Valuable coins in change
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This document provides information on valuable coins that could be found in change and what to look for, including non-circulating legal tender coins, low mintage coins, varieties, mules, upsets, mint errors, multiple struck coins, and coins struck on wrong planchets. It recommends examining coins closely and lists additional resources for learning more about Australian coins and errors.
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Valuable coins in change
- 1. Valuable Coins in Change NAAC2015 Kathryn Harris
- 3. Coin Sourcing and Tools
- 4. What to look for Non Circulating Legal Tender (NCLT) Made for collectors but has been spent Low Mintage Coins Worth more than face 1972 5c, 2001 State CoF 20c and 50c, coloured 2013-2015 $2
- 5. What to look for - Varieties Similar characteristics, intended or unintended 1966 Wavy 2 20c 2000 Incuse Flag 50c
- 6. What to look for – Mules Dies not normally used together to strike coin 2000 $1/10c Mule – 10 cent obverse die
- 7. What to look for - Upsets Obverse and reverse dies not oriented correctly 2001 $1 CoF Upsets All angles 2010 50c Upset 30o upset
- 8. What to look for – Mint Errors Coins manufactured incorrectly. Broadstrikes and off-center strikes Clipped Planchets
- 9. What to look for – Multiple Struck Coins struck two or more times. 2009 $2 Double Struck 1981 2c Struck Multiple Times in Collar
- 10. What to look for – Wrong Planchets Coins struck on an incorrect planchet 5c on 1c planchet (Wrong Denomination) $2 on Euro 10c planchet (Foreign Planchet)
- 11. More Information • Australian Coin Collecting Blog • Coin Forums (australian-coins.net) • Facebook Groups (Questions Only Australian Coins and Notes) • CAB Articles • “Renniks Pre Decimal & Decimal Coin Errors”
Editor's Notes
- Welcome everyone I’m Kathryn and my partner Mark and I are collectors and error coin enthusiasts We are owners and authors of The Australian Coin Collecting Blog and The Purple Penny We are regular contributors to CAB magazine and have contributed images to Ian McConnelly and his latest error book We scan our own change every chance we get looking for that special coin hoping that something unique escaped the Mint
- What is noodling? At the very least it’s scanning your pocket or the change from your recent purchase. It’s also more seriously going through bulk coin lots. More commonly people would search pre-decimal coins but is becoming increasingly popular to look through decimal coins Either way, noodling, hunting, searching, fossicking is where you can find more valuable coins worth in excess of their face value Many new collectors come to the hobby when they find something in their change that seems odd. They start taking a closer look at their change and begin to notice all the different commemorative designs Noodlers are looking for unusual coins, errors, varieties, coins with low mintage –particular dates or looking for one of every design This is a low cost way of adding to your collection simply for face value
- The easiest way to obtain coins is from banks. Usually this is free if you have an account with them. Banks source their coins from security companies or nearby retailers Banks or retailers who source from security companies more likely have new coins but it’s hit and miss You can’t source coins directly from the security companies Retailers (like at the Coles checkout) might be reluctant to hand over or swap bulk coins as they have paid the security company for their change. If you see they have new or special coins in the till it can’t hurt to ask for your change in the new coins! Use poker machines at pubs or clubs as a source of coins and entertainment. Put your banknote in, press collect, browse the coins, return to machine, collect, move to the next machine –don’t be tempted to play! Take full advantage of the free tea, coffee and snacks available within the establishment! Tools you’ll need to get started. Functioning pair of eyes and a good light source –choose your poker machine in a well-lit area. If you’re at home a comfy chair and felt work surface is good, a loupe or magnifier, a catalogue or list of what you’re looking out for, patience, persistence and that stack of coins To be successful you do need to learn what you’re looking for, read books or research online, and be able to tell the difference between an error coin and post mint damage If you find something odd, peculiar or different, set the coin aside and check it out again later. It may be something easily identified or require a bit of research by you or a chat with another collector
