Founded in July 1932, Downies of Australia turns 80 years old this year. From humble beginnings of a stamp trading business started by 16-year-old Phil Downie the family business has grown to be a strong player in the global numismatics industry.
Downies initially traded as Palmerston North Stamp Company. After surviving the Great Depression, Phil Downie became one of the largest numismatic dealers in the southern hemisphere.
To satisfy the growing demand throughout the collectors’ market, Downies opened the doors to its first auction in 1963.
Conducted today in Melbourne’s iconic Block Arcade, Downies Australian Coin Auctions has witnessed over 300 successful sales.
The 1970s saw the emergence of the next generation. Upon completing studies at Monash University, Phil’s son Ken joined the company, bringing with him new visions and ideals that enabled the pair to continue the company’s development through both the good times and the bad.
Managing Director Ken Downie said that over his 35 years within the company, the opening of both Town Hall Coins in the heart of Sydney in 1991, followed by the opening of Melbourne’s Block Arcade retail store in 1994 have been the catalysts for enabling the company’s dreams of expansion.
“With clients currently reaching as far as Afghanistan and Argentina, we have adapted to the marketplace, encompassing additions to include mail order, retail shops and online activity. As today’s new chapter paves its way into our history we are as excited as the day we started,” Downie said.
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“As we enter 2012, we thank all those who have supported us along our journey and we are proud to be celebrating our 80th anniversary with you all.”