Downies is an Australian numismatic company and the oldest coin and banknote auctioneer in the country.
Downies was founded in 1932, at the height of the Great Depression, by 16-year-old Phil Downie.
Originally a philatelic company named Palmerston North Stamp Company, Downies has grown into Australia’s leading coin and banknote specialist.
In 1963, Downies began conducting coin auctions, the first company to do so in Australia. The company’s position as a leader in the field was substantiated by the 2005 Reserve Bank of Australia sale, a unique auction of rare gold coins.
Expertise and services
Downies sells items via Mail Order or at its two outlets in Sydney and Melbourne. It publishes general and specialist catalogues, containing listings and information on their items -for example, Downies Money.
Orders can be made by phone, fax, email or the Downies website. Sales are subject to a bonus scheme, where collectors can accumulate loyalty points and earn rewards for buying from the Company.
The company regularly attends coin and banknote shows in Australia, and conducts three to five auctions per year.
The company also provides advice on investing in numismatics, describing itself as "unrivalled in the industry".
It is a distributor for the two largest issuing authorities in Australia, the Royal Australian Mint and the Perth Mint, and its relationship with mints around the globe has enabled it to provide a wide range of numismatic items to international and domestic clients.
The company is the official agent for the Royal Australian Mint in North America
Downies describes its team as being "experts in their field" and "rated as the best in Australian numismatics".
Downies deals in coins, accessories and books, postage stamps, medallions, banknotes and medals.
In 2005, Downies hosted a sale of the Reserve Bank of Australia's (RBA) stockpile of coins, dating from the 1920s to the 1970s. The 2,472 coins sold for a total of Australian $4.9million, exceeding the estimated Australian $3million.
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