The year 1928 was the 50th anniversary of British occupation of Cyprus, this coin was intended for circulation but was also to commemorate that anniversary. The denomination, 45 Piastres was included in the Coinage Order of 1900, but this was the first occasion when a coin of that denomination was issued.

There are 517 Proofs only

Obverse: B.M. letters on bust truncation is the name of the disigner (Edgar Bertram Mackennal)

Reverse: K·G (George Kruger Gray), below lions

The CYPRUS George V 45 Piastres 1928 in proof is relatively rare but it is at least offered from time to time in auctions.

Another CYPRUS coin is even much rarer: Edward VII 1907 18 Piastres. NGC/PCGS only have one of this coin in MS state, actually MC62 by PCGS. There is even a proof of that coin but I never saw it offered in an auction. You may see one in the following url:

https://collections.museumsvictoria.com.au/items/77284

Incredible details and highest quality!

By the way, there were minted 80000 coins for the 45 Piastres 1928 in business strike, and only (as said already) 517 pieces in proof.

@frigewil

I think there are no proofs of this type in private hands.

Thank You for this interesting post about Cyprus KM-19 Mint Cases. I never saw and never heard that coin came with a Mint Case. Really nice Crown size coin. Listed also in Davenport catalog as No. 242. Not so much we can find Crown size coins in the British Colonial coin series.

@vagoris 

In Pridmore's book "The British Commonwealth of Nations, Part 1, European Territories, 1960, by Spink & Son Ltd., he writes about the Cyprus 45 Piastres 1928 the following:1) 80000 minted (for the circulation strike), millesimal fineness .925, declared legal tender 28th April 1928. Except where stated, all coinages for Cyprus were executed by the Royal Mint, London.

1A) A proof 517

So it seems that Pridmore himself distributed two numbers of proofs for this coin: 517 and 525

When was his book "Modern Coins and Notes of Cyprus" published? The card box is very interesting, never seen and heard of! Thanks for the photo.

@bosch 

You are right, there are only few British Colonial Crown size coins. To name some:

Egypt 20 Piastres 1916, 1917; Zanzibar 1 Ryal 1882; South African Republic 5 shillings 1892; Union of South Africa 5 shillings 1947, 1951, 1952, 1953, 1959, 1960; Southern Rhodesia 1 Crown 1953; Bermuda 1 Crown 1959, 1964; Australia 1 Crown 1937; New Zealand 1 Crown 1935,1949, 1953; Cyprus 45 Piastres 1928.

In fact, the British colonial countries nearly minted any commemorial coins.

And here among Crown size British Colonial coins we must mention also a famous pearl Hong Kong Dollar! Straits dollars as well. And one more famous Africa dollar - Sierra Leone silver dollar, 1791.

And what we should mention first as a Crown size British Colonial coin is British Trade dollar. The British Trade Dollar was designed by George William De Saulles and minted from 1895 for Hong Kong and the Straits Settlements. But after the Straits dollar was introduced to the Straits Settlements in 1903, it became exclusively a Hong Kong coin produced until 1935.

Here is a picture of this nice and rare Trade dollar in proof finish: