Why $1 coin may be worth $2000

By Oonagh Reidy

Think your humble $1 coin is worth just one dollar? You may be very wrong.

Australia’s one dollar coin could be worth an awful lot more – as much as 2700 per cent more – if it was made in the year 2000.

That’s according to Australian Coin Collecting Blog, revealing the worth of the unique 17-year old $1 coins, which have fetched just north of $2,700 on eBay.

“It needs to be a year 2000 dated $1 coin. Then you need to look closely at the circular rim of the coin. Is it thicker than usual on the Queen side, appearing doubled?”, according to the blog’s recent post.

Also read: Australia’s new $10 note to take on counterfeiters

If the coin is doubled rimmed on the Queens head side, it’s a $1/10c mule, made accidentally by the Mint in Canberra, which “paired the mob of ‘roos dollar reverse with the Queen’s head obverse normally used for the 10 cent piece. Its slightly smaller size results in the thicker double rim.”

However, the sale value of your rare coin will now depend on its condition after spending 17 years in circulation.

Although the unique $1 coin has sold for anything from $425 to $2700 on eBay, some coin owners have pushed the asking price up to $8500.

“Some coins are more valuable than others,” the coin collectors blog notes.

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