Cartwheel Penny Australia: The History, Design, and Value of Australia's Iconic 1938 Coin

Introduction

The Cartwheel Penny, a striking Australian coin, holds a special place in both the history of Australian currency and the hearts of numismatics collectors around the world. With its distinct design, significant historical context, and growing value in the collector's market, the Cartwheel Penny stands as a testament to Australia’s early coinage system. First minted in 1938, this coin's legacy has not only preserved a chapter of Australian history but also attracted passionate collectors and investors alike.

This article will delve into the origins, design features, historical context, and collecting aspects of the Cartwheel Penny. By the end, you will understand why this coin is such a treasured piece of Australia’s numismatic heritage.

1. History and Origin of the Cartwheel Penny

The Cartwheel Penny was introduced in 1938 by the Royal Australian Mint. The need for the coin arose from Australia’s economic situation at the time, especially during the Great Depression. Before the Cartwheel Penny was introduced, the country lacked a sufficiently large coin for everyday transactions, which led to the adoption of a coin much larger in size and weight than its predecessors.

In this section, we’ll look at the historical context that led to its minting:

Australia's economic needs and the Great Depression.
The minting process and the Royal Australian Mint's involvement.
The transition from previous smaller pennies to the large Cartwheel Penny.

2. Design of the Cartwheel Penny

One of the most recognizable features of the Cartwheel Penny is its size and weight. At 31.7 millimeters in diameter, it’s significantly larger than modern pennies, and this was done to ensure its durability and ease of handling in an era when coins were used for daily transactions.

The design itself is equally remarkable:

Obverse Side: Features the image of a kangaroo, one of Australia’s most iconic animals, symbolizing the country’s uniqueness and natural heritage.
Reverse Side: Displays the Latin phrase “ADVANCE AUSTRALIA” and an image of a wattle flower, which represents Australia’s national flora.
Edge Design: The coin’s edge is distinctively plain, which further contributes to its unique aesthetic.

In this section, we’ll explore the intricate details of the coin’s design, why certain images were chosen, and the significance behind the Latin inscription.

3. The Cartwheel Penny's Role in Australian Economy

The Cartwheel Penny was more than just a beautiful coin – it was essential to the Australian economy of the time. This section will explore how the Cartwheel Penny was used in daily transactions:

Replacing smaller denominations: The introduction of the Cartwheel Penny replaced other small denomination coins.
Economic stability: How the large penny contributed to stabilizing the economy and easing the burden on the currency system during the Great Depression.
Widespread use: How it became widely circulated and used in stores, markets, and daily life.

This segment will showcase the penny’s influence on the Australian economy, its cultural symbolism, and its role in facilitating easier monetary exchanges.

4. The Cartwheel Penny in the World of Numismatics

The Cartwheel Penny holds significant value among collectors due to its historical importance, rarity, and unique characteristics. In this section, we will dive deep into the world of numismatics and the various factors that make the Cartwheel Penny so appealing:

Collector demand: How the coin's rarity has driven demand and what factors influence its value.
Condition and preservation: Why condition matters in numismatics and how to determine the authenticity of a Cartwheel Penny.
Pricing trends: How the value of the coin has evolved over time and what influences its market price.

This part will appeal to seasoned collectors as well as newcomers looking to understand the potential investment value of the Cartwheel Penny.

5. The Cartwheel Penny's Cultural and Historical Significance

The Cartwheel Penny is not only significant for collectors but also for history enthusiasts. Its creation marked a pivotal moment in Australian currency and represents an era of growth, national pride, and economic adaptation. In this section, we’ll discuss:

Symbol of Australian pride: How the coin reflects Australia’s national identity and spirit.
Legacy: The lasting influence of the Cartwheel Penny in Australian culture.
Commemorative coins: How the Cartwheel Penny is still celebrated today through commemorative coins and exhibitions.

We’ll also touch upon the Cartwheel Penny's presence in museums and exhibitions, which continues to remind Australians of their colonial and economic past.

6. Rare Variants and Mint Errors in Cartwheel Pennies

Although the Cartwheel Penny was relatively straightforward in its production, several rare variants and minting errors have been discovered over the years. In this section, we’ll examine:

Minting variations: Differences between the standard and rare variations.
Errors in design: Common and rare minting errors such as double strikes, off-center printing, and incomplete designs.
Rarity and value: How these errors affect the value of the coin and what collectors should look for when seeking rare variants.

