Rare Australian penny sells for over $38,000

ANKARA (AA) – A rare 90-year-old coin in Australia has been sold for nearly 60,000 Australian dollars ($38,207) in an auction, local media reported on Monday.

The 1930 penny was sold at a national online auction last night for 59,415 Australian dollars ($38,207) to a Western Australian bidder, who intends to pass the coin on to his grandchildren, ABC News reported.

The rare penny features a partial diamond with six pearls on King George V's crown, according to the report.

“They were released just after the stock markets crashed in 1929 and what's special about those is that they were never actually meant to be released,” Amanda Benson, head of fine art and luxury at Lloyds Auctioneers and Valuers, told the broadcaster.

Recently, the value of two more coins, released on the 60th anniversary of the late Queen Elizabeth II's coronation, jumped to 300 Australian dollars ($192) while their price each was only 2 Australian dollars ($1.28) in 2012.

*Writing by Islamuddin Sajid