- What to look for… Whilst this is merely a guide, not complete list. We’ll focus on key coins you can find. Easy to spot, those worth more than face value , and those that hold prominence in local “folklore” NCLT is manufactured for the collector market. These coins often have the same specifications and fit right into circulation with just a different reverse that’s not intended to circulate. These are legal tender so sometimes have just been been spent! Commemorative coins are sometimes marketed not specifically to collectors and it’s more likely these coins will be taken from their packaging and spent. Coins such as the recent ANZAC collection 20c newspaper coins and mintmark coins from the gallery press at the Mint in Canberra have been spent because their owner was never a coin collector You can find mint set coins and proof set coins that have been spent. Identify these by their lustre and quality of strike. Proof coins are frosted, have mirrored surfaces and a distinctive appearance Circulation designs can have added mintmarks. This years ANDA shows privymark mob of roos dollars have a small letter within a square. These are easily overlooked and passed in change Low mintage coins such as the 1972 5c is a noodlers favourite, a circulated coin may fetch $5-$10 COF are popular and in recent years the coloured $2 have sparked a lot of interest from collectors
- Moving the search along to varieties. The “King” of varieties is the 1966 Wavy 20c. The Royal Mint in London minted 30 million 20c, now just one die was damaged producing distinct curve at base of the 2. Coming up to 50 years old these can still fetch $200 in a well circulated grade and are still found by noodlers. The 2000 Millennium 50c is found with an Incuse Flag. The Mint have said that a die intended to be coloured for use in Mint sets was made but the decision later changed and the die used for circulation coins -approx 200,000. These are characterised by the central Cross of St George and diagonal cross of St Patrick are incuse and the star is smooth. Well circulated examples might fetch$20-$50 up to over $1,000 for high grade unc.
- A mule is created when dies paired were not intended to be used together. In the year 2000 the Mob of Roos reverse was accidently paired with obverse Queen’s portrait intended for the slightly smaller 10c. This is a famous noodlers delight, we have been known to shout “yee haw” when a mule is found Smaller 10c die diameter is the key identifier, obvious thicker rim around portrait. Est mintage 6,000 these generally sell from $500 to $5,000 for a choice unc example These were originally found in their hundreds in Perth, at the Burswood Casino by poker machine noodlers
- Upset or rotated die is where one die rotates during the production run or the die is installed in the press at the incorrect alignment or the die is hubbed at the wrong angle to its locating mark 2001 COF $1 and 1966 10c are found in all angles of rotation Obverse die rotated continuously during production run giving all angles of the clock face. Differing angles can fetch different prices but generally $10-$150 for circulated and upwards of $100 for higher grade Explain quick determine of upset rotation between fingers, thumb and middle finger–need coin The 2010 50c can be found rotated just one angle of the dodecagon shape. If you noodle one of these expect to get $30-$50 The 2001 platypus 20c is a more recent discovery and can be found rotated 160 degrees and with perhaps a dozen known examples have sold for upwards of $100 each
- Mint errors or mis-strikes are mistakes and are coins that have been manufactured incorrectly. These can pop up anywhere and everywhere but are quite rare. If you look out for them you could find something –it’s not impossible. The most common error is the partial collar where the planchet didn’t seat in the collar correctly when struck. Expand this to a broadstrike then off-centre errors. Larger errors will get caught up at the security companies and never make it out but errors such as a partial collar make it into circulation quite frequently Clipped planchets also known as edge bites you can find anywhere, these generally won’t get picked up by coin rolling machines and can be found in mint rolls. They are a result of underweight planchets and have been incorrectly punched as a coin blank. Since the late 1980’s the Mint has brought in all coins blanks from South Korea, before this they manufactured their own blanks You can get a curved clip as shown, straight clips, end of bar clips or eliptical clips where a larger portion of the blank is missing –there are quite a few types. Coins can have multiple clips or more excitingly multiple errors. The size of the clip, the type of mis-strike, the grade and denomination all affect value but they will always be worth more than face value. An uncirculated partial collar 5 cent pulled from a mint bag could be worth $50. It is important to understand what features a genuine error will have. This will stop you wasting your time on coins that have post-mint damage or are made in the back shed and intended to deceive. Some coins like this have turned up in public auction form time to time and have been pullled from the auction when they’ve been alerted to their mistake. Features such as metal flow, fishtailing and the Blakesley effect can help you determine if the error is real. It’s always good to familiarise yourself with how the press works when striking a coin so you can understand how an error could have happened.