7. The Cartwheel Penny in Modern-Day Collecting

While the Cartwheel Penny was discontinued long ago, it continues to captivate collectors around the world. This section will explore the following:

Modern-day relevance: Why the coin remains a hot commodity in auctions and among collectors.
How to buy and sell Cartwheel Pennies: Resources, auction sites, and tips for buying and selling.
The role of online platforms: The growth of digital marketplaces for coin collectors and how they have changed the way people acquire rare items like the Cartwheel Penny.

8. The Cartwheel Penny’s Place in Australian Popular Culture

The Cartwheel Penny has made its way into Australian culture through books, television, and films. In this section, we’ll explore:

References in literature and media: How the coin has appeared in popular media and literature, representing Australia’s cultural history.
Artistic depictions: The coin’s impact on Australian art and design.
Symbolic use in modern times: The continued symbolic value of the coin in contemporary Australian life.

9. Comparing the Cartwheel Penny to Other Large Pennies Globally

The Cartwheel Penny is unique not only in Australia but in the wider context of large pennies from around the world. In this section, we will compare the Cartwheel Penny to other similar coins:

British large pennies: How the Cartwheel Penny compares to British pennies of the same era.
Canadian pennies: A comparison with Canadian large pennies, exploring similarities and differences.
Other notable large pennies: A look at large pennies from countries like the United States and South Africa.

This comparison will give readers a global context for understanding the Cartwheel Penny's place in coinage history.

10. How to Identify and Evaluate a Cartwheel Penny

This section will provide a detailed guide to help collectors identify genuine Cartwheel Pennies, evaluate their condition, and understand their value:

Authenticity: How to tell if your Cartwheel Penny is genuine.
Condition grades: Understanding the different grades of a coin and how they affect its value.
Market trends: How to track the price of Cartwheel Pennies in today’s market.

List of FAQs About Cartwheel Penny Australia: The History, Design, and Value of Australia’s Iconic 1938 Coin

The 1938 Australian Cartwheel Penny holds a special place in the hearts of collectors, historians, and numismatists. Often described as one of the most iconic pre-decimal coins in Australian history, the Cartwheel Penny marked a major turning point in coin design, minting standards, and national identity. With its distinctive large diameter, bold kangaroo reverse, and historical significance, this penny has become a prized collectible across Australia and internationally.

This comprehensive FAQ guide explores everything you need to know about the Cartwheel Penny Australia—from its origins and design inspiration to rarity, grading, value, and collecting tips. Whether you’re a beginner coin collector, an experienced numismatist, or an investor researching historic Australian coins, this guide will provide reliable, SEO-optimized insights into one of Australia’s most celebrated coins.

1. What is the Australian Cartwheel Penny?

The Australian Cartwheel Penny refers to the 1938 One Penny coin, named for its unusually large size, which resembles the famous British cartwheel pennies of the late 18th century. It was introduced as part of a redesign of Australia’s bronze coinage during the reign of King George VI.

2. Why is the 1938 Penny called the “Cartwheel Penny”?

The nickname “Cartwheel Penny” comes from the coin’s large diameter (31 mm) and heavy bronze construction. Its size made it noticeably larger than earlier Australian pennies, giving it a wheel-like appearance similar to British cartwheel coins minted in 1797.

3. When was the Australian Cartwheel Penny minted?

The Cartwheel Penny was minted in 1938 only, making it a single-year issue, which significantly adds to its desirability and collectible value.

4. Who designed the 1938 Australian Cartwheel Penny?

Obverse (King’s portrait): Designed by Thomas Humphrey Paget
Reverse (kangaroo): Designed by George Kruger Gray

Both designers were renowned British artists whose work defined Commonwealth coinage in the 20th century.

5. What is depicted on the obverse of the Cartwheel Penny?

The obverse features a left-facing portrait of King George VI, with the inscription:

GEORGIVS VI D:G:BR:OMN:REX

This translates to “George VI, by the Grace of God, King of all Britain.”

6. What is shown on the reverse of the Cartwheel Penny?

The reverse displays a kangaroo standing on a grassy mound, with:

“AUSTRALIA” at the top
“ONE PENNY” below
The year 1938

This design replaced earlier Commonwealth motifs and emphasized Australia’s national identity.

7. What metal is the Cartwheel Penny made of?

The 1938 Cartwheel Penny is composed of:

97% copper
2.5% zinc
0.5% tin

This bronze alloy gives the coin its rich reddish-brown tone.

8. How much does a Cartwheel Penny weigh?

The coin weighs approximately 9.45 grams, making it heavier than earlier Australian pennies.

9. What is the diameter of the Cartwheel Penny?

The diameter is 31 mm, significantly larger than most other Australian pre-decimal bronze coins.

