What's wrong with the $2 Vegemite coins at Woolworths? Disturbing detail raises shopper's concern
- Replies 4
Recently, Woolworths supermarket introduced a limited-edition series of coloured $2 coins to celebrate Vegemite's centenary in Australia.
As the iconic and much-loved spread reaches an impressive milestone, the retail giant has produced three varieties of these coins to mark the occasion.
To collect these coins, Woolies customers need to pay for their groceries in cash and then hope to randomly receive one of these $2 coloured coins in their change.
The rules dictate that there is a limit of two coins per customer per day—a limit that, as we will see, might not be so strict after all.
The coins have become increasingly popular, with many collectors eager to get their hands on the full set. This interest, however, has led to some rather disconcerting discoveries – in particular, where people are selling their collections, or even entire bags of the coins, at incredibly inflated prices.
In one instance, three 'unopened' bags containing around 25 $2 coins each were offered for an eye-watering $650 on Facebook. In another post, $150 worth of these Vegemite-coloured coins were being sold for double their original value.
While scarcity is understandably part of the appeal for collectors, it's clear that limits are not being enforced, despite the two-per-person rule. Concerned with this apparent abuse, coin enthusiasts are left questioning how these sellers have managed to acquire such a large number of coins.
In response to these concerns, a Woolworths spokesperson stated that the resale of these coins is 'clearly unacceptable'.
They further added, 'The coins are a celebration of Vegemite's centenary, and we do not encourage the resale of these items. It is clearly unacceptable and does not meet our expectations and those of the wider community. We would also like customers to be respectful to our team members as the coins are handed out in change only and distributed at random.'
Australian coin expert Joel Kandiah also expressed concern regarding the inflated prices of these coins. He noted that 'bags are selling for $150-200 each, a price which is crazily overpriced given we have seen the coin collector market for modern issues crash in the last nine months'.
As some stores indeed managed to ration the coins and stick to the two-per-person rule, it remains unclear how entire bags of coins were made available to others. Kandiah suggests that it largely depends on the store and area management's handling of the release, but he also remains uncertain about the source.
If you're a collector with a passion for acquiring these limited-edition coins, it's crucial to exercise caution when exploring online resale options. Keep in mind that the value of these coins may not be as high as some sellers might suggest.
Let's not forget the true purpose of these coins – to mark Vegemite's centenary and not to make huge profits off fellow collectors.
What are your thoughts on this story? Have you recently come across these coins in your spare change? Also, have you encountered collectors and sellers on social media attempting to sell these coins at exorbitant prices? We await your comments below, and we encourage you to share your experiences with us!
As the iconic and much-loved spread reaches an impressive milestone, the retail giant has produced three varieties of these coins to mark the occasion.
To collect these coins, Woolies customers need to pay for their groceries in cash and then hope to randomly receive one of these $2 coloured coins in their change.
The rules dictate that there is a limit of two coins per customer per day—a limit that, as we will see, might not be so strict after all.
A Woolies shopper has spoken out after spotting an alarming detail in a haul of $2 Vegemite coins. Credit: Woolworths.
The coins have become increasingly popular, with many collectors eager to get their hands on the full set. This interest, however, has led to some rather disconcerting discoveries – in particular, where people are selling their collections, or even entire bags of the coins, at incredibly inflated prices.
In one instance, three 'unopened' bags containing around 25 $2 coins each were offered for an eye-watering $650 on Facebook. In another post, $150 worth of these Vegemite-coloured coins were being sold for double their original value.
While scarcity is understandably part of the appeal for collectors, it's clear that limits are not being enforced, despite the two-per-person rule. Concerned with this apparent abuse, coin enthusiasts are left questioning how these sellers have managed to acquire such a large number of coins.
In response to these concerns, a Woolworths spokesperson stated that the resale of these coins is 'clearly unacceptable'.
They further added, 'The coins are a celebration of Vegemite's centenary, and we do not encourage the resale of these items. It is clearly unacceptable and does not meet our expectations and those of the wider community. We would also like customers to be respectful to our team members as the coins are handed out in change only and distributed at random.'
Resellers on social media are inflating the prices of coins to exorbitant levels. Credit: Facebook.
Australian coin expert Joel Kandiah also expressed concern regarding the inflated prices of these coins. He noted that 'bags are selling for $150-200 each, a price which is crazily overpriced given we have seen the coin collector market for modern issues crash in the last nine months'.
As some stores indeed managed to ration the coins and stick to the two-per-person rule, it remains unclear how entire bags of coins were made available to others. Kandiah suggests that it largely depends on the store and area management's handling of the release, but he also remains uncertain about the source.
If you're a collector with a passion for acquiring these limited-edition coins, it's crucial to exercise caution when exploring online resale options. Keep in mind that the value of these coins may not be as high as some sellers might suggest.
Let's not forget the true purpose of these coins – to mark Vegemite's centenary and not to make huge profits off fellow collectors.
What are your thoughts on this story? Have you recently come across these coins in your spare change? Also, have you encountered collectors and sellers on social media attempting to sell these coins at exorbitant prices? We await your comments below, and we encourage you to share your experiences with us!
.png){kind=icon}
