Known as "Australia's rarest penny", the 1937 Pattern Penny is one of the nation's most important coins. It was struck at the Royal Mint in London as part of the Great Recoinage - a complete revision of Australia's currency originally planned for the first coinage issue of Edward VIII, who abdicated in 1936.
This pattern was the first coin to feature what would become the reverse of the Australian penny coins until 1964.
The "regular" coin is double-sided. Uniface varieties exist. All coins were proofs.
Some coins were initially struck with an effigy of Edward VIII, which was removed after his abdication and the word "MODEL" struck instead. A small number of other specimens were then struck with the effigy of King George VI:
Bare head of King George VI facing left; around, the the monarch's legend in Latin GEORGIVS VI D : G : BR : OMN : REX F : D : IND : IMP. (George the Sixth, by the Grace of God, King of all the Britains, Defender of the Faith, Emperor of India); below the neck truncation in small letters are the artist's initials HP (for [Thomas] Humphrey Paget).