While Australia's pre-1955
proof
coin series has one of the highest value:rarity ratios in the world, the 1938 proof threepence is one of the few years
to have avoided this retaining its low price relative to other coins in the series. This is in part due to having the third
highest
mintage
of any pre-55 proof, after the 1935 proof penny and half penny which in practice appear to be much scarcer than the
mintage
indicates. The other reason being this coin was sold to the general public and as such most pieces were impaired from
light wipes over the years resulting in most grading quite low. The other product of this however is that higher grade pieces,
particularly those above PR64 are extremely scarce and may indeed by undervalued though rarely appear on the market.
The 1938
proof
threepence can easily be differentiated from business strikes
by the presence of two die polishing striations int he shape of an X or cross between the 1st and 2nd wheat stalks. These
are very faint and will likely require magnification and multiple lighting angles to see but they do not occur on business strikes and thus make an effective diagnostic criterion.
X between the 1st and 2nd wheat stalks
Find out what dealers are paying with a subscription.
