The florin could be described as the king of coins for collectors of Australian Coinage. It is probably the most popular series for collectors and therefore commands some hefty prices. The coin does however have some history in its making.

The florin originated from Florence in Italy and quickly spread throughout Europe as a standard. The first attempt of Britain to produce a florin was done by King Edward III in 1344. This florin, also known as the Double Leopard, was produced in the attempt to produce gold coins suitable for use throughout all of Europe. At the same time a half florin (leopard) and quarter florin (helm) were also produced. The original florin had a value of 6 shillings. The gold used to mint these coins was overvalued. This meant merchants would not accept the coins so they were withdrawn from circulation and melted down.

The next time the florin appeared in British coinage was 1849. It was introduced at a value of 2 shillings or one tenth of a pound. The value of this coin was the first step in a plan to introduce decimalisation, which did not occur until 120 years later. It was surrounded by controversy. The coin omitted the inscription “by the grace of God.” The coin was subsequently referred to as the “Godless Florin.”

The florin continued to be produced in Britain until decimalisation occurred in 1968. It was replaced by a 10 pence coin. The florin continued to be legal tender in Britain until 1993.

The Australian florin was introduced in 1910, at the same time as other Australian silver coins. The coin created some confusion when introduced due to the words “Florin – Two Shillings” although both descriptions on the coin meant the same thing. The florin was introduced with a mass the same as the current 20c piece and was colloquially termed the “two bob.” The coin was introduced with Australian icons – the Kangaroo and Emu holding the Coat of Arms, topped with a 7 pointed star. Besides the monarch changes, the coins only significant change was in 1938 when a new Coat of Arms appeared,  the star was replaced with a crown and the words “two shillings” was removed.

Australia’s first commemorative coin was the 1927 “Canberra” florin. This coin was made to celebrate the opening of Parliament House by the Duke and Duchess of York.

The second of Australia’s commemorative coins was the 1934-35 Melbourne Centenary Florin. The coin was the first Australian coin to be issued with two dates, that being the founding of the settlements of Port Phillip Bay (1934) and Melbourne (1935). The coin was the first Australian coin to be issued at a premium. It issued at 3 shillings with the extra shilling going towards the centenary celebrations. Of the 75,000 coins minted 24,000 were melted down as they were unsold.

The 1951 Federation florin was the next commemorative florin in the series. It was minted to celebrate 50 year of Federation.

The 1954 Royal Visit Florin was the last commemorative florin issued and proved to be an unpopular release. It depicted the lion and kangaroo standing side by side to symbolise the unity between Australia and Great Britain. The public saw it more like a “zoo token” as there were no words on the coin to say it was for the royal visit.

As mentioned earlier, the florin series is probably the most collected pre-decimal series. As such, some hefty price tags have resulted, particularly in high grade early issues. The issues from 1911 to 1915 are very pricey in high grades with some coins pushing the $10,000 mark in uncirculated grade. Most coins minted prior to 1926 command one or two thousand in uncirculated grade. Coins minted in 1932 and 1933 also push the $10,000 mark in high grade. Except for 1939 release, the rest of the series, although expensive, is affordable in nice grades. Of the commemorative florin series the Melbourne Centenary Florin is undoubtedly the king. Uncirculated coins reach the $500 mark even though they are probably more common in this grade than lower grade coins. This is because as most were horded as they were sold at a premium.

Overall the florin series is probably the nicest series in high grades of all Australian pre-decimals. For the investor, it is the series that will maintain and grow in value over the next couple of years. For the hobbyist, it is a series to be proud of.

References

McDonald G, Collecting and Investing in Australian Coins and Banknotes, 2nd Ed. (Sydney: 1991).

Myatt B & Hanley T, Australian Coins, Notes and Medals, Castle Books (Melbourne: 1982).

Wikipedia http://www.wikipedia.org

This month of January saw the release of the Eureka Stockade dollar coin at the mints “Mint your own“ press. The official release by the mint of this coin occurs this month. The coin celebrates the 150^th anniversary of the Eureka Stockade uprising of gold miners at Ballarat over high taxes and heavy handed tactics of local authorities. In my opinion this coins is one of the nicer looking dollar coins released in recent years. Given the good investment potential in dollar coins over a number of years this one is without a doubt worth getting.

The coins from the mint your own press have already produced an error coin. There appears to be a consistent number of coins produced with an approximate 10 degree offset between the obverse and the reverse. It has been known that for a number of years a fair percentage of dollar coins produced are less than perfect, including coins punched slightly off centre and coins that are far from round. This coin however could be another imperfection to add to the list or a genuine contender for the status of a reasonably rare error coin.