Check your wallet: Why these $2 coins are now worth an extraordinary amount after the Queen’s funeral
Two rare Australian $2 coins have soared in value hours after the state funeral of Queen Elizabeth II.
The 2012 Red Poppy and 2013 Purple Coronation colored $2 coins are now worth hundreds of dollars each following Her Majesty’s death on September 8.
A Perth coin and banknote expert says the rare coins have fetched up to $550 combined as billions around seats set for the Queen’s funeral on Monday.
Joel Kandiah took to TikTok to explain why the coins’ value has skyrocketed.
“The market has been hot for these $2 coins, which are the lowest mintage colored circulating $2 coins in Australian history,” he explained.
The 2013 Coronation $2 coin tip is solely due to the Queen’s passing, according to Mr Kandiah.
“The coin’s price had risen by 30-50 per cent immediately following the news of her passing and has stabilized since then,” he told Seven News.
‘During that time, it seems that increased demand for the coronation coin also increased demand for the red poppy.
‘Since the Queen’s passing, the price of the mint condition coin has risen from $310 to $400 in that time!’