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?
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