Check your chump change now! The $1 coin that could be worth $3,000
Check your chump change now! The $1 coin that could be worth $3,000
Australians have been urged to check their $1 coins as some of the rarer coins could be worth as much as $3,000
A sharp-eyed coin expert has revealed that a small mistake made by the Royal Australian Mint when producing a batch of common coins increased their value by 3,000 times.
Perth-based numismatist – a fancy name for a coin collector – Joel Kandiah said: ‘Amazingly, this error went unnoticed for a year or two.’
Australians have been urged to check their change with certain $1 coins, worth as much as $3,000
A small mistake made by the Royal Australian Mint in the production of a batch of common coins increased their value by 3,000 times
He revealed the mistake in his popular TikTok account, the history of money.
βA batch of $1 coins from the year 2000 were accidentally produced with the wrong die on the obverse (head side) and subsequently entered circulation,β he said.
The coin used the ‘heads’ template intended for 10 cent coins rather than $1 coins, which meant that the raised part of the coin, which should have been on the edge, was instead slightly inward, creating a double edge.
βThe difference between a regular $1 and the ‘mule’ coins is that the latter has a ‘pronounced double border around the face of the coin,’β Kandiah said.
Given the 1.4 millimeter diameter difference between the 10 cent coin and the $1 coin, this error led to the creation of the “legendary 2000 $1 ‘mule’ coin.”
Since a coin’s value is determined primarily by its scarcity, these $1 coins can be worth a lot.
βIf you happen to discover one of these rare mules in your change, they could be worth anywhere from $300 to $3,000 depending on their condition,β Kandiah said.