Australian Coins, What has survived

Overview of depletion of Australian coins by melts and improper storage.

Australian Coins, What has survived

There have been several major melts of Australian coins vastly reducing the numbers of coins available to collectors. Firstly at change over to decimal currency in 1966. Secondly the melt of 1980 when Bunker Hunt tried to corner the silver market and thirdly right now with price at around $15 per ounce.

In addition to the melts of coins cleaning or dipping has destroyed a sizable number of surviving specimens. Certain dealers over the years have "dipped" (cleaned coins with a liquid usually Goddards silver dip or Jewel Lustre Coin cleaner).Collectors as well, not used to the natural patina acquired by silver & gold have cleaned & destroyed large numbers. Some states seem to be worse. Coins from WA & QLD all seem to be dipped in Melbourne & Sydney maybe 50% with Adelaide probably the least affected. What numbers it’s hard to guess but maybe half gone or severely reduced in value. A few coins mainly gold have been whizzed (buffed by a jewellers or dentist brush to remove scratches) but numbers done are relatively small due to costs involved.

Finally incorrect storage has destroyed another substantial portion of Australia’s coins. Holders and albums here contain PVC (Poly Vinyl Chloride) which react with the surface of the coin ultimately destroying it. The self-adhesive holders contrary to popular belief do contain PVC and should only be used short term. Safest to use are safe flips or Eagle Mounts which are PVC free. The staple type holder is also inert and can be used safley.

Does this matter?

Yes it does and this is why. If you buy a cleaned coin and you can’t tell (most people can’t including many dealers) when you come to sell the cleaning is used to lower the purchase price. Many people won’t buy a cleaned coin at any price some at very reduced prices. Cleaned or problem coins cannot be graded into PCGS holders!

The cleaning affects the surface of the coin and it can NEVER be fixed. It may tone back but the surface it affected forever. And remember the cleaning may only be dipping which many dealers do as a matter of course.

What has survived?

Well some good news. Most 1955 and later proofs have survived. Much QE11 material as well as George V1. Some George V although most circulated coins (AU 58 and below) are cleaned. Quite a lot of copper is OK although a lot of material is affected by PVC and still badly stored. A lot of gold is OK

though much has been dipped as well. It used to be standard practice to put 100’s of sovereigns through the dish washer. Hard to believe but true.

What can you do?

Ascertain if you own cleaned coins. Investigate proper storage especially on valuable coins in your collection. This is most important. Dansco supreme albums are OK but be very careful with the sliding sheets. In future consider the purchase of coins in PCGS holders and if coins are not in holders you can have them graded.

More Information

PCGS.Com

Date Added: 26/01/2007

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