1918-I One Penny

The 1918-I Penny was the final year in the Penny series struck at the Calcutta Mint in India. The variety was struck to a total mintage of 1,200,000 and features a small 'I' mint-mark located beneath the lower scroll on the reverse (see image below). The relatively low mintage has made this year quite scarce compared to many of its immediate counterparts. In mint-state the type is very scarce with high prices in all designations. Population reports by PCGS only exhibit a single red example of this type. Collectors seeking a more affordable example from this era may find the two previous years (1916-I or 1917-I) a better choice.

India 'I' mint-mark on the reverse of a 1918-I Penny.

Following the introduction of Australia's first coinage in 1911 a shortage emerged. This shortage was further aggravated in 1914 when the Royal Mint in London was tasked with manufacturing military materials to assist the war effort. With a reduced ability to supply coin from London, the private mints of Heaton and Sons in Birmingham and the Calcutta branch of the Royal Mint were tasked with producing additional coins fro Australia. From 1916 the production of silver coins was shifted to Melbourne and it was organised for cooper pieces to be struck at the Indian branch of the Royal Mint in Calcutta. Calcutta continued to produce Australia's pennies until 1918. From 1919 the production of cooper pieces would also be shifted to Australia.