1931 Dropped 1 Penny with Indian obverse

Unlike the legendary 1930 penny, the 1931 dropped 1 Indian die penny doesn’t have the same claim to fame or “brand recognition” as its famous predecessor. This is a pity, as the 1931 dropped 1 Indian die penny is one of the rarest circulation pennies available to collectors. While the 1930 penny appears on the market for sale dozens of times a year, sometimes multiple times in a single auction, the 1931 variety (known as the “dropped 1 Indian” in numismatic shorthand) turns up for sale perhaps once or twice a year, always in circulated grade. Along with the 1922/1 overdate threepence, it’s one of my favourite Commonwealth coin rarities. The example on offer here is better-than-average, with three-quarters of the centre diamond and six clear pearls visible. It is the equal-finest example I’ve handled since 2007 and the equal-third finest example certified by PCGS. If you’re looking for a coin that is rarer than the 1930 penny, but one-third of the price, this is your coin.