The two lowest mintages of the old Penny coin were struck in 1950 and 1951 during the reign of King George VI. In 1950 they only made 240,000 coins that means for £1000 you could have bought all the 1950 Pennies they ever made. Until very recently numismatists have always thought that all the 1950 Pennies were shipped to Bermuda for use after World War II. Now we know that this information is wrong. They were also sent to the Bahamas in the West Indies.
How do we know? Because a good friend went to the Bahamas 50 years ago and advertised in the newspapers to buy these coins. For the past 50 years these coins have lain in his safe deposit box untouched. It was only when the bank closed down his branch that he had to do something with them. What he did was to offer them to us and we bought them all, all 1571 coins. Coincraft have purchased the largest and only hoard of 1950 Pennies in the world and they came from the Bahamas.
Now these coins were actually used in circulation, because after the War there was a great shortage
of small change. The island has a very salty atmosphere and thus the coins are very scarce in the higher grades. The coins on offer are in Very Fine condition and remember they only struck a total of 240,000 1950 Pennies for circulation. Most collections are missing this date of King George VI Penny, but now you can change all that.
Now you can add a Key Date 1950 Penny to your collection, while this Bahamas Hoard lasts. But there are far more collectors who want this coin than there are coins to satisfy those needs.