affordable.

India 'I' mint-mark on the reverse of a 1916-I Penny. India 'I' mint-mark on the reverse of a 1916-I Penny.

Following the introduction of Australia's first coinage in 1911 a shortage emerged. This shortage was further aggravated in 1914 when the Royal Mint in London was tasked with manufacturing military materials to assist the war effort. With a reduced ability to supply coins from London, the private mints of Heaton and Sons in Birmingham and the Calcutta branch of the Royal Mint were tasked with producing additional coins for Australia. From 1916 the production of silver coins was shifted to Melbourne and it was organised for copper pieces to be struck at the Indian branch of the Royal Mint in Calcutta. Calcutta continued to produce Australia's pennies until 1918. From 1919 production of copper pieces was also shifted to Australia. (John Sharples, 1985)

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