This $2 coin is now worth $3,000 – better start collecting!
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As we mentioned in a previous article, various industries saw a massive uptick in sales after the passing of Queen Elizabeth II, and one of those is the coin industry.
According to Joel Kandiah, a 'money historian' and an expert on Australian coins, three coins, in particular, have risen in value ever since the death of the monarch, and these are the Queen's Platinum Jubilee 50c coin, the 2013 Coronation $2 coin, and the 'Effigies Over Time' collection set.
The Perth-based coin collector also added that aside from these coins, the 2012 Red Poppy and 2013 Purple Coronation coloured $2 coins have massively shot up in value over the past few weeks, even though they have always been in 'hot demand'.
Now, it seems that a few other Queen-related coins and memorabilia are increasing in value following her death. According to Joel, there has also been gradually increasing demand for the $2 Mars coin, which was originally part of the 2017 Planetary Coins 10-Coin Collection.
The $2 Mars coin is now in demand. Credit: 7News.
In an interview with 7News, Joel stated that the original selling price of the planetary coin set was $170; however, the value of these sets has increased to as high as $6,000 in recent days.
That is a massive increase! And it appears that even Joel was surprised by how popular the coin collecting market currently is. 'I've honestly never seen anything like it,' he said.
'The market as a whole, I've never seen anything like this. Demand for this Planetary set - mainly because of the $2 Mars coin - has shot through the roof. Up until last week, they were clearing [selling] on eBay for $5,000 and $5,5000.'
'And the $2 itself is actually making up half the value of the set,' he went on to say.
For those who might not be familiar with the coin set, the Planetary set consists of 10 coins that range in value from one cent to two dollars (also includes two unique five-dollar coins), with each coin symbolising a different part of the solar system.
According to Joel, the collection saw a sharp increase in demand beginning in 2020, when the pandemic broke out. Before, these coins were typically sold for somewhere between $300 and $400, but following the COVID spread, almost everyone was 'hunting' for each and every $2 coin.
'The Mars $2 coin was within that set was one that people wanted in their collection,' he added.
'People started buying up the entire set because it's still relatively affordable. And that started pushing demand up for that coin specifically in a short space of time,' Joel continued.
But what's scary is that halfway through last year, the entire set was only selling for about $1,800 to $2,000. Now, the sets are being valued at $6,000.'
'It's purely down to people's attraction to the $2 Mars coin. To see its value increase nearly 30 fold in five years is beyond ridiculous.'
'The demand for the $2 Mars coin is unprecedented. There's just a lot of hype in $2 coins at the moment, especially since the Queen's passing,' he noted.
'It's really beyond anything I've seen.'
Credit: Royal Australian Mint.
Now, normally at this point, we'd tell you to go through your change jars and wallets in case any of these planetary coins had turned up, but sadly, Joel says that's not very likely.
'They were never intended to be in circulation,' said the coin collector. 'Unless someone decided to spend it since the $2 is the same shape and size as a regular $2 coin.'
However, he said that it's not entirely impossible. Meaning, there's still a chance you can come across it on a random day. 'It's beyond crazy what you find sometimes. For someone who has no interest in coin collecting, they just tear it off and put it back into circulation. But it's a rare thing, though…'
I mean, this is all we really needed to keep our spirits up! If Joel tells us that there is a possibility that we might find a rare coin, then you can bet that we will thoroughly check each and every coin that we have to make sure that we do not miss it. It is easy money, after all!
What about you, folks? Have you seen any of these rare coins around already? And do you have an interest in collecting them? Share with us what you think in the comments!
According to Joel Kandiah, a 'money historian' and an expert on Australian coins, three coins, in particular, have risen in value ever since the death of the monarch, and these are the Queen's Platinum Jubilee 50c coin, the 2013 Coronation $2 coin, and the 'Effigies Over Time' collection set.
The Perth-based coin collector also added that aside from these coins, the 2012 Red Poppy and 2013 Purple Coronation coloured $2 coins have massively shot up in value over the past few weeks, even though they have always been in 'hot demand'.
Now, it seems that a few other Queen-related coins and memorabilia are increasing in value following her death. According to Joel, there has also been gradually increasing demand for the $2 Mars coin, which was originally part of the 2017 Planetary Coins 10-Coin Collection.
The $2 Mars coin is now in demand. Credit: 7News.
In an interview with 7News, Joel stated that the original selling price of the planetary coin set was $170; however, the value of these sets has increased to as high as $6,000 in recent days.
That is a massive increase! And it appears that even Joel was surprised by how popular the coin collecting market currently is. 'I've honestly never seen anything like it,' he said.
'The market as a whole, I've never seen anything like this. Demand for this Planetary set - mainly because of the $2 Mars coin - has shot through the roof. Up until last week, they were clearing [selling] on eBay for $5,000 and $5,5000.'
'And the $2 itself is actually making up half the value of the set,' he went on to say.
For those who might not be familiar with the coin set, the Planetary set consists of 10 coins that range in value from one cent to two dollars (also includes two unique five-dollar coins), with each coin symbolising a different part of the solar system.
According to Joel, the collection saw a sharp increase in demand beginning in 2020, when the pandemic broke out. Before, these coins were typically sold for somewhere between $300 and $400, but following the COVID spread, almost everyone was 'hunting' for each and every $2 coin.
'The Mars $2 coin was within that set was one that people wanted in their collection,' he added.
'People started buying up the entire set because it's still relatively affordable. And that started pushing demand up for that coin specifically in a short space of time,' Joel continued.
But what's scary is that halfway through last year, the entire set was only selling for about $1,800 to $2,000. Now, the sets are being valued at $6,000.'
'It's purely down to people's attraction to the $2 Mars coin. To see its value increase nearly 30 fold in five years is beyond ridiculous.'
'The demand for the $2 Mars coin is unprecedented. There's just a lot of hype in $2 coins at the moment, especially since the Queen's passing,' he noted.
'It's really beyond anything I've seen.'
Credit: Royal Australian Mint.
Now, normally at this point, we'd tell you to go through your change jars and wallets in case any of these planetary coins had turned up, but sadly, Joel says that's not very likely.
'They were never intended to be in circulation,' said the coin collector. 'Unless someone decided to spend it since the $2 is the same shape and size as a regular $2 coin.'
However, he said that it's not entirely impossible. Meaning, there's still a chance you can come across it on a random day. 'It's beyond crazy what you find sometimes. For someone who has no interest in coin collecting, they just tear it off and put it back into circulation. But it's a rare thing, though…'
I mean, this is all we really needed to keep our spirits up! If Joel tells us that there is a possibility that we might find a rare coin, then you can bet that we will thoroughly check each and every coin that we have to make sure that we do not miss it. It is easy money, after all!
What about you, folks? Have you seen any of these rare coins around already? And do you have an interest in collecting them? Share with us what you think in the comments!
