What's the big deal about the new Vegemite coin? Aussies are going wild over it!
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Vegemite, an Australian icon, has been around for a very long time – 100 years, in fact. To celebrate this milestone, the Royal Australian Mint released a new $1 coin for Vegemite's 100th anniversary.
And it’s sending coin collectors into a frenzy.
Collecting coins can be a fun and interesting hobby for anyone, of any age, plus, there's also the appeal of being able to invest in a high-demand commodity.
This is why many are keen to get their hands on the new $1 Vegemite coin that was released today (November 17)!
The Royal Australian Mint (RAM) said that the coin features a piece of Vegemite toast with a bite taken out of it on one side, and will be the last coin released by the RAM to feature the Queen’s face on the back.
They also revealed that this coloured coin will be part of a 2023 Year Set.
Joel Kandiah, a leading Aussie coin expert, predicted that the set will be in ‘hot demand’ for multiple reasons.
In a video he shared on TikTok, he said that the popularity of Vegemite, plus coloured coins will attract a lot of attention – especially since these will be the last coins to feature the late Queen.
He said: ‘Each year a theme is usually represented - in 2021, it was the 50th Anniversary of the Aboriginal flag; in 2022, frontline workers.’
‘Being the last [year] set that will feature the Queen, the demand will be exacerbated by that.’
‘I think it will be very popular on the basis that it is a well-designed coin, people have an affinity with Vegemite (whether they love it or hate it!) and people will want to add another coloured coin to their collections,’ he explained.
He also said that the mintage will be high, making it easy for people to collect the coins. ‘I hope that everyone that wants a set will get a hand on the set. It would be a nice memento for many collectors to celebrate the end of an era.’
He added: ‘It’s a simple design but I think it really represents a scene that is common across many households in Australia in the morning, that piece of toast with a slight layer of Vegemite across.’
Joel said that the new set will be available at two price points: ‘The uncirculated set will be $33 and the proof set is $130. They will be available from authorised mint distributors from Thursday.’
If you’d like to get your set from the RAM eShop, you’ll have to wait until December 1. ‘They are still dealing with issues from the 2022 Red Poppy release two weeks ago,’ Joel admitted.
Joel also reassured people that they should not ‘rush’ getting their hands on a set, because the mintage of these sets is ‘usually unlimited’, and even if the initial run ends, RAM will likely make more down the line.
For coin collectors out there, Joel said not to worry too much about the ‘price’ of the collector’s item. He also has some advice:
‘Lately, people seem to be obsessed with the price of the coin. But there is a saying “people know the price of everything but the value of nothing” - enjoy the hobby by getting something that appeals to you and you’ll value it even more!’
You can watch Joel’s video below:
What are your thoughts on this story? Are you looking to get your hands on a Vegemite coin? Let us know in the comments!
And it’s sending coin collectors into a frenzy.
Collecting coins can be a fun and interesting hobby for anyone, of any age, plus, there's also the appeal of being able to invest in a high-demand commodity.
This is why many are keen to get their hands on the new $1 Vegemite coin that was released today (November 17)!
The Royal Australian Mint (RAM) said that the coin features a piece of Vegemite toast with a bite taken out of it on one side, and will be the last coin released by the RAM to feature the Queen’s face on the back.
They also revealed that this coloured coin will be part of a 2023 Year Set.
Are you excited about the new coin? Credit: Shutterstock
Joel Kandiah, a leading Aussie coin expert, predicted that the set will be in ‘hot demand’ for multiple reasons.
In a video he shared on TikTok, he said that the popularity of Vegemite, plus coloured coins will attract a lot of attention – especially since these will be the last coins to feature the late Queen.
He said: ‘Each year a theme is usually represented - in 2021, it was the 50th Anniversary of the Aboriginal flag; in 2022, frontline workers.’
‘Being the last [year] set that will feature the Queen, the demand will be exacerbated by that.’
‘I think it will be very popular on the basis that it is a well-designed coin, people have an affinity with Vegemite (whether they love it or hate it!) and people will want to add another coloured coin to their collections,’ he explained.
He also said that the mintage will be high, making it easy for people to collect the coins. ‘I hope that everyone that wants a set will get a hand on the set. It would be a nice memento for many collectors to celebrate the end of an era.’
Joel is also a teacher based in Perth and uses his platform to educate people on the value and history of money. Credit: Thehistoryofmoney in TikTok
He added: ‘It’s a simple design but I think it really represents a scene that is common across many households in Australia in the morning, that piece of toast with a slight layer of Vegemite across.’
Joel said that the new set will be available at two price points: ‘The uncirculated set will be $33 and the proof set is $130. They will be available from authorised mint distributors from Thursday.’
If you’d like to get your set from the RAM eShop, you’ll have to wait until December 1. ‘They are still dealing with issues from the 2022 Red Poppy release two weeks ago,’ Joel admitted.
Joel also reassured people that they should not ‘rush’ getting their hands on a set, because the mintage of these sets is ‘usually unlimited’, and even if the initial run ends, RAM will likely make more down the line.
For coin collectors out there, Joel said not to worry too much about the ‘price’ of the collector’s item. He also has some advice:
‘Lately, people seem to be obsessed with the price of the coin. But there is a saying “people know the price of everything but the value of nothing” - enjoy the hobby by getting something that appeals to you and you’ll value it even more!’
You can watch Joel’s video below:
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