For most of us, the idea of carrying loose change in our pockets has moved from being handy for parking, to an annoyance that makes you only want to use your card. However, that change takes on a whole new meaning when you consider that some of the best rare Australian coins in Australian history are both collectible and highly valuable.
The coin-collecting market has been hot in recent years but has been supercharged following the passing of Queen Elizabeth II in 2022, with several coins from the Royal Australian Mint that celebrated her Coronation and Platinum Jubilee skyrocketing in value.
With the coronation of King Charles III in May of 2023 and the updated currency entering circulation, rare Australian coins depicting Queen Elizabeth II have continued to rise in value, while the first coins depicting King Charles III have established an entirely new collecting market.
One of the other drivers of the increase in interest in coin collecting has been a Perth teacher by the name of Joel Kandiah, who has amassed a huge following of more than 131,000 followers on TikTok (@thehistoryofmoney) and 86,000 followers on Instagram (@thehistoryof_money). As a confessed numismatist and coin-noodler, heโs been collecting coins for nearly three decades and has taken to the platforms to educate his followers on the intricacies of collecting coins and the most valuable coins to look out for.
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What Makes Some Rare Australian Coins Worth A Fortune?
While you think finding a valuable coin or two when you pay for your coffee is easy, theyโre rarer than you might think. Of the 15 billion coins that were minted during the 70 years of the Queenโs reign, just 1%-5% of those are considered rare or special.
These are some factors that make rare Aussie coins valuable to collectors:
- Minting errors: You might think that a coin with an error on it is a dud, but given the strict quality control standards of the Royal Australian Mint, mistakes that make it into circulation are extremely uncommon. This rarity makes coins with minting errors very desirable to collectors.
- Low mintage: Another kind of rarity is coins that were officially released into circulation, but in relatively low numbers. Whether a coin qualifies as โlow mintageโ depends on a few factors, but generally speaking, a mintage of less than 500,000 is considered low.
- Historical importance: This one is obvious โ if itโs a coin that was produced to commemorate a historical event, itโll generally be rare, and have a wider collector market to include historical enthusiasts. An example is the 1927 Proof Canberra Florin, which was Australiaโs first-ever commemorative coin. It was given to dignitaries and officials, and just 400 were ever produced.
- Condition level: Another one that might be obvious, but if a coin has remained in excellent condition over the decades, itโs worth more money than the same coin thatโs been damaged. There are different grading systems to evaluate the condition of coins, so make sure to visit an expert to confirm the exact condition of any rare Aussie coins you might find.
With that in mind, letโs take a look at a few of the best rare Australian coins to keep an eye out for. Decimal currency might not be as practical or convenient as it once was, but that doesnโt mean some coins arenโt more valuable than theyโve ever been.
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5 Most Valuable & Rare Australian Coins Out Of Circulation (Antique)
1930 Proof Penny
Why Itโs Special: The Australian 1930 Proof Penny has the record for Australiaโs most expensive coin in history, with examples often achieving tens or hundreds of thousands of dollars when sold. Itโs highly desirable among coin collectors thanks to its excellent finish and sharp details, while also being extremely rare. A Sydney collector is reported to have paid $1.15 million in 2019 for a 1930 Proof Penny โ the highest ever paid for an Australian coin โ while other sales of non-proof examples are currently selling for high five figures.
Mintage: 1,500 according to some expert estimates; however, the Melbourne Mintโs official record claims just 6 examples ever struck
Market Price: $19,000 to $320,000 depending on condition
1852 Adelaide Type II Pound
Why Itโs Special: The Australian 1852 Adelaide Type II Pound was the first gold coin officially produced in Australia and struck during the gold rush at the Adelaide Assay Office. Due to the gold rush, it was issued as a critical form of standardised gold currency, cementing its place in Australian numismatic history. Its production run was already small, but examples were melted down for bullion, making strong examples today very uncommon and coveted among collectors.
Mintage: 250
Market Price: $17,000 to $40,000, depending on condition
1927 Proof Canberra Florin
Why Itโs Special: The 1927 Proof Canberra Florin was Australiaโs first-ever commemorative coin, and just 400 were ever struck during its single year of production. Many of the 1927 Proof Canberra Florin coins were given to dignitaries and officials when they were made, which, combined with the poor condition many have survived in, makes for a very small market of high-grade examples available today. The scarcity and the historical importance of 1927 Proof Canberra Florin coins make them highly sought after and extremely valuable today.
