Check your spare change! You might have a rare $1 coin that could be worth $3,000
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Attention, members! Did you know that you might be unknowingly sitting on a potential goldmine?
Aussies are being encouraged to rummage through their loose change, for hidden within it could be a rare $1 coin that is said to be valued at an astonishing $3,000.
Yes, you read that correctly: $3,000! This revelation comes courtesy of Joel Kandiah, a coin expert and numismatist based in Perth.
He advised everyone to keep a vigilant eye out for a specific $1 coin, one minted back in the year 2000, which harbours a significant error originating from the Royal Australian Mint.
Mr Kandiah went on to explain that this error, depending on the coin's condition, could fetch its owner anywhere between $300 to $3,000 in various online markets.
It's a treasure hunt worth embarking on, and the potential windfall awaits those with a discerning eye for numismatic rarities. So, don't let your change slip through your fingers; it might just turn out to be a valuable piece of Australian currency history!
According to Mr Kandiah, these rare $1 coins, often referred to as 'mules', were mistakenly minted using the obverse die meant for Australian 10-cent coins. This unusual error occurred due to the slight 1.4mm difference in diameter between the 10-cent and $1 coins.
'In 2003, Australian coin collectors became aware of a significant coin error originating from the Royal Australian Mint,' Mr Kandiah said on his social media account.
'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.'
'Astonishingly, this error went unnoticed for a year or two.'
As a consequence of this intriguing mishap, the iconic 2000 $1 'mule' coin was born, becoming a sought-after collector's item.
Now, you might be wondering how you can distinguish a normal coin from this rare 'mule' coin. The answer is surprisingly simple!
'The smaller 10-cent die results in a pronounced double rim around the obverse of the coin, as clearly depicted in the accompanying image,' said the coin expert.
'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.'
When asked how many coins were expected to be in existence, Mr Kandiah said he believed that as many as 7,000 of these rare coins were in circulation out of a total mintage of 7.6 million.
Who would have imagined that the spare change jingling in your pockets and buried at the bottom of your purse could be worth thousands of dollars? Certainly not us!
So, right here and now, we're sharing this eye-opening revelation with you, dear members. It's time to rummage through your wallets and purses because, believe it or not, you might be sitting on a fortune without even realising it!
Aussies are being encouraged to rummage through their loose change, for hidden within it could be a rare $1 coin that is said to be valued at an astonishing $3,000.
Yes, you read that correctly: $3,000! This revelation comes courtesy of Joel Kandiah, a coin expert and numismatist based in Perth.
He advised everyone to keep a vigilant eye out for a specific $1 coin, one minted back in the year 2000, which harbours a significant error originating from the Royal Australian Mint.
Australians are being urged to check their loose change for a rare $1 coin that just might be worth as much as $3,000. Credit: Perth Mint.
Mr Kandiah went on to explain that this error, depending on the coin's condition, could fetch its owner anywhere between $300 to $3,000 in various online markets.
It's a treasure hunt worth embarking on, and the potential windfall awaits those with a discerning eye for numismatic rarities. So, don't let your change slip through your fingers; it might just turn out to be a valuable piece of Australian currency history!
According to Mr Kandiah, these rare $1 coins, often referred to as 'mules', were mistakenly minted using the obverse die meant for Australian 10-cent coins. This unusual error occurred due to the slight 1.4mm difference in diameter between the 10-cent and $1 coins.
'In 2003, Australian coin collectors became aware of a significant coin error originating from the Royal Australian Mint,' Mr Kandiah said on his social media account.
'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.'
'Astonishingly, this error went unnoticed for a year or two.'
As a consequence of this intriguing mishap, the iconic 2000 $1 'mule' coin was born, becoming a sought-after collector's item.
Now, you might be wondering how you can distinguish a normal coin from this rare 'mule' coin. The answer is surprisingly simple!
'The smaller 10-cent die results in a pronounced double rim around the obverse of the coin, as clearly depicted in the accompanying image,' said the coin expert.
'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.'
When asked how many coins were expected to be in existence, Mr Kandiah said he believed that as many as 7,000 of these rare coins were in circulation out of a total mintage of 7.6 million.
Who would have imagined that the spare change jingling in your pockets and buried at the bottom of your purse could be worth thousands of dollars? Certainly not us!
So, right here and now, we're sharing this eye-opening revelation with you, dear members. It's time to rummage through your wallets and purses because, believe it or not, you might be sitting on a fortune without even realising it!
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