One of the great joys of being a coin collector is the thrill of the hunt; seeking out that rare find that will up the ante of your personal collection. Even more so when said rare find comes with a hefty price tag.

Unfortunately, some rare items being sold are overvalued and not worth nearly as much as their asking price.

Case in point: In a recent case, the item in question was an Australian $2 coin.

The coin in question has an 'HH' stamp, and was minted in the period between 1988 and 1989. It’s being sold online for astronomical prices—one eBay listing is asking for a whopping $7500, and another one is up for bidding starting at $6000.

According to Ensleigh Coins, a coin retailer, the coin is worth no more than its face value, and any potential buyers should be wary of any attempts to sell it for an inflated price.

A $2 coin was debunked for its ‘rarity’ as people on eBay are trying to sell it for an enormous amount. Image: eBay

'They have no value over their face value, and anyone who tries to sell them to you for more than that is scamming you and should be avoided like the plague,' he said.

But why aren’t they considered rare? This is because coins with the letters 'HH' engraved have been previously thought of as a rarity. In actuality, they have quite a high mintage—up to 200 million coins were produced.

These letters also represent the initials of Horst Hahne, the Royal Australian Mint’s chief engraver at the time the coin was introduced.

‘These coins are high-mintage items,’ they said.

‘If you come across these coins, rest easy in the knowledge that you are better off spending the $2 than sitting around worrying that you might have something of value. You do not.’

This has also been public knowledge since 2015, when an article on the Australian Coin Collecting blog debunked the theory of its rarity.

'So what's your 1988 or 1989 $2 coin with HH on it worth? Sadly, two dollars only,' the post reads.

‘Sorry if you came here thinking you'd struck it rich.’

It’s always a good idea to do your research when it comes to collecting coins or any other item of value for that matter—and that goes for buyers and sellers.

Key Takeaways

• An Australian $2 coin, advertised as 'rare' and priced up to $7500 on eBay, has been identified by experts as no more valuable than its face value.
• The 'HH' stamp, found on the coin and minted between 1988 and 1989, represents the initials of Horst Hahne, the Royal Australian Mint's chief engraver.
• Coin retailer, Ensleigh Coins, warns amateur collectors not to pay more than face value, stating up to 200 million of these coins were produced.
• According to a post on the Australian Coin Collecting blog, the $2 coin is not a rarity and is only worth $2.

What do you think of this story? Have you stumbled upon one of these $2 coins? Let us know in the comments below!

 

[MariaG]

If it seems too good to be true, it usually is. Buyer beware.

 

[Remnant777]

Seriously? would anyone believe this is worth more than face value? I collect $2 coins hand have at least 20 of these.

 

[Luckyus]

One of the great joys of being a coin collector is the thrill of the hunt; seeking out that rare find that will up the ante of your personal collection. Even more so when said rare find comes with a hefty price tag.

Unfortunately, some rare items being sold are overvalued and not worth nearly as much as their asking price.

Case in point: In a recent case, the item in question was an Australian $2 coin.

The coin in question has an 'HH' stamp, and was minted in the period between 1988 and 1989. It’s being sold online for astronomical prices—one eBay listing is asking for a whopping $7500, and another one is up for bidding starting at $6000.

According to Ensleigh Coins, a coin retailer, the coin is worth no more than its face value, and any potential buyers should be wary of any attempts to sell it for an inflated price.

View attachment 36960

A $2 coin was debunked for its ‘rarity’ as people on eBay are trying to sell it for an enormous amount. Image: eBay

'They have no value over their face value, and anyone who tries to sell them to you for more than that is scamming you and should be avoided like the plague,' he said.

But why aren’t they considered rare? This is because coins with the letters 'HH' engraved have been previously thought of as a rarity. In actuality, they have quite a high mintage—up to 200 million coins were produced.

These letters also represent the initials of Horst Hahne, the Royal Australian Mint’s chief engraver at the time the coin was introduced.

‘These coins are high-mintage items,’ they said.

‘If you come across these coins, rest easy in the knowledge that you are better off spending the $2 than sitting around worrying that you might have something of value. You do not.’

This has also been public knowledge since 2015, when an article on the Australian Coin Collecting blog debunked the theory of its rarity.

'So what's your 1988 or 1989 $2 coin with HH on it worth? Sadly, two dollars only,' the post reads.

‘Sorry if you came here thinking you'd struck it rich.’

It’s always a good idea to do your research when it comes to collecting coins or any other item of value for that matter—and that goes for buyers and sellers.

Key Takeaways

• An Australian $2 coin, advertised as 'rare' and priced up to $7500 on eBay, has been identified by experts as no more valuable than its face value.
• The 'HH' stamp, found on the coin and minted between 1988 and 1989, represents the initials of Horst Hahne, the Royal Australian Mint's chief engraver.
• Coin retailer, Ensleigh Coins, warns amateur collectors not to pay more than face value, stating up to 200 million of these coins were produced.
• According to a post on the Australian Coin Collecting blog, the $2 coin is not a rarity and is only worth $2.

What do you think of this story? Have you stumbled upon one of these $2 coins? Let us know in the comments below!

It's only worth what some mug will pay for it unless it's a real gold coin? A two dollar is worth two dollars.

 

[Veggiepatch]

"minted in the period between 1988 and 1989"

Off topic I know, but could someone PLEASE tell me what comes between 1988 and 1989? Something that been irking me, whenever I hear or read it, for years!!

 

[Veggiepatch]

"minted in the period between 1988 and 1989"

Off topic I know, but could someone PLEASE tell me what comes between 1988 and 1989? Something that been irking me, whenever I hear or read it, for years!!

FROM the years 1980 TO the present.