A rare batch coin from the year 2000 is sold at auction for over $ 4,000.
Coin collectors bid through auction site The Purple Penny on a unique $ 1 coin, a so-called ‘mule’.
The mule is a hybrid of a 10 cent piece and a $ 1 coin and was in production at the Royal Australian Mint for a year before the flaw was discovered.
The coins are thicker than a regular $ 1 coin, with a double-edged border and a queen image on the reverse.
A rare ‘mule’ coin (pictured left) is sold at an online auction for over $ 4,000
The mule was created when a technician at the Mint in Canberra accidentally linked the crowd of ‘rose dollar reverse to the obverse of the queen’s head, normally used for the 10 cent piece’, the Blog about collecting Australian coins is reading.
The mule is listed for $ 4,250 and is described by the auctioneer as ‘the most beautiful we’ve ever seen’.
‘Easily in the top 10 of well-known coins of this type’, is the description. “Almost impossible to improve and represents excellent value.”
Steve Troha of Town Hall Coins and Collectables estimated that there would be about 6,000 of the mule coins in circulation.
He previously told Daily Mail Australia that most of the coins appear to have been shipped to Perth.
The first place they were discovered was the Burswood Casino [now Crown Perth],’ he said.
The coins are thicker than normal and heavier, with a double border on the outside, and are offered for $ 4,250 (photo)
“A gentleman who worked there and had access to the coins and went through them and presumably found 300 to 400 of them just through the casino – then it exploded in popularity.”
Mr. Troha said the coins initially sold for $ 300 each, but their value increased with their publicity.
“I wouldn’t call it a rare coin, I would call it a scarce, very well-published and well-known coin,” he said.
Minor flaws on common coins are highly sought after by collectors, but many go unnoticed because people rarely check them.
A small 2007 5c piece accidentally made with the queen’s head on either side sold for $ 3000.
Coin expert Matthew Thompson said that a particular coin error made the two-headed coin a rare ‘double obverse’ that could be worth thousands of dollars in good condition.
“The last one I sold was $ 3,500,” Mr. Thompson told Daily Mail Australia.
Numismatist Matthew Thompson of Town Hall Coins and Collectables with a rare $ 2 double-stamped coin worth $ 3000 due to an error of the coin during production
‘It was in top condition and was therefore worth thousands. One in very bad shape, you’d still see a few hundred for it, ‘he said.
Mr. Thompson said most people don’t check their coins and accidentally pass on rare coins worth thousands of dollars.
Others like to inspect every coin in their exchange jars, a process called ‘noodling’.
‘I’ve done it before when I have a bag of coins or change pots. If you spend just a little time on it, it can certainly pay off, ”he said.
Sometimes coins are cut during the minting process when the discs are not properly ejected along the conveyor during the manufacturing process.
The blank disc can also be double stamped by the high pressure die.
This 2007 two-headed 5c piece is one of the rarer coin errors. A coin in really good condition can sell for about $ 3,500, while those in bad condition can still fetch a few hundred
“People don’t expect institutions like the Mint to make mistakes,” he said.
‘But things can go wrong from time to time. If you see errors on a coin, if you have something interesting, strange or out of place, then other people will probably find it interesting too – that’s why people collect. ‘
Mr. Thompson noted that the $ 1 mule coins were of exceptional value.
“If you see two rings on your dollar coin, it could be worth a few hundred or up to $ 4,000 in very good condition,” he said.
A more common $ 1 variation is ‘rabbit ears’ on the jumping kangaroos, making a coin go up to $ 30 depending on the condition.
Detecting Downunder, a Facebook page operated by coin collectors, said the recurring error can be found on $ 1 coins from the years 1984, 1985, 1994, 1998, 2000, 2006, 2008, 2009, 2010, 2013, 2015 and 2016.
Facebook page Detecting Downunder said this common ‘rabbit ears’ error on the $ 1 coin in good condition could be worth up to $ 30. Many people have reported finding it in their change
The blank disc of this $ 2 was double stamped by the high pressure die during manufacture
More than 1,900 excited treasure hunters responded to Detecting Downunder’s post, some of which had found more than one.
“I only found mine a week ago when I changed a train ticket,” wrote Jual Robert Butler.
Detecting Downunder also reported that a rare 20c piece made in 1966 with a wavy baseline error on the number ‘2’ is now selling for up to $ 2000.
Although the Mint made 58.2 million 20c coins that year, only a few of them had the unique wavy baseline that made the defective coins valuable to collectors, Detecting Downunder wrote on Facebook.
If you happen to find one of these little beauties it could be worth a lot of money as these coins are currently selling for between $ 350 and $ 800 EACH on eBay, with one for $ 2000, and they are only getting more valuable every year . ‘ Detecting Downunder wrote.
This rare 20c piece made in 1966 with a wavy baseline error on the number ‘2’ is worth $ 2000. The bottom of the ‘2’ is usually straight
The way to spot a wavy baseline error is to look at the bottom of the number ‘2’ on the playtpus side of the coin.
On a normal coin, both the top and bottom edges of the bottom of the ‘2’ are straight.
The defective 1966 coin has a wavy top edge at the base of the ‘2’ that is clearly visible, while the bottom edge remains straight.
Many people also collect Australia’s pre-decimal currency, and while copper tokens are common, there are some years to be aware of.
Mr. Thompson advised people on pennies to look out for years 1925, 1930, and 1946 which could be worth a little or much more.