Rare $2,800 coin shock after Aussies told to check their change

Some “very rare” Aussie coins have sold for thousands of dollars at an auction in Sydney. One $1 coin fetched a staggering $2,800.

A $1 coin, 50 cent piece and 10 cent coin were among the sought after “mis-strikes” auctioned off by Noble Numismatics this week. Their value comes from the fact they were forged on the wrong coin denomination, like a 50 cent die being imprinted on a 20 cent piece.

“They are very rare. There are quite a lot of decimal error coins created but the Mint doesn’t release them, they put them to one side and re-use the metal,” coin expert Jim Noble told Yahoo Finance.

This rare $1 coin, struck on a 10-cent blank in error, sold for $2,800 at auction. (Source: Noble Numismatics)

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A 1984 $1 piece, struck on a ten-cent blank in error, was sold for a whopping $2,800. This was far higher than the auction house’s $750 estimate for the uncirculated coin.

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A 1978 50-cent piece, forged on a 20-cent blank, was bought for $2,000. Again, this was higher than the $1,500 price tag the uncirculated coin was expected to fetch.

Meanwhile, a 1994 10-cent piece, struck on a 5-cent blank, was bought for $850. This was below the auction house’s $1,500 estimate.

This 50 cent coin, forged on a 20-cent blank, was bought for $2,000. (Source: Noble Numismatics)

Aussies told to 'check change' for coins worth small fortune

While it is rare for these coin errors to leave the Mint, Noble said “they can be found in circulation” and encouraged Aussies to check their change.

He said mis-strike coins could be “quite valuable” but those with more minor errors were usually not worth as much.

Coins that have been struck off-centre can also be worth a small fortune, Noble said, with one 1972 50-cent coin struck half off-centre selling at the auction for $1,600.

This 50 cent coin was struck fifty percent off centre and fetched $1,600 at auction. (Source: Noble Numismatics)

“It’s quite dramatic. That was brought in by a lady who got it at the time it was issued in circulation and she held onto it,” Noble told Yahoo Finance.

The coins are among a collection going under the hammer this week.

Other highlights include two holey dollars, which was the first currency minted in Australia in 1813. There are only 300 in existence and they are estimated to be worth $120,000 each.

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