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High demand for new Queen Elizabeth 50c coin as price skyrockets

The 50c coin is already being sold for $200 on eBay - more than 10 times the original price.

A new 50 cent coin commemorating the late Queen Elizabeth II has been released to the public today and collectors are desperate to get their hands on it.

The Royal Australian Mint posted a photo of eager coin collectors lining up outside its building in Canberra for the coin, while others flooded the Mint’s phone lines only to be left disappointed when they couldn’t get through.

Two versions of the 50 cent coin are available for sale - an uncirculated version for $15 and a silver proof edition for $135.

Composite image of 2023 Queen Elizabeth II commemorative coin and line up outside Royal Australian Mint to buy.
Coin collectors were lining up outside the Mint in Canberra to get their hands on commemorative coin. (Source: Royal Australian Mint)

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The Mint said the “highly collectible” coin celebrated the Queen’s seven decades of service as well as the mark she left on Australian coinage and coin collecting.

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The tails side of the coin features the six effigies of the Queen that have appeared on Australian coins over time. They are framed with lily of the valley, one of the Queen’s favourite flowers, and golden wattle, Australia’s national floral emblem.

The head’s side features the Queen’s memorial obverse, along with her years of reign from 1952 to 2022.

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2023 Queen Elizabeth II commemorative coin
The 50 cent coin celebrates the Queen's seven decades of service. (Source: Royal Australian Mint)

Price skyrockets to $200

With limited mintage, the Mint said it expected the coin would be a “highly prized addition to any coin collection”. The uncirculated coin has a mintage of 25,000 and the silver proof version of 7,500.

Despite only being released this morning, the coins are already being sold on online marketplaces for much more.

On eBay, for example, the $15 uncirculated coins are selling for up to $200 each - more than 10 times the original price.

eBay listing for Queen Elizabeth II coin for $199.95 each.
Some sellers are already reselling the coins for up to $200 each online. (Source: eBay)

Aussies left frustrated

Aussies trying to get their hands on the coin have expressed their frustration after failing to get through on the Mint’s phone line this morning.

“I’ve only called 70 times in the last 6 mins … for it to drop out. Good times,” one collector wrote on social media.

“So disappointed, can't get through on the phone and people are already selling for profit on ebay... needs a better system,” another said.

“Shame for those who have to work and can’t spend hours on the phone or trying to get through,” another wrote.

Responding to one collector, the Mint said: “The sheer volume of calls results in our system crashing once there are more calls than phone lines available.

“Repeat dialling when your call doesn’t get through only results in the system being offline even longer.

“To maximise the chance to get the coin you’re after, instead of repeat dialling, we recommend give it 20 minutes or so before trying again. It might take a few goes, but it will give you the best chance of getting through on the phone.”

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