ARE YOUR COINS WORTH A PRETTY PENNY?

WITH AUSTRALIA’S CASH USAGE RAPIDLY DECREASING IN DAY-TO-DAY LIFE, IT MIGHT WORTH LOOKING AGAIN AT THOSE LOOSE COINS IN THE CAR, OR IN YOUR COIN JAR AS THERE AE A DECENT AMOUNT OF AUSTRALIAN COINS THAT ARE CURRENTLY IN CIRCULATION WHICH ARE WORTH MORE THAN FACE VALUE.

What determines a coin’s worth in the numismatic (the fancy term for coin collecting) market will depend on how many coins were minted, the condition of the coin and whether the coin has a defect, known as an ‘error’. Along with market demand for a specific coin, these are the factors that can drive up the value. Here are four coins that you should look out for:

2007 5C DOUBLE HEADER

Don’t dump your five cent coins just yet! This is a spectacular example of an error coin where both sides of coins are heads. Supposedly, there’s only 700 of these in circulation and they can fetch you anywhere between $500 to a few grand, depending on the condition!

2012 $2 COLOURED REMEMBRANCE COIN

Commonly known as the ‘Red Poppy’, this is Australia’s first coloured coin that was released into circulation. Made to commemorate Remembrance Day, these coins were initially distributed through RSLs as a fundraiser but as many were left unsold, the rest were dumped into circulation. The popularity of coloured $2 coins rising in recent years, this coin can fetch you between $100 and $290, depending on condition.

1966 20c Wavy Baseline

When Australia moved into decimal currency in 1966, millions of 20c coins were minted in preparation. It was found down the track that there were two varieties of 20c: one being the regular and other being the wavy baseline. If you find a 1966 20c coin, turn it to the tails side and have a look at the base of the number ‘2’. If the top of the base is curved rather than flat, you’re looking at a minimum of $300!

2000 $1/10C MULE

Sometimes the Mint can make errors, and this is one of them! In 2000, a small proportion of $1 coins were minted with a regular tails side however the heads side was minted with a 10c die. What that means is the Queen’s head is slightly smaller and a double-rim effect is created on the heads side. This error is one of the most sought after and can fetch you at least $400.

While these are just a few examples, there are plenty of other rare coin varieties out there, making Australian coin collecting a fascinating hobby. Even if a coin isn't particularly rare, the variety of commemorative designs across denominations makes them worth collecting. If you do happen to come across a rare coin, make sure to speak to a reputable coin dealer. You can find one through Google by searching "ANDA Find a Dealer". So, next time you have some loose change, take a closer look – you never know what hidden treasures you might find. Happy hunting!