As we delve into the fascinating world of numismatics, it’s not just the shiny, new collector coins that can catch the eye of enthusiasts and turn a tidy profit. Sometimes, the treasures are hiding in plain sight, right in our pockets or tucked away in old jars and drawers. It’s time to rummage through your change because you might just be sitting on a small fortune without even realising it!
One such hidden gem is the seemingly ordinary 10 cent coin from 1991, which could be worth up to 100 times its face value. That’s right, what you might dismiss as mere shrapnel could actually be a collector’s delight. But why is this particular coin so special? It’s not due to any minting errors, which are often the cause of a coin’s increased value. Instead, it’s all about scarcity.
Michael McCauley, an Australian coin collector, has shone a spotlight on this specific coin, urging people to keep their eyes peeled. The Royal Australian Mint’s production of 10 cent coins in 1991 was notably low, with only 4.8 million pieces minted. In the world of coin collecting, anything under five million is considered rare, especially for coins that are in circulation.
If you’re lucky enough to find one of these 1991 coins in good condition, you could sell it for anywhere between $1 to $7.50, according to recent sales figures. And if you happen to have one that’s uncirculated, meaning it has never been used in transactions and is in mint condition, Downies Collectables suggests it could fetch up to $10, though they note this might be a conservative estimate.
The 10 cent coin, featuring the iconic lyrebird design by Stuart Devlin, has been minted nearly every year since 1966. However, not all years are created equal when it comes to mintage numbers. For context, in 1988 there were a whopping 48.1 million 10 cent coins minted. The year 1991 stands out for its lower production, which the Mint attributes to the supply and demand of that particular year.
But wait, there’s more! Other 10 cent coins worth keeping an eye out for include the 1999 coin with a ‘large head’ mintage error, where the letters and numbers are pressed right up against the rim, a detail that can increase its value to around $2.20. The most expensive coin of this kind sold for $125, but it was graded MS-66, just shy of a perfect score in coin grading terms.
For those with a keen interest in numismatics, Downies Collectables recommends looking out for coins from years when the Royal Mint did not issue standard 10 cent coins, such as 1976, 1987, 1995, 1996, and 2003. These coins would have only been available in mint sets, making them rarer finds. The 1997 10 cent coin is particularly interesting due to an unexpected halt in production, making uncirculated coins from that year worth as much as $80.
It’s time to put on your detective hat and sift through your change. Who knows, you might just discover that you’ve been carrying around a small treasure. And if you do find one of these rare coins, remember that condition matters. An uncirculated coin, free from the wear and tear of everyday use, will always command a higher price.
Have you ever found a valuable coin in your change? Do you have any stories of unexpected windfalls from your coin collections? Share your experiences in the comments below, and let’s celebrate the thrill of the hunt together!
Also read: Buyer beware: The truth behind overpriced 1996 $1 coin listings
It is NOT a dime, it is an Australian 10c coin.