Mintage: 400
Market Price: $10,000 to $30,000, depending on condition
1918-P George V Gold Half Sovereign
Why Itโs Special: The 1918-P George V Gold Half Sovereign was the last half sovereign ever produced in Australia, marking the end of an era in the nationโs gold coinage. By 1918, the use of half sovereigns had declined, and most gold coins were melted down for bullion, resulting in an extremely small number of examples that remain in collectible condition.
Mintage: 200-300 (expert estimates)
Market Price: $6,000 to $20,000, depending on condition
1923 Half-Penny
Why Itโs Special: The 1923 Half-Penny is sought-after thanks to its low mintage, as one of the scarcest predecimal coins in Australian history. Examples were struck at the Melbourne Mint using a single working die and entered circulation without a special record, making high-grade examples extremely hard to find and valuable.
Mintage: 15,000
Market Price: $2,000 to $75,000, depending on condition
$2 Coins
2012 Red Poppy $2 Coins
Why Itโs Special: Youโve probably seen one of these red poppy coins before, as a two-dollar coin with a flash of red on its surface that was released to commemorate Remembrance Day. Released in two versions, both without a mintmark and with a โCโ mintmark, the circulation of the red poppy coin was never very large, making folks hot for these two-dollar coins.
Mintage: 503,000
Market Price: โThey are selling for between $150 and $370.โ Mr Kandiah explained in an interview.
2013 Purple Coronation $2 Coin
Why Itโs Special: The 2013 Purple Coronation 2-dollar coin was the very first time that the Royal Australian Mint released a coloured coin, with a distinct purple stripe on its surface. These rare coins have also seen an absolutely crazy jump in interest following the Queenโs passing, with the two coins weโve just mentioned enjoying a hefty combined price.
Mintage: 995,000
Market Price: โIts value has shot up to $75 to $180,โ Kandiah said in the same interview.
2015 Lest We Forget $2 Coin
Why Itโs Special: โThis coin was made to commemorate the centenary of the landing at Gallipoli,โ says Kandiah in a post. โThis coin is full of powerful imagery, with LEST WE FORGET in the middle, surrounded by a red circle.โ
Mintage: 1.46 million
Market Price: $20 to $50
2008 or 2009 Double Struck $2 Coins
Why Itโs Special: In a break from coins linked specifically to the Royal Family, another corner of collecting rare currency is what is known as โdouble-struckโ coins, where the coin has been stamped twice. Because of the rarity of these coins slipping through the Mintโs control processes, they command a hefty price.
Mintage: Unknown, but very rare.
Market Price: Up to $3,000
$1 Coins
2000 $1/10c Mule
Why Itโs Special: โA batch of $1 dollar coins from the year 2000 had been mistakenly produced using the incorrect obverse die (the heads side) and subsequently entered circulation,โ says Kandiah in an Instagram post. โAstonishingly, this error went unnoticed for a year or two.
โDistinguishing a 2000 $1 / 10 cent mule from a regular $1 coin is relatively straightforward. The smaller 10-cent die results in a pronounced double rim around the obverse of the coin.โ
Mintage: Estimated between 6,000 and 7,000.
Market Price: $300 to $3,500
2002 Year of the Outback โColoured Proofโ $1 Coin
Why Itโs Special: Designed by Elizabeth Robinson and Wojciech Pietranik, this coin was released in an uncirculated pack of six coins and is made special thanks to the blue and red colours printed across the map of Australia.
โIt is a very common coin, with 34 million of them minted; however, there is a coloured version in the mint proof set,โ explains Kandiah in a video.
Mintage: 39,513 (34 million of the non-coloured version)
Market Price: $80 to $460
2016 Changeover $1 Coin
Why Itโs Special: The 2016 Changeover $1 coin was released to commemorate 50 years since Australia switched to decimal currency, featuring a regular tails side, but a heads side with a smaller effigy of the Queen and a depiction of the pre-decimal Florin.
โThis is one of the rarest $1 coins you can find,โ Kandiah says, โit was one of six commemorative coins (released) to celebrate the occasion.โ
Mintage: 540,000
Market Price: $10 to 135
50c Coins
2022 Queenโs Platinum Jubilee 50c Coin
Why Itโs Special: Released last year to celebrate 70 years on the throne of Queen Elizabeth II, this coin was uncirculated and originally retailed for $12.50, but remains one of the most collectible new rare Australian coins.
Mintage: 70,000
Market Price: $70 to $100
2000 Millennium โRecessedโ 50c Coin
Why Itโs Special: To mark the turn of the millennium, a 50c coin bearing the Australian flag was released; however, while most had the central cross on the flag raised, a small number had the central cross recessed as well as larger and smoother stars. โ200,000 of those (16.6 million coins) have a rare error,โ explained Kandiah, giving you a good reason to keep an eye out for one.
