Check your change now! Discover how rare $2 coins from Woolies could make you $3000 richer
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As we often say here at the Seniors Discount Club, it's the little things in life that can bring the most joy—and sometimes, the most unexpected windfalls.
For those who still enjoy the feel of cold hard cash in your hands, there's another exciting reason to take a closer look at your change, especially if you've recently shopped at Woolworths.
In a remarkable turn of events, it has come to light that rare errors on limited edition $2 Olympic coins, released through Woolworths supermarkets, could be worth a small fortune.
These coins, which were handed out at random to shoppers who paid with cash during July and August, are now causing quite a stir among collectors and the general public alike.
Yahoo Finance has revealed images of these imperfect Olympic and Paralympic coins, and it seems that the number of discoveries is on the rise.
Some of these coins have what's known as a bullseye error, where the coloured motif is mistakenly printed on the wrong side—in this case, on King Charles' face, which could be an Australian first.
Coin expert Mark Nemtsas from The Purple Penny has indicated that a bullseye error coin could fetch between $1,000 to $3,000 at auction if it's legitimate. In fact, other bullseye errors have sold for nearly $6,000.
This has led to a flurry of excitement within the collecting community, with one collector exclaiming, ‘Fantastic find,’ while another advised, ‘Keep hold of that one.’
Another collector remarked, ‘This coin is terrific to have in one's possession, very envious,’ noting that he’s seen ‘quite a few bullseyes’ in this release, which means there could be more out there.
However, the bullseye isn't the only error catching the eyes of eagle-eyed numismatists.
Another coin distributed in the major supermarket had the ‘C’ missing from ‘Charles’ and only the ‘RS’ in ‘dollars’ printed on the face side.
Mr Nemtsas explained that this was due to a die-fill error and had an estimated value of $30 to $50.
‘Grease or oil fills in the letters or other features on the dies and when the coins are struck those features are not formed on the coin because the grease or oil is incompressible,’ he explained.
The Royal Australian Mint has acknowledged the errors and is looking into how widespread they may be.
Matthew Thompson of Thompsons Coins and Collectables remarked that it was ‘very uncommon’ for the Royal Australian Mint to make such mistakes, which is why these coins are so sought after and can command such high prices.
‘The Royal Australian Mint has some of the highest quality coins in the world and stringent procedures to stop these from happening,’ he noted.
‘So on the odd occasion it does, there’s a lot of excitement in the industry. But it can be difficult to research as the mint don’t really promote their mistakes.’
According to Mr Thompson, it's impossible to determine how many exist.
‘No one knows for sure which is sort of why they’re so popular and collectable because the amount out there that’s available would be really small. But no one knows a definitive production run on them,’ he explained.
Downies Collectables recently sold an uncirculated bushfire tribute $2 coin for an impressive $5,950.
However, with high value comes high risk. There have been reports of scams involving bullseye error coins.
Counterfeit versions of the firefighter coin were being sold to unsuspecting Australians, with sellers manually applying the fireball paint to the reverse side of the coin.
Mr Nemtsas warned that the proliferation of these fakes caused the market to ‘collapse’, but genuine coins can still fetch a high price if authenticated.
Meanwhile, Mr Thompson urged collectors to seek a professional opinion to avoid costly mistakes.
‘It’s important to be super wary with errors like that. People get caught out from time to time and end up losing thousands, so it can get pretty risky,’ he advised.
For those wondering how to get their hands on these Olympic Woolworths coins, they were released through Woolworths supermarkets every fortnight, with some limited edition albums also available from the Mint and Australia Post.
The coins featured three Olympic designs and one for the Paralympics. The ‘Allezaus’ coin was inspired by the popular European sports chant ‘Allez’, meaning ‘Let's Go’.
It depicted the team mascot, BK the Kangaroo, breakdancing—a sport newly introduced at the Paris Olympics.
The ‘Olympism’ coin showcased a Parisian Boxing Kangaroo, while the ‘Paralympics’ coin depicted the team mascot, Lizzie the frill-necked lizard, engaging in the sport of Goalball.
Recently, some customers voiced their frustration with Woolworths' policy on how cashiers distribute rare coins.
According to the supermarket, ‘all coins are distributed by chance and are only available while stocks last’.
‘My local stores have bags in the till but won’t open them. It’s ridiculous. They aren’t “allowed” to choose which coins I get, nor can they open a bag of them if they already have other coins in the till,’ one customer lamented.
Others were displeased when the coins appeared online for up to $200 a bag.
A Woolworths spokesperson stated that such resale practices were ‘clearly unacceptable’.
