Malawi had achieved its independence in 1964 and a new coinage of that date soon followed. The penny denomination had been a late arrival, though, first appearing dated 1967. And Malawi’s new coinage of 1964 was to be an abbreviated thing, too—this 1968 penny would be its last member.
As had been the case with the old Federation coinage, Malawi’s coinage of 1964-68 had been based on the old British system of pounds/shillings/pence. But it was a model which, by the mid- to late-1960s, was clearly headed for the exit.
Which brings us back to this 1968 penny. Its mintage indicates a common coin. But when I bought this piece out of a junk-box I was surprised when I got it home. I had expected it to catalog for a dollar or less, like the ‘67 Malawi penny. Instead, catalog on this 1968 penny was US$25.
All I can think is that this issue somehow got caught in Malawi’s 1971 switch to a decimal coinage.
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