As you rummage through your wallet or the loose change jar at home, keep an eye out for a particular $1 coin that could be worth up to a staggering $350. Yes, you read that right! Amidst the regular clinking of coins, there might just be a hidden treasure waiting to be discovered.
Australian coin collectors are buzzing with excitement over a gold $1 coin that, due to a minting error, has become a collector’s dream. This isn’t just any ordinary coin; it’s the $1 Centenary of Federation coin, which was struck back in 2001 to commemorate the 100th anniversary of Australia’s federation. While 27.9 million of these coins were minted, featuring a proud map of Australia on one side and the regal image of Queen Elizabeth II on the other, it’s the ones with a quirky flaw that are catching everyone’s attention.
Doug Mcrostie, the founder of Coinxchange, has shared his insights with Yahoo Finance, explaining that these coins are known for having ‘rotation’ errors. This means that the images on the head (obverse) and tail (reverse) sides of the coin aren’t aligned as they should be. ‘It’s caused by the die rotating. What happened was there was a problem and it was rotating during manufacturing. So they actually printed a whole bunch of different rotations, so it’s not a specific 90 degrees,’ Mcrostie elaborated.
The rotation can vary, with some coins showing the Queen’s portrait at a 1 o’clock position, others at 2 o’clock, and so on, creating a full spectrum of error angles. The value of these coins can range from $55 to $350, depending on their condition. A well-circulated coin might fetch around $50, but if you stumble upon one in mint condition, you could be looking at the higher end of the valuation.
While it’s challenging to pinpoint exactly how many of these error coins are in circulation, Mcrostie estimates that there could be up to 10,000 of them out there. ‘There’s an estimated several thousand out there, so it’s probably more achievable than some of the other rare ones like the alien error and the wavvy baseline,’ he said, adding a personal touch to the tale, ‘I’ve been lucky enough to find one myself when I was noodling while having a glass of wine.’
The error coin he found, which points towards 7 o’clock, is estimated to be worth about $60. However, the most sought-after of these coins are those with the Queen’s image at a direct 180 or 190 degree angle. Mcrostie mentioned one collector who managed to acquire a full set of 12 coins, each with a different hour marked by the Queen’s misaligned portrait.
It’s not just the $1 coins that can have these rotation errors. Other Australian coins, such as the 2010 50-cent coin, 2001 20-cent coins, and even the 1966 5 and 10-cent coins, have been known to feature similar mistakes.
This rare $1 coin could be more than just pocket change; it could be a small fortune. So, take a moment to sift through your change – you might just be one of the lucky few to find a coin that’s not only a piece of Australian history but also a valuable collector’s item. Keep your eyes peeled, and who knows? You could be holding onto a piece of numismatic gold.
Have you ever come across a misaligned $1 coin or any other rare finds in your change? What’s the most valuable coin or note you’ve come across in your own collection? Let us know in the comments below—who knows, you might be sitting on a small fortune!
Also read: Could a rare dime be sitting in your wallet? It’s worth up to 100 times more!
