A new $2 coin commemorating the end of the Vietnam War has skyrocketed in value and is now selling for up to $1,200 online.
The Royal Australian Mint released two $2 coins earlier this month to commemorate 50 years since the end of Australia’s involvement in the Vietnam War.
The first coin was an uncirculated $2 C Mintmark gold coin, with a retail price of $15 and a mintage of 80,000. The second was a $2 C Mintmark silver coin, with a retail price of $80 and a mintage of just 5,000.
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The coins feature a UH-1 helicopter surrounded by the ribbons of the three medals awarded to veterans and the memorial effigy of Queen Elizabeth II.
Both coins were initially in high demand, but coin and banknote expert Joel Kandiah said the $2 silver coin had skyrocketed in price and was selling for up to $1,200 online.
“The first reason for the hype of this coin is that it is the first silver version of a coloured [$2] coin, and will most likely [be] the only version that will feature the Queen’s effigy,” Kandiah told 7News.com.au.
“It has a lower mintage than the most valuable coloured $2 coin, the Mars $2 coin from the 2018 Planetary Series collection, which is currently valued at around $4,000.”
The silver coins were completely sold out by the afternoon of their release, while the uncirculated gold coins were sold out by midnight.
Resale prices for the gold coin initially rose to $100, but had since fallen to around $60. The silver coin, however, has continued to rise in price and has now reached $1,200.
The Royal Mint said the coins commemorated the 60,000 Australians who served in the Vietnam War and the more than 500 who lost their lives.
“It was Australia’s largest military commitment in the second half of the 20th century, and one of the country’s most divisive episodes,” the Royal Mint said.
“This commemorative coin remembers the Vietnam War for the loss of life and the toll it took on those who served, and for the impact it had on Australia through a turbulent decade.”