10. Where was the 1938 Cartwheel Penny minted?

The Cartwheel Penny was minted at the Royal Mint, London, not in Australia.

11. How many 1938 Cartwheel Pennies were minted?

Approximately 2.645 million coins were produced. While not extremely rare in circulated condition, high-grade examples are scarce.

12. Is the Australian Cartwheel Penny rare?

The coin is considered:

Common in circulated grades
Scarce to rare in Uncirculated and Proof-like conditions

Its rarity increases significantly with condition quality.

13. What makes the Cartwheel Penny valuable?

Several factors contribute to its value:

Single-year issue
Large iconic design
Historical importance
Condition and grade
Collector demand

14. What is the value of a Cartwheel Penny in circulated condition?

Approximate values (subject to market fluctuations):

Good (G–VG): AUD $20–$40
Fine (F): AUD $50–$80
Very Fine (VF): AUD $100–$180

15. How much is an Uncirculated Cartwheel Penny worth?

Extremely Fine (EF): AUD $250–$400
Uncirculated (UNC): AUD $600–$1,200+
Exceptional examples can command even higher prices at auction.

16. Are proof versions of the Cartwheel Penny available?

No official proof versions were released for circulation. However, proof-like strikes exist and are extremely rare and valuable.

17. How can you identify a genuine Cartwheel Penny?

Key identification points include:

Correct weight and diameter
Sharp kangaroo details
Consistent bronze tone
Authentic edge thickness
Matching known die characteristics

Professional authentication is recommended for high-value pieces.

18. Are there known errors or varieties?

Yes, collectors look for:

Die cracks
Weak strikes
Planchet flaws
Off-center strikes

Error coins often sell at a premium.

19. How should Cartwheel Pennies be graded?

Grading focuses on:

Kangaroo fur detail
King’s hair and facial features
Rim condition
Surface marks and corrosion

Third-party grading services can add credibility and value.

20. Should Cartwheel Pennies be cleaned?

Never clean a Cartwheel Penny. Cleaning reduces value dramatically and may permanently damage the coin’s surface.

21. How should you store a Cartwheel Penny?

Best storage practices:

Acid-free coin holders
Mylar flips
Climate-controlled environment
Avoid PVC plastics

22. Is the Cartwheel Penny a good investment?

Yes, for long-term collectors. Its historical importance, single-year mintage, and strong demand make it a stable numismatic investment.

23. How does the Cartwheel Penny compare to earlier Australian pennies?

Compared to earlier pennies, it features:

Larger size
More detailed artwork
Improved striking quality
Stronger national symbolism

24. Why was the Cartwheel Penny design discontinued?

The large size proved impractical for everyday use. Australia reverted to smaller penny designs in subsequent years.

25. Who collects Australian Cartwheel Pennies?

Collectors include:

Pre-decimal specialists
George VI coin collectors
Australian heritage investors
Museum and institutional collectors

26. Can beginners collect Cartwheel Pennies?

Absolutely. Circulated examples are affordable and provide an excellent entry point into Australian pre-decimal coin collecting.

27. Where can you buy an Australian Cartwheel Penny?

Common sources include:

Reputable coin dealers
Numismatic auctions
Coin shows
Certified online marketplaces

Always verify authenticity and condition.

28. How does the Cartwheel Penny perform at auctions?

High-grade examples consistently achieve strong auction results, especially those with professional certification.

29. What role does the Cartwheel Penny play in Australian coin history?

It represents a transition period in Australian coinage—combining British minting traditions with emerging national symbolism.

30. Is the 1938 Cartwheel Penny considered iconic?

Yes. It is widely regarded as one of the most iconic Australian pre-decimal coins, celebrated for its design, size, and historical legacy.

Conclusion

The 1938 Australian Cartwheel Penny is far more than just an old coin—it is a powerful symbol of Australia’s numismatic evolution. With its bold kangaroo design, impressive size, and single-year mintage, it remains one of the most sought-after coins in Australian collecting circles. Whether you are collecting for passion, history, or investment, the Cartwheel Penny stands as a timeless and valuable piece of Australia’s heritage.

The Cartwheel Penny remains one of the most iconic and sought-after coins in Australian history. Whether you're a collector, a historian, or someone with an interest in Australian culture, the Cartwheel Penny offers a glimpse into the past and a tangible piece of Australia’s economic and numismatic history. With its stunning design, historical significance, and ongoing role in the world of coin collecting, the Cartwheel Penny continues to captivate the hearts and minds of Australians and collectors around the globe.

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