I found this today and looked it up in Krause (KM-15)while I was in the store.The latest edition has it valued at $40 in Fine but after returning home,I checked my 3rd edition and it was listed at $22. Is it possible that this coin could have almost doubled in value in just a few years? Is there some sort of resurgence in the British Colonial coin market or what? Just Curious.
This is actually a Penang 1c. coin.Penang was,with Malacca & Singapore,part of the Straits Settlements. Aidan.
Aidan, It is indeed a Penang,Malaysian cent.If it had been minted a year later,it would have technically been a Straits settlement issue since they were formed in 1826.This same coin was minted again in 1828 but Krause still lists it as Penang only.Hmmm.... Funny,but I didn't even notice the "Penang" when I originally looked it up even though it's quite obvious.My thanks for pointing it out.
Just like in most, if not all cases, values are dictated by the supply-demand for the coin. The Penang coins, like this 1 cent/pice here have seen a big jump in value and price in recent years especially the higher grades... A Malaysian specialised catalog quoted this coin over $100 for VF in its latest edition, and that was a surge of nearly $40 from its previous edition a year ago. There're just not many of them around, and the ones you can find are usually in conditions no better than F. The better grades, I'm afraid, have to be acquired from other places like UK. $40 for F does reflect the actual market scenario. Oh, btw, nice coin Mikjo0.
Mikjo0,Penang,like Malacca & Singapore was under the East India Company's administration until 1858,which is why the E.I.C.'s Coat-of-Arms is on the obverse of the coin.The same applies to the 1821 St. Helena 1/2d. Aidan.
INSCRIPTION : "PULAU PINANG" in Malay Meaning "Island of Pinang" . It is an official coin issued by the Bitish rulers. The Bitish East India Company bought the island in 1791.
I still think most old 1800s Asian coins are undervalued, as well as the interest of such coins are spiking hard these days, particularly from the Indians as they are searching for the past East-Indian company coinages.
Even though it was issued under the East India Company,it is still interesting to me.The King at this time was King George IV (reigned 1820-30). Aidan.
