Yahoo Finance Rare Aussie coin win - but can you make money from it?
Exclusive: There are 2 million of these beautiful coins out there and an expert has revealed how best to leverage their value.
A circulating Aussie coin has been internationally recognised once again - but does this mean the “intricately designed” piece will skyrocket in value?
Mint directors from around the world named the 2022 $2 Honey Bee as the best circulating coin in the world at its once-every-two-year conference in Canada.
There were 2 million of them made and put into circulation, which coin expert Matt Thompson told Yahoo Finance was the “benchmark” for a colour release.
So, does the accolade make it more valuable, and should you be trying to snap one up?
Have you made money off a rare coin? Contact belinda.grantgeary@yahooinc.com
“Effectively, with more prestige comes more collectability and desirability,” he said.
Thompson said the bee motif was a departure from the mint’s normal themes, which are predominately war related. And it’s that point of difference that makes it more appealing to collectors.
“A lot of collectors want something different and, obviously, it was a resounding success in the international market,” he said.
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“But the value comes down the track as people find it harder to get their hands on them. These are pretty accessible, even now.”
That doesn’t mean you shouldn’t try to get a hold of one.
“It wouldn’t surprise me at all if the value increased in the future,” Thompson said.
You can purchase one online for as little as $7.50.
Another coin that was celebrated alongside the Honey Bee at the International Coin of the Year awards in August - the $5 Great Barrier Reef coin - is now listed online for up to $600. It was originally sold for $140.
The ultra-rare $100 coin is listed on the mint’s website for a whopping $3,750.
What can make a coin more or less valuable?
Thompson said it wasn’t as clear cut as finding a Honey Bee in circulation and holding on to it to sell later because coin valuing is “a little bit more involved than that”.
“Things that don’t often get acknowledged is the condition of the coin,” he said.
“Some of these coins out there - saying, if you have the wavy 20c coin, it’s worth thousands, it doesn’t acknowledge that it needs to be in pristine condition. And circulated coins have marks on them, which impacts the value.”
The Honey Bee beat out a Pride coin issued in the UK and a French ‘Tree of life’ 2 euro coin, which was the first redesign since the introduction of the currency in 2002.
Honey Bee ‘worth celebrating’
The colourful Honey Bee coin - designed by the mint’s Aleksandra Stokic -celebrates the honeybee and has a bold orange honeycomb centre surrounded by the mighty pollinators.
“To produce coins as intricate and detailed as the humble Honey Bee coin is an intensive process and can only be created by true artists and artisans,” Royal Australian Mint CEO Leigh Gordon said.
“This type of hard work and dedication by dozens of people goes into creating the coins produced by the Royal Australian Mint every single day.
“This is definitely something worth celebrating and all Australians should be very proud of this tremendous achievement.”
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