There are no known Australian 1-cent coins currently valued at millions of dollars. The sensational headline you are referencing likely confuses the 1-cent coin with other, more valuable Australian rarities, such as the famous pre-decimal 1930 Proof Penny (which has sold for over AU$1 million).
However, some Australian 1-cent coins are highly sought after by collectors and can be worth a significant amount of money (hundreds to thousands of dollars), especially in uncirculated or proof condition. Rarity is usually determined by low mintage figures or minting errors.
Here are the most notable Australian 1-Cent coins to look for:
Top 1-Cent Coins for Collectors
- 1968 1-Cent Coin
- Rarity: This coin has the lowest mintage of all circulating 1-cent pieces.
- Reason for Value: The Royal Australian Mint did not issue a mint set in 1968, making it extremely difficult to find high-grade, uncirculated examples today.
- 1966 Proof 1-Cent Coin
- Rarity: Proof coins were struck for collectors and not intended for circulation, and were produced in highly controlled, limited numbers.
- Reason for Value: Proof coins from the first year of decimal currency are always desirable, and examples that are Deep Cameo (DCAM) with a high professional grade (like PCGS PR66RD DCAM) can be very valuable.
- 1966 Perth Mint (Dot Below)
- Rarity: Some coins minted at the Perth Mint have a small ‘dot’ below the ‘Y’ of ‘PENNY’ or the ‘A’ of ‘AUSTRALIA’ (a common mint mark for pre-decimal coins, though variations can exist on the first decimal issues) to denote their origin. In high grades, these can be of value.
- Error Coins
- Any 1-cent coin with a clear and dramatic minting error is highly collectible. Examples of errors to look for include:
- Off-Centre Strikes: Where the coin design is clearly struck off the center of the blank planchet.
- Double Strikes: Where the coin has been struck twice, creating a double image.
- Die Cracks/Fills: Significant anomalies caused by a damaged die.
- Any 1-cent coin with a clear and dramatic minting error is highly collectible. Examples of errors to look for include:
The Coin Worth “Millions”
The Australian coin with a million-dollar value is the 1930 Proof Penny (a pre-decimal coin worth two cents in today’s money). A proof example sold for $1.15 million AUD in a private transaction. It is highly rare, with only six examples believed to have been struck.
