Your coin jar may hold hidden treasure worth thousands! Renowned coin expert Joel Kandiah reveals a secret error by the Royal Australian Mint that has made a batch of $1 coins worth a fortune.
Kandiah, known as @TheHistoryOfMoney on TikTok and Instagram, has gained a massive following with his expert insights on coins and banknotes. He explains that these sought-after coins are now selling online for anywhere between $300 and $3000, depending on their condition.
The story behind this hidden gem dates back to 2003 when collectors discovered a remarkable mistake. The Mint accidentally used the wrong die to produce a batch of $1 coins from the year 2000, resulting in a rare and legendary coin known as the 2000 $1 ‘mule’.
Instead of its intended design, the coin features the Australian 10 cent obverse, creating a distinct double rim on the obverse side.
Believe it or not, there could be as many as 7000 of these valuable coins floating around in circulation. Out of a total mintage of 7.6 million, the mule represents only 0.1%.
So, how do you spot one of these remarkable coins? Kandiah assures us it’s relatively simple. Look for the pronounced double rim and off-centre strike on the obverse side, as clearly shown in the image below.
Coins with well-centred obverse strikes are particularly sought after in the collector’s market. Don’t miss the chance to cash in on a potentially valuable coin hiding in your coin purse. Most coins you’ll find are valued around $300, but you might just hit the jackpot!