Queen’s funeral: Red Poppy and Purple Coronation Aussie $2 coins soar in value

Two rare Australian $2 coins have appreciated in value hours after Queen Elizabeth II’s state funeral.

Following Her Majesty’s death on September 8, the 2012 Red Poppy and Purple Coronation-colored $2 coins are now worth hundreds of dollars.

A Perth coin and banknote expert says the rare coins have collectively fetched up to $550, as billions around the world tuned in for the Queen’s funeral on Monday.

One of the rare coins that sold for a record $400 that night.

Joel Kandiah took to TikTok to explain why the value of the coins has skyrocketed.

“The market is hot for these $2 coins, the lowest minted colored circulating $2 coins in Australian history,” he explained on his TikTok account TheHistoryOfMoney.

“The coin collecting market is crazy right now.”

Since the 2012 $2 Red Poppy coin has a small mintage of 503,000, the rare coins sell for at least $150 and as much as $370.

The 2013 Purple Coronation had nearly double the mintage of 995,000, the value of which has increased from just $75 to $180 in the past week.

“The price of the coin was up 30-50 percent immediately after the news of her death and has since stabilized,” Kandiah said. 7news.com.au.

“At that time, it seems that the increased demand for the coronation coin also increased the demand for the red poppy.

“Since the Queen’s death, the price of the mint has increased from $310 to $400 in that time!”

Kandiah says the value of the coins will likely continue to grow, but could not provide a figure.

“How high they will sell is unknown, there are so many participants in the coin collecting market now and the hobby is growing, we will probably see a further increase but I won’t be able to put a number on it. ‘

For anyone thinking of having a rare coin, Mr. Kandiah suggests reading Rennik’s Australian Coin & Banknote Values ​​as a starting point.

The next step is to go to eBay and see what the coin has been selling for recently.

If you are still in doubt, a good dealer should give you a good understanding and a fair estimate.

Mr. Kandiah has set the record straight by declaring that he has no intention of parting with his Red Poppy and Purple Coronation coins.

‘Reminder: It’s my collection, I keep my coins as I please. Don’t tell me what to do,” he commented on his TikTok video.