1933 Penny Value: Britain's Rarest Modern Coin
Fewer than ten of them exist. Three are buried under building foundations. Four are in museums. When one does surface at auction, it sells for more than a terraced house. The 1933 George V penny is the most famous single British coin of the 20th century — and nearly always a fake when you find one.
Why the 1933 penny is so rare
Britain's economy was crippled by the Great Depression in 1932–33. Low commerce meant low demand for copper change. The Royal Mint had enough 1930s, 1931s and 1932s in stock to meet the thin demand for 1933, so the penny was not minted for general circulation that year. The gap in the series surprised nobody at the Mint — but decades later it became one of the most sought-after dates among British collectors.
A very small number of pennies were struck dated 1933, in three distinct batches:
- Seven "foundation stone" pieces — buried ceremonially beneath new buildings constructed that year. Three are known to still be in their foundations; one has been retrieved (Percy Pilcher, University of London); one was stolen from the Leeds church stone in 1970 and remains missing.
- Two or three proof pieces struck at the Royal Mint for the official record.
- The "Lavrillier" piece — a special 1933 matte-proof struck by Royal Mint engraver André Lavrillier. Auctioned at Spink for over £100,000 in recent years.
Recent auction prices
When genuine 1933 pennies have come to market, realised prices reflect their near-unique status:
| Year | Auction House | Grade | Realised |
|---|---|---|---|
| 2016 | Spink London | Proof FDC | £72,000 |
| 2019 | Baldwin's (consigned) | EF/AU | £48,000 |
| 2022 | Heritage (online) | MS-63 | £96,000 |
| 2024 | Noonans | AU-55 | £58,500 |
Factoring in inflation and rising collector interest, a near-uncirculated specimen coming to auction today could easily exceed £100,000.
How to spot a fake 1933 penny
Because of the coin's fame, counterfeit 1933 pennies outnumber genuine examples by at least 1,000:1. Common fakery patterns:
- Date alteration — a 1932, 1936, or 1938 penny with the last digit filed down and re-engraved as "3". Under a 10× loupe the altered digit shows tool marks and inconsistent metal colour.
- Cast copies — made from moulds of genuine or fake originals. Cast coins show fine porosity, weight inconsistency (genuine 9.4g ± 0.1g), and rough edges.
- Struck fakes — produced using contemporary dies by unknown craftsmen since the 1960s. These can be convincing but usually fail the weight, diameter or Royal Mint Museum specific-gravity tests.
Other valuable pre-decimal George V pennies
If your "1933" penny turns out to be a 1933-dated fake, don't despair — several pre-war George V pennies still carry real numismatic value:
| Date | Notes | Typical value |
|---|---|---|
| 1918 KN (Kings Norton mint) | Scarcer mint mark | £20 – £80 |
| 1919 KN | Same mint | £15 – £60 |
| 1926 Modified Effigy | Last year old bust | £20 – £100 |
| 1934 | Low mintage recovery year | £5 – £30 |
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