An Australian $2 coin’s valuation has increased significantly after the funeral of Queen Elizabeth II, according to a numismatist.
Time to dig through your pockets!
If there was ever a moment to dig through the dusty bags at the back of your closet, empty your pockets, and raid your piggy banks, now is it.
Without your knowledge, one coin among the many places where you stash your loose change could now be worth far more than it once did.
Joel Kandiah, a TikTok numismatist (someone who collects or studies coins), has shown that two Australian dollar coins could potentially be worth 250 times their original value as a result of yesterday’s (19 Septemberfuneral )’s for Queen Elizabeth II.
Two coins—one with a poppy flower in the centre and the other bearing a depiction of the Imperial State crown—”can bring up to $550,” according to Kandiah.
According to the numismatist, also known as The History of Money: “These two $2 coins, which are the lowest mintage coloured circulating $2 coins in Australian history, have been in high demand.
“Due to their limited mintage of 503,000, the 2012 Red Poppies are fetching prices between $150 and $370.
The 2013 Purple Coronation $2 coin, which had a mintage of 995,000 pieces and was worth between $40 and $140 before to the Queen’s passing, has seen an increase in value of up to 180% over the past week.
However, Kandiah cautioned 7NEWS.com.au that there hasn’t been “any significant change in the collectors’ value of £1, $1, and $5 notes,” so don’t get your hopes up if you find a spare note stashed away at the back of your cupboard.
“The standards for determining whether they are rare are still in place.
“Coins, however, are another matter. Three specific coins have seen significant movements, he continued.
Instead, keep an eye out for the Queen’s Platinum Jubilee 50c coin, the “Effigies Over Time” collector set, the 2013 Purple Coronation $2 coin, the 2012 Red Poppy $2 coin, and the 2013 Purple Coronation $2 coin.
For the Red Poppy in particular, Kandiah stated that “the level of demand has been unprecedented.” 503,000 of these coins have been produced, which is only 0.5% of all $2 coins ever produced, he continued.
Prior to the Queen’s departure, the coins had “a little bit of excitement” surrounding them, Kandiah thought. “And now they’re just shooting through the roof,” he remarked.
The 50c Platinum Jubilee coin, which has a mintage of 70,000, was $12.50 before Queen Elizabeth’s death and is currently being sold for “$100 each.”
The Effigies Over Time coin set, which was created to “commemorat[e] the new effigy of the Queen in 2019,” was formerly offered for $30 each set and is now worth “at least $160.”
The numismatist went to an auction on September 17 and spent $75 on an Effigies set. The set’s value has soared to $180 as of yesterday.
Kandiah replied, “I honestly can’t believe it.
The numismatist did, however, caution that it can be “extremely difficult to foresee the movements.”
Not everything, he said, “will go over the roof,” especially when “millions” of things, like $5 and $1 bills, are produced.
That hasn’t suddenly altered because the Queen has passed away, Kandiah continued, “And the unusual ones are often those with certain prefixes if it starts with an AA for example.”
Kandiah suggests checking “the Renniks Australian Coin & Banknote Value books” or simply going on eBay to get a “decent sense” of how much your coins are worth.
Kandiah thought: “The increase in pastimes like currency collecting after the outbreak has been absurd.
“the general acceptance of coin collecting After 27 years of collecting, I used to think I was a nerd. Children are now quickly reengaging in it.
There is now greater demand than ever for coins like these because of the gradual increase that has now “gone over the roof” this year.
Check your pockets definitely.