- Sometimes the press malfunctions. A coin can stay in the press or partly in the press and might be struck more than once. The coin on the left was pulled from a security bag along with quite a few others that are very similar. Most were found around the Sydney area. They are all a little different, each one unique. This coin has 2 visible dates which makes it worth more. The 2nd strike is out of collar and off centre. A similar example sold on eBay in September for just over $2,000 Multiple strikes can appear very different from the coin on the left which is an off centre double strike to the 2 cent on the right which has had multiple strikes within the collar. This type can also rotate between strikes. How we know the 2 cent error is real is looking at the lettering under loupe we can see fishtailing of the legends and there is tripling around the rim.
- Wrong planchets errors can be spectacular indeed. Moreso when the planchet is a different metal such as this copper-nickel 5 cent on a bronze planchet. Most will be rolled and sent out without being picked up The wrong denomination planchet has been found in many combinations. 50c on 20c, 10c on 5c, 2c on 1c most commonly in mint rolls Moving on from this might be when a planchet from another country gets mixed up in the barrel of imported blanks The other example pictured is a $2 struck on a foreign Euro 10c planchet. This one graded PCGS MS63. A PCGS MS62 sold 2 months ago on eBay for $2,100. Again these likely escaped the Mint and landed in Mint bags. A famous example is the 1981 20c struck on wavy flan Hong Kong $2 blanks. With only perhaps 10 accidently minted in Llantrisant, Wales one of these sold last year for around $20,000. In 1995 a United Nations 20c was struck on a thai temple token planchet. The Mint was striking these thai tokens and a blank must have got mixed up and struck as a 20c. Or imagine stumbling across a $2 coin that resembled a washer! That was the case for a lucky person finding a holed coin on a magnetic planchet If I’m losing you with pie in the sky just remember in 2010 a Woolworths shopper was handed $1 from the till as her change. It was obvoiusly different as it was struck on a bimetal planchet. The mob of roos dollar was easily identified by it’s edge lettering, it was struck on a planchet intended to become a Venezuelan Bolivar! You never know when the next mistake at the Mint will happen.
- It can be rewarding and cheap to find coins and only have paid face value for them. Whether they be worth $10 for a 1972 5c, $100 for a rotated 2001 20c or $500 for a 2000 $1/10c mule you can build a great error collection. Find something, not sure? Talk to other collectors, join a coin forum or Facebook group, read numismatic books and magazines or contact our Blog Thank you for your attention, happy coin hunting! Notes for Questions Mint sport coins. 2007 double head 5c. Dies have to have been intentionally paired wrong. Coins that just should not be. Oddities that are most likely described as Mint Sport when dies were paired and there is no other explanation other than a bit of Friday afternoon fun on the presses by Mint technicians. The 1977 Coat of Arms 50c (technically a mule –talk about mules a little later). The 50c produced in 1977 was the Queen’s silver jubilee. No Coat of Arms 1977 50c were struck according to Mint records. 1992 Mob of Roos $1. The Mint website purports 8,000 were minted no one has ever found one! (.008 million). Not issued in Mint sets, not into circulation (Barcelona commemorative). We believe there was one intended for auction by Downies –even made it into the catalogue but was accidently spent on a coffee Recently purchased a 5c coin blank. It turns out it’s been struck by the $2 coin press. So it’s a $2 struck on a 5c planchet. Off-metal wrong planchet.