Australians are being urged to search for a rare 50c coin that could be valued up to $115,000.
Background
The Australian 50 cent coin minted in 1988 commemorates the 200th anniversary of the arrival of the First Fleet.
The Royal Australian Mint decided on a standard coat of arms design for the coin.
The Coin Error
A small batch of coins was mistakenly minted with both a standard coat of arms and the 1988 date on its back.
This rare coin is known as a “mule” and is worth almost $4,750.
There are only two known 1988 50c coat of arms proofs.
Opportunities in Coin Collection
This represents a significant opportunity for collectors and enthusiasts to find rare decimal coinage.
Only one temporary issue for that year led to the standard coat of arms 50c not being struck for circulation, leading to the creation of rare coins.
Selling Rare Coins
There are two primary methods to sell rare coins:
eBay
Precautions: Set a minimum price higher than the face value. There’s no guarantee the buyer will complete the purchase. Be cautious of counterfeit listings and buyers pulling out.
Auctions
Auctions may provide more security, but costs and commission should be considered.
Price Check: Utilize platforms like eBay to research current selling prices of the coin:
Search for the full name of the coin and navigate to sold listings to gauge market value.
Compare the selling prices to determine an appropriate price for your coin.
Validation of Coin Authenticity
Consult experts such as Coin Hunter or the Royal Mint to confirm the authenticity of the coin you possess.
Authenticity checks can help prevent loss from selling counterfeit coins.
Conclusion
Rare coins can hold substantial value and provide an exciting opportunity for collectors, but caution is imperative in both purchase and sale.