Australia 1946 (M) 'K.G' Penny

Mint:	Melbourne	Mintage:	Part 363,600 Estimate 10,000	Milling:	Plain
Weight:	9.45 grams	Diameter:	30.8 mm	Composition:	97% Copper, 2.5% Zinc, 0.5% Tin

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Obverse 3 - English

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Reverse D - London

Designer:	Thomas Hugh Paget (Initials 'HP' raised below truncation)
Design:	Left facing profile of George VI
Legend:	GEORGIVS VI D : G : BR : OMN : REX F : D : IND : IMP .
Denticle Count:	156 teeth
Mint mark:	None
Characteristics:	Upstroke on 'N' of 'OMN' aligns with denticle

Designer:	George Edward Kruger-Gray (Initials 'K.G' raised above tail)
Design:	* Kangaroo facing left
Legend:	AUSTRALIA PENNY
Denticle Count:	81 thick & 81 thin teeth
Mint mark:	'K.G' (Dot between Designer's Initials)
Characteristics:	Downstroke on 'P' of 'PENNY' aligns with thick denticle Downstroke on first 'N' of 'PENNY' aligns with thin denticle Downstroke on 'Y' of 'PENNY' aligns with thin denticle Upstrokes on 'U' of 'AUSTRALIA' align with thick denticles K.G

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Value

BM Ad NP	8 Good VG10	10 VG F12	12 about F F15	15 Fine VF20	20 good F VF25	25 about VF VF30	30 Very Fine VF35	35 good VF EF40	40 about EF EF45	45 Ext Fine AU50	50 good EF AU53	53 about Unc AU55	58+ virt Unc AU58	58-60 Uncirc MS60	58-61 Uncirc MS61	58-62 Uncirc MS62	63-64 Choice Unc MS63	64-65 near Gem MS64	65-66 Gem MS65	66-67 Gem MS66	67-68 Gem MS67	68 near Flaw MS68	69 virt Flaw MS69	70 Flawless MS70	Proof
B	$20 + NGC PCGS	$40 + NGC PCGS	$60 + NGC PCGS	$75 + NGC PCGS	$100 + NGC PCGS	$125 + NGC PCGS	$150 + NGC PCGS	$225 + NGC PCGS	$300 + NGC PCGS	$400 + NGC PCGS	$500 + NGC PCGS	$600 + NGC PCGS	$750 + NGC 1 PCGS	$1000 + NGC PCGS	$1250 + NGC PCGS	$1500 + NGC PCGS	$3000 + NGC PCGS	$5000 + NGC PCGS	$8000 + NGC PCGS	$13500 + NGC PCGS	$25000 + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	N
RB	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	$600 + NGC PCGS	$750 + NGC PCGS	$900 + NGC PCGS	$1250 + NGC PCGS	$1500 + NGC PCGS	$1750 + NGC PCGS	$4000 + NGC PCGS	$6000 + NGC PCGS	$9000 + NGC 1 PCGS	$15000 + NGC PCGS	$30000 + NGC PCGS	$50000 + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	N
R	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	" + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	- + NGC PCGS	N

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Benchmark

Adjectival

NGC/PCGS

Collectable grades

Does not exist by definition

Investment grades

Unlikely to exist

Aspirational grades

Bullion or metal value

Not known in these grades

Value as above

Proof

Y (Yes)
N (Not known)

Last updated September 2023

Notes:

The 1946 Penny, with a mintage of just 363,600, has always been considered a key coin in the Australian penny series, but within this small number there appears to be an extremely rare variety with a 'K.G' mint mark. A possible explanation for its existence is that the 1946 'K.G' penny was the result of experimental dies tested by Melbourne in anticipation that the Perth Mint might be called upon to produce coins for that year. Perth Mint had already been asked to strike its first and only silver coin, the 1946 shilling which was marked with a new '•S' mint mark. The 'K.G' mint mark had been used in 1940 and 1941 to surreptitiously distinguish pennies struck at the Perth Mint on dies supplied by the Melbourne Mint but that mark had been replaced at some point in 1941 by a more visible 'Y.' mark. However the interchanging of mint marks is not uncommon in the Australian series. For example, the 'Y.' Perth mint mark was replaced by an 'A•' mint mark in 1952 and 1953 before the 'Y.' mark was re-adopted again on the 1955 Perth Penny. Some sceptics have claimed that the 'K.G' is just a coincidental die chip but, as the coins have been observed in fully struck-up Uncirculated condition i.e. the product of a new die this seems a lazy and illogical conclusion. The 1946 'K.G' pennies certainly look to be Melbourne-struck and on available evidence should be considered a rare sub-set in the scarce 1946 Penny issue.