Rare Australian $1 Mule Coin Sells for More Than $4000 Due to Royal Australian Mint’s Mistake! (See Pictures)
A rare Australian one dollar coin, known as a ‘mule’, is being sold at auction for more than $4,000. Check your jar of coins, if you are lucky you may find one! In 2000, a mix up at a mint lead to the creation of a rare $1/10c hybrid, also called as mule coin. And now, it is valued by rare coin collectors at thousands of times its face value.
A rare Australian one dollar coin, known as a ‘mule’, is being sold at auction for more than $4,000. Check your jar of coins, if you are lucky you may find one! In 2000, a mix up at a mint lead to the creation of a rare $1/10c hybrid, also called as mule coin. And now, it is valued by rare coin collectors at thousands of times its face value. While at the first glimpse, the mule looks like any other gold coin, on a closer look, you may be able to see a couple of crucial differences, including a double rimmed edge. Gold Coins of 12th Century Found During Road Construction in Chhattisgarh.
Australian Coin Collecting blog explains the incident saying that the coin was made when a technician at the Royal Australian Mint accidentally paired the kangaroo-patterned ‘tails’ side of the coin with the ‘head’ of a 10c piece. It is estimated that there would be around 6,000 of such mule coins in circulation. The majority of these coins are in Perth and the rare coin is in circulation. While the mule frenzy peaked around 2003 to 2004, the rare coin is still in circulation. Gold Coins Worth 'Millions of Euros' Uncovered From Beneath an Italian Theatre.
Other than the mule coins, there are currently five coins of 20 cents, one dollar and fifty cent denominations that could be worth thousands of dollars. Meanwhile, in 2010, an operator error during the production of Australian 50 cent coins caused the heads of some coins to be rotated at 30 degrees from the reverse ‘tails’ side of the coin. There were an estimated 200,000 of these coins in circulation. While it might be very hard to spot the error, some of these coins have previously sold for $50 on eBay.
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Even with the strict screening process, it is not known how many have made being used by Aussies. A spokeswoman for the Mint previously told 7NEWS.com.au was quoted as saying, "Due to the rarity of these coins, avid coin collectors are continually on the hunt in an effort to add these valuable coins to their collections."
(The above story first appeared on LatestLY on Sep 14, 2020 08:10 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).