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January 5, 2012 – From the humble beginnings of stamp trading to a household name throughout the global numismatics industry, eighty years on, this renowned family business is stronger than ever! Founded in early July 1932 by a bright eyed and fresh faced sixteen-year-old, Phil Downie, Downies initially traded as Palmerston North Stamp Company. Emerging after the Great Depression, Phil Downie followed his dream – ultimately changing the face of the industry to become the largest Numismatic dealer in the southern hemisphere.
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In a bid to satisfy the growing demand evident throughout the collectors market, in 1963 Downies opened the doors to their first Auction. Conducted today in the depths of Melbourne’s iconic Block Arcade, Downies Australian Coin Auctions has witnessed over 300 successful sales.
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With the growing demand and a growing company, the 1970’s 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 which enabled the pair to continue their outstanding development through both the good times and the bad.
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Proud of their current achievements and looking forward to what the future will hold, 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’s city in 1991, followed by the opening of Melbourne’s Block Arcade retail store in 1994 has been the catalyst for enabling an expansion that was only ever dreamed about.
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“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” Mr Downie said. “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”.
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For more information on Downies visit its website.
