Pocket change into fortune? Man turns 5c coin into $2,000
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In a world where digital transactions are becoming the norm, it's easy to overlook the coins jingling in our pockets or tucked away in old jars and piggy banks.
But for one man from New South Wales, a closer look at his childhood money box led to an extraordinary discovery—a rare 5c coin that turned into a $2,000 windfall.
This isn't just any 5c piece; it's a coin with a manufacturing error from the Royal Australian Mint that makes it a collector's dream.
The coin, which was minted in 2007, features a double obverse—the late Queen Elizabeth II’s effigy appears on both sides.
What's more, the two heads are rotated 180 degrees from each other, a contrast to the standard alignment on regular coins.
The man, who remains unnamed, found this peculiar coin in his money box and, after a decade, decided to take it to The Purple Penny, an Adelaide coin shop.
There, a spokesperson known as Mark revealed that while there are likely several thousand of these error coins in circulation, they are mostly found in New South Wales, particularly around Sydney.
Mark shared: ‘There’s one person in Sydney who has found a hundred or more of them. They all have pretty much been found in and around Sydney.’
Initially, these coins fetched a few hundred dollars, but their value has surged over the past five to ten years, now reaching into the thousands.
The Purple Penny has dealt with a few rare coins in the past. Recently, a couple from NSW visited the shop with a coin that their son had found when he was 10-11 years old.
The son had been playing with money from his money box when he noticed the coin had two heads. His parents saved the coin and almost 10 years later, they decided to sell it. The coin was sold for $2000, which went straight to their son.
‘It’s not a bad return on investment for 5c,’ Mark stated.
However, Mark cautioned that finding such a coin is akin to winning the lottery.
With billions of 5c pieces in circulation and 59 million minted in 2007 alone, the odds are slim.
‘It’s basically one chance in 500 million,’ he said. ‘A person in Adelaide looks through hundreds (of 5c coins) ... they’ve looked through more than a million coins and never found one.’
But the 5c coin isn't the only piece of currency that could be hiding a fortune.
Money Expert Joel Kandiah, known on social media as @thehistoryofmoney, showcased the double-headed coin and estimated its value between $2,000 to $5,000.
You can watch his video here:
Source: @thehistoryofmoney/TikTok
He also mentioned other rare coins, such as the 'mule' coin from 2000, which combines elements of the $1 and 10c coins and can fetch up to $4,000, and a 50c coin from the same year with an incuse flag that could be worth up to $1,000.
Even more intriguing is the 1966 20c coin with a wavy baseline on the numeral two, which can earn a seller between $200 to $3,500.
And let's not forget the $2 red poppy coin from 2012, potentially worth up to $280.
The rarest of them all might be a 50c coin from 1988, which was mistakenly minted with the standard coat of arms instead of the special Bicentenary image.
Only two are known to be in circulation, with one recently selling for a staggering $14,750 through Downies Collectables.
They said: ‘As is customary, the creation of a special one-year-only 50c commemorative meant that the standard coat of arms 50c was not struck for circulation, and was naturally not included in the proof or mint sets of that year either.’
‘Indeed, no 1988 coat of arms 50c coins should exist.’
So, members, it's time to dig out those old jars and inspect your loose change. You might just be sitting on a small fortune.
Have you ever come across a rare or unusual coin? Share your stories with us in the comments below!
But for one man from New South Wales, a closer look at his childhood money box led to an extraordinary discovery—a rare 5c coin that turned into a $2,000 windfall.
This isn't just any 5c piece; it's a coin with a manufacturing error from the Royal Australian Mint that makes it a collector's dream.
The coin, which was minted in 2007, features a double obverse—the late Queen Elizabeth II’s effigy appears on both sides.
What's more, the two heads are rotated 180 degrees from each other, a contrast to the standard alignment on regular coins.
A man sold his rare 5c coin for $2,000. Image source: The Purple Penny
The man, who remains unnamed, found this peculiar coin in his money box and, after a decade, decided to take it to The Purple Penny, an Adelaide coin shop.
There, a spokesperson known as Mark revealed that while there are likely several thousand of these error coins in circulation, they are mostly found in New South Wales, particularly around Sydney.
Mark shared: ‘There’s one person in Sydney who has found a hundred or more of them. They all have pretty much been found in and around Sydney.’
Initially, these coins fetched a few hundred dollars, but their value has surged over the past five to ten years, now reaching into the thousands.
The Purple Penny has dealt with a few rare coins in the past. Recently, a couple from NSW visited the shop with a coin that their son had found when he was 10-11 years old.
The son had been playing with money from his money box when he noticed the coin had two heads. His parents saved the coin and almost 10 years later, they decided to sell it. The coin was sold for $2000, which went straight to their son.
‘It’s not a bad return on investment for 5c,’ Mark stated.
However, Mark cautioned that finding such a coin is akin to winning the lottery.
With billions of 5c pieces in circulation and 59 million minted in 2007 alone, the odds are slim.
‘It’s basically one chance in 500 million,’ he said. ‘A person in Adelaide looks through hundreds (of 5c coins) ... they’ve looked through more than a million coins and never found one.’
But the 5c coin isn't the only piece of currency that could be hiding a fortune.
Money Expert Joel Kandiah, known on social media as @thehistoryofmoney, showcased the double-headed coin and estimated its value between $2,000 to $5,000.
You can watch his video here:
Source: @thehistoryofmoney/TikTok
He also mentioned other rare coins, such as the 'mule' coin from 2000, which combines elements of the $1 and 10c coins and can fetch up to $4,000, and a 50c coin from the same year with an incuse flag that could be worth up to $1,000.
Even more intriguing is the 1966 20c coin with a wavy baseline on the numeral two, which can earn a seller between $200 to $3,500.
And let's not forget the $2 red poppy coin from 2012, potentially worth up to $280.
The rarest of them all might be a 50c coin from 1988, which was mistakenly minted with the standard coat of arms instead of the special Bicentenary image.
Only two are known to be in circulation, with one recently selling for a staggering $14,750 through Downies Collectables.
They said: ‘As is customary, the creation of a special one-year-only 50c commemorative meant that the standard coat of arms 50c was not struck for circulation, and was naturally not included in the proof or mint sets of that year either.’
‘Indeed, no 1988 coat of arms 50c coins should exist.’
Have you ever come across a rare or unusual coin? Share your stories with us in the comments below!
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