Mintage: 200,000 (out of 16.6 million total)
Market Price: $50 to $800
1985 50c Coin
Why Itโs Special: In 1985, the Royal Mint announced a new effigy of the late Queen Elizabeth II, which was the second portrait of the Queen to be featured on an Australian 50c coin. It was produced in a low mintage, making it both historically important and the rarest 50c coin.
Mintage: 1,000,000
Market Price: $10 to $30
2012 Hyper-Metallic Coat of Arms 50c Coin
Why Itโs Special: This remarkable-looking coin was released in 2012 as part of a Six Coin Uncirculated Set and features colours on the Australian coat of arms.
โThis is one of the most valuable 50c coins to exist,โ says Kandiah, describing it as, โan absolutely striking piece of art.โ
Mintage: 58,554 (uncirculated and only sold in Royal Australian Mint collector sets)
Market Price: $200 to $300
20c Coins
1966 Wavy Baseline 20c Coin
Why Itโs Special: This is one of the rarest Australian coins there are, and one thatโs understood to be very valuable. โTurn (a 1966 20c coin) over to the tails side and look at the bottom of the number โ2โ,โ says Kandiah in a post about the coin. โAt the top of the base, if itโs wavy, youโre going to be in the money.โ
As the decimal currency we know today was first introduced in 1966, itโs believed the โwavyโ variation could be an early pressing error.
Mintage: Unknown, but very rare.
Market Price: $180 to $3,500
5c Coins
2007 Double-Headed Australian 5 Cent Coin
Why Itโs Special: โA 2007 5c coin with two heads! Unbelievable! [Theyโre] very hard to come across because the mint processes are so stringent now, to find error coins in this day and age is incredible,โ explains Kandiah about these rare coins. If you spot one, you could be in the money.
Mintage: Unknown, but very rare.
Market Price: $3,000
Coin Collector Sets
2019 โEffigies Over Timeโ 6-Coin Collector Set
Why Itโs Special: Another set of rare Australian coins linked to our late Monarch is the โEffigies Over Timeโ set, which includes all six Australian coins with different depictions of the Queenโs effigy as it evolved from 1953 to 2019.
Mintage: 14,736
Market Price: $250 to $1,000
2019 50th Anniversary Of The Dodecagon 50c Coin Pack
Why Itโs Special: This uncirculated coin pack was released in 2019 to mark the 50th anniversary of the famed dodecagon-shaped coin, featuring a genuine gold-plated 50c coin and the five different effigies of Queen Elizabeth II featured since 1969.
โEach of the coins are dated 2019, so itโs strange seeing different effigies with that date,โ says Kandiah about the set.
Mintage: 20,000
Market Price: $150 to $500
Overrated Rare Australian Coins
According to Joel Kandiah, there are a couple of rare Australian coins that didnโt deserve to be brought to life, as revealed in a recent interview on the Hamish & Andy Podcast. When asked by Andy Lee which he thought were the worst commemorative special edition coins, he named two specifically.
2011 Uncirculated Royal Wedding 50c Coin
Why It Isnโt Special: Created to mark the royal wedding of Prince William and Catherine Middleton, Royal Australian Mintโs renowned coin sculptor, Vladimir Gottwald, designed a trio of coins that depicted the couple.
โIn 2011, there was a coin to commemorate Catherine and Willโs wedding,โ explained Kandiah. โThe coin itself has probably been derided the most by the numismatic community.โ
โIt looked nothing like them. It was just this weird outline that lacked detail, like some scary ghost kind of picture.โ
Despite the community consensus on the coin, the Royal Australian Mint explained the coin went through a, โhighly consultative approval process with Her Majesty The Queen.โ
Mintage: Uncirculated
Market price: $30
2010 The Australian Taxation Office Centenary 1910-2010 20c Coin
Why It Isnโt Special: One of the least desirable commemorative edition coins is The Australian Taxation Office Centenary 20c coin, which was minted in 2010 to celebrate 100 years of the ATO. Featuring the inscription โWORKING FOR ALL AUSTRALIANSโ, itโs far from a popular coin among collectors.
โOne of the worst ones Iโve seen is the 100 Years Of The Tax Office,โ Kandiah explained, before joking, โAnd they take 30% off the end of it.โ
Mintage: 11.6 million
Market price: $3 to $10 (for carded special release originally given to ATO staff)
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