Do you have thousands of dollars in your pocket?

Viewing 0 reply threads
  • Author
    Posts
    • #1815256
      Jan Fisher
      Keymaster

      Time to go through your change, a rare $1 coin has recently been valued at as much as $3000.

      Numismatist ­… that’s coin expert for me and you ­… Joel Kandiah has revealed an error made by the Royal Australian Mint which has considerably increased the value of certain $1 coins.

      Mr Kandiah said a batch of $1 coins from 2000 had a “significant coin error”.

      “A batch of $1 coins from the year 2000 had been mistakenly produced using the incorrect obverse die (the head side) and subsequently entered circulation,” he said.

      “Astonishingly, this error went unnoticed for a year or two.”

      Rather than featuring the intended design, some of the 2000 $1 coins were struck with the Australian 10c obverse die.

      The slight 1.4-millimetre difference in diameter between the 10c and $1 coin led to the creation of what is now known as the legendary 2000 $1 ‘mule’ coin.

      “If you discover one of these rare mules in your change, they can be valued between $300 and $3000, depending on their condition. Most coins you’ll find will be around the $300 mark,” Mr Kandiah says.

      He says identifying the coins is “relatively straightforward”.

      “The smaller 10c die results in a pronounced double rim around the obverse of the coin, as clearly depicted in the accompanying image. Because of the smaller die’s usage, the obverse strike often appears off-centre, as does the double rim.

      “Mules with well-centred obverse strikes typically command higher prices in the collector’s market.”

      I have no idea what he’s talking about, but for $3000 I might start looking.

      If you like that sort of thing, I highly recommend following Mr Kandiah on social media. He is engaging, informative and seems like a lovely sort of bloke. Follow him TikTok at @TheHistoryOfMoney and on Instagram @thehistoryof_money

      Check out what it looks like here.

      Do you collect unusual coins? Is it a hobby or a money-making venture?

Viewing 0 reply threads
  • You must be logged in to reply to this topic.