- 50c coin selling for 80 times its apparent value
- Low mintage makes it popular with collectors
By Max Aldred For Daily Mail Australia
Published: | Updated:
An unassuming coin that could be hiding in anybody’s pockets may be worth 80 times more than its face value, an expert has revealed.
The sharp rise in value relates to the production year of the Australian 50-cent piece.
These particular 50c coins are worth even more than antiquated round 50c coins.
Numismatist and TikToker Michael McCauley alerted Australians to the pieces, which were minted in 1985.
He explained very few 50c coins were minted in that specific year.
‘They only made one million of these coins in 1985 and it has a recent selling price of $15 to $40 each,’ McCauley said in the clip.
The coins include the second effigy featured on Australian 50c coins of the late Queen Elizabeth II, designed by British sculptor Raphael Maklouf.
The obverse of the coins features the most common Commonwealth Coat of Arms relief, sculpted by Stuart Devlin.
A coin collector revealed the 1985 50c coin could be worth 80 times its stated value
No 50c coins were produced between 1985 and 1988.
The Royal Australian Mint produces coins in accordance with the forecast demand of the banks.
Only 1 million 50c coins were again produced in 1993.
Australian coin expert Joel Kandiah told Yahoo finance that the 1985 50c coin was Australia’s ‘joint rarest 50c coin’ because of its low mintage.
‘This makes up a very small percentage of 50c coins minted overall,’ he said.
Listings on eBay show the coins listed between $35 and $60.
The 1993 coins are also more valuable than they look, however experts say they’re not worth quite as much as their 1985 counterparts.
‘I tend to find the 1985s harder to find. I think that’s because they are a bit older and probably more have been taken out of circulation for collection and things like that,’ Mr McCauley said.
‘But also some of them might have been lost along the way or damaged. When coins get damaged they usually get sent back to the Mint for destruction.’