If you were to empty the pockets of an Australian in 1937, you might have found something unusual clinking against the pennies and florins; a massive, gleaming disc of silver that felt more like a medallion than money. This was the 1937 Australian Crown; a coin that was intended to celebrate a new King but ended up becoming a legendary "white elephant" of Australian numismatics.
Known affectionately (and sometimes derisively) as "Casey’s Cartwheel," the 1937 Crown is a fascinating piece of history that sits at the intersection of royal scandal, political ambition, and public annoyance.
Here is the story behind Australia's largest circulating silver coin.
A Royal Scandal and a New Beginning
The late 1930s were a tumultuous time for the British Empire. The 1937 Crown was originally conceived to commemorate the coronation of King Edward VIII. However, history had other plans. Edward famously abdicated the throne in December 1936 to marry Wallis Simpson, throwing the Royal Mint and Commonwealth coin production into chaos.
His brother, the stuttering and shy Bertie, ascended the throne as King George VI. The Australian government, eager to show loyalty to the new monarch, authorised the minting of a special five-shilling coin; the "Crown"; to mark his coronation.
This was significant because Australia had never issued a five-shilling denomination before. It was a coin born of celebration, but it carried the weight of an empire trying to steady itself after a constitutional crisis.
A Design Fit for a King
The 1937 Crown is widely regarded as one of the most beautiful coins ever struck in Australia.
The Obverse: Designed by Thomas Humphrey Paget, it features the "uncrowned" effigy of King George VI facing left. It is a dignified, simple portrait that captures the new King's stoic nature.
The Reverse: Designed by George Kruger Gray, this side features the great Imperial Crown, boldly placed in the centre with the date "1937" beneath it. It is uncluttered and regal, prioritising the symbol of the monarchy over complex scenery.
Why "Casey's Cartwheel"?
Despite its beauty, the coin was a disaster in daily commerce.
The nickname "Casey's Cartwheel" was coined by the Australian public to mock the Federal Treasurer of the day, Richard Casey, who had championed the coin's introduction. The "Cartwheel" part of the name was a nod to the massive British penny of 1797, which was famously heavy and cumbersome.
The public complaint was simple; the coin was just too big. Measuring 38.5mm in diameter and weighing over 28 grams, it tore holes in trouser pockets and didn't fit neatly into the cash drawers of shopkeepers. While it was initially hoarded as a keepsake, once it entered circulation, it was treated as a nuisance. It was so unpopular that production ceased after just one more year, with a much smaller run in 1938.
The Silver Specs
For the modern collector, the appeal of the 1937 Crown often lies in its composition. Unlike modern base-metal coins, this beast was struck in Sterling Silver.
Collecting the 1937 Crown Today
Today, the 1937 Crown has completely reversed its reputation. No longer a nuisance, it is one of the most popular coins for Australian collectors.
Because over 1 million were minted in 1937 (compared to only ~100,000 in 1938), the 1937 Crown is relatively affordable in circulated grades. However, finding one in Uncirculated or Choice Uncirculated condition is a different challenge. Because they were large and heavy, they suffered from "bag marks" (scratches from banging against other coins) very easily. A pristine example with smooth fields is a true rarity.
Whether you love it for the 92.5% silver content, the link to the Abdication Crisis, or simply because you want to hold a "Cartwheel" in your hand, the 1937 Crown remains a heavyweight champion of Australian history.
Do you have a "Casey's Cartwheel" in your collection? Please reach out to us and let us appraise your coins!