ARTICLE PROFILES COIN DEALER BELINDA DOWNIE

The managing director of Coinworks in Melbourne, Belinda Downie, has been involved in the rare-coin industry for 38 years. Among her career highlights have been placing the top three examples of Australia's first gold coin, the 1852 Adelaide Pound, and the sale of a Proof 1930 Penny for a record $620,000 in 2005.

This was claimed as the world's most expensive copper coin but may not be for much longer. She has another Proof 1930 Penny for sale (currently under negotiation), this one from the celebrated collection of A.M. Le Souef, former deputy master of the Melbourne Mint. With an estimated value of $2 million, it is expected to set another record in due course.

Now she is announcing the sale of the Madrid Collection, arguably the foremost collection of Australian Proof and Pattern coinage in the world. The 50 items are valued in excess of $12 million. These will be sold privately, not by auction, in stages over the next few years. The first series of coins is available (see www.madridcollection .com.au) and a few of them have already been claimed.

The poster coin is the 1802 Madrid Holey Dollar, which gives the collection its name. This is the only example in private hands of a Holey Dollar converted from an eight reales coin struck at a Spanish continental mint (Seville or, in this case, Madrid).

The other five known are held by institutions. This one last appeared at the Spink Bicentennial Auction in March 1988.

The 1926 Proof Penny also featured is formerly part of the famous Ray Jewell Collection of Australian copper coins.

It was bought in 2001 for $21,500, setting a record for George V copper coins. Today's value is $115,000.

To read the complete article, see: Old coins worth a mint (www.smh.com.au/money/investing/old-coins-worth-a-mint-20101012-16gos.html)

Wayne Homren, Editor

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