Have you ever found a rare coin in your wallet? What would you do if you found one? Would you keep it or sell it? Share your stories and insights in the comments below.
For those who still enjoy the feel of cold hard cash in your hands, there's another exciting reason to take a closer look at your change, especially if you've recently shopped at Woolworths.
In a remarkable turn of events, it has come to light that rare errors on limited edition $2 Olympic coins, released through Woolworths supermarkets, could be worth a small fortune.
These coins, which were handed out at random to shoppers who paid with cash during July and August, are now causing quite a stir among collectors and the general public alike.
Yahoo Finance has revealed images of these imperfect Olympic and Paralympic coins, and it seems that the number of discoveries is on the rise.
Some of these coins have what's known as a bullseye error, where the coloured motif is mistakenly printed on the wrong side—in this case, on King Charles' face, which could be an Australian first.
Due to printing errors, rare $2 Olympic and Paralympic coins from Woolworths could be worth thousands. Credit: Yahoo Finance Australia
Coin expert Mark Nemtsas from The Purple Penny has indicated that a bullseye error coin could fetch between $1,000 to $3,000 at auction if it's legitimate. In fact, other bullseye errors have sold for nearly $6,000.
This has led to a flurry of excitement within the collecting community, with one collector exclaiming, ‘Fantastic find,’ while another advised, ‘Keep hold of that one.’
Another collector remarked, ‘This coin is terrific to have in one's possession, very envious,’ noting that he’s seen ‘quite a few bullseyes’ in this release, which means there could be more out there.
However, the bullseye isn't the only error catching the eyes of eagle-eyed numismatists.
Another coin distributed in the major supermarket had the ‘C’ missing from ‘Charles’ and only the ‘RS’ in ‘dollars’ printed on the face side.
Mr Nemtsas explained that this was due to a die-fill error and had an estimated value of $30 to $50.
‘Grease or oil fills in the letters or other features on the dies and when the coins are struck those features are not formed on the coin because the grease or oil is incompressible,’ he explained.
The Royal Australian Mint has acknowledged the errors and is looking into how widespread they may be.
Matthew Thompson of Thompsons Coins and Collectables remarked that it was ‘very uncommon’ for the Royal Australian Mint to make such mistakes, which is why these coins are so sought after and can command such high prices.
‘The Royal Australian Mint has some of the highest quality coins in the world and stringent procedures to stop these from happening,’ he noted.
‘So on the odd occasion it does, there’s a lot of excitement in the industry. But it can be difficult to research as the mint don’t really promote their mistakes.’
According to Mr Thompson, it's impossible to determine how many exist.
‘No one knows for sure which is sort of why they’re so popular and collectable because the amount out there that’s available would be really small. But no one knows a definitive production run on them,’ he explained.
Downies Collectables recently sold an uncirculated bushfire tribute $2 coin for an impressive $5,950.
However, with high value comes high risk. There have been reports of scams involving bullseye error coins.
Counterfeit versions of the firefighter coin were being sold to unsuspecting Australians, with sellers manually applying the fireball paint to the reverse side of the coin.
Mr Nemtsas warned that the proliferation of these fakes caused the market to ‘collapse’, but genuine coins can still fetch a high price if authenticated.
Meanwhile, Mr Thompson urged collectors to seek a professional opinion to avoid costly mistakes.
‘It’s important to be super wary with errors like that. People get caught out from time to time and end up losing thousands, so it can get pretty risky,’ he advised.
For those wondering how to get their hands on these Olympic Woolworths coins, they were released through Woolworths supermarkets every fortnight, with some limited edition albums also available from the Mint and Australia Post.
The coins featured three Olympic designs and one for the Paralympics. The ‘Allezaus’ coin was inspired by the popular European sports chant ‘Allez’, meaning ‘Let's Go’.
It depicted the team mascot, BK the Kangaroo, breakdancing—a sport newly introduced at the Paris Olympics.
The ‘Olympism’ coin showcased a Parisian Boxing Kangaroo, while the ‘Paralympics’ coin depicted the team mascot, Lizzie the frill-necked lizard, engaging in the sport of Goalball.
Recently, some customers voiced their frustration with Woolworths' policy on how cashiers distribute rare coins.
According to the supermarket, ‘all coins are distributed by chance and are only available while stocks last’.
‘My local stores have bags in the till but won’t open them. It’s ridiculous. They aren’t “allowed” to choose which coins I get, nor can they open a bag of them if they already have other coins in the till,’ one customer lamented.
Others were displeased when the coins appeared online for up to $200 a bag.
A Woolworths spokesperson stated that such resale practices were ‘clearly unacceptable’.
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