2007 Double Headed 5c

[ausjack]

:yahoo: I'm rich, I'm rich, I'm rich..now to find this $37 :blink:

[gnome]

If everyone has $37, start at your neighbours place first. Don't tell them what your doing if they catch you with your hand down the back of their couch. Or in their moneybox. Or start with pedros couch.

[ausjack]

:laugh2: always trying to get me in trouble G, you know I'm an :angel:

[Hercules]

I don't know why they even bother making new coins, because I keep most of them anyway. :grin:

[ausjack]

It's because of people like us they have to make new coins Herc :laugh2:

[LooseChange]

The article does seem to legitamise these coins... seeing as the mint posted it to their facebook page, as previously mentioned in this thread. Even speculates a mintage for this type of coin at 700. So not mint sport?

http://www.dailymail.co.uk/news/article-4307326/Australian-5c-pieces-fetch-thousands-dollars.html

Now there's a 5 CENT coin worth $2000: Collector sells his rare double- headed 'mule' for thousands - and there's another 699 in circulation

    The Australian 5c piece could be worth thousands more than its face value
    A coin collector discovered a 'doubled headed' coin which was minted in 2007
    Steve Treha found the coin after getting change from a Surry Hills coffee shop
    There is less than one thousand of the rare coin in circulation across Australia

Most Australians toss aside the pesky 5c pieces they find tucked into the corners of wallets and stuck in between the couch.

But the tiny coin could be worth upwards of $2000 dollars if it has the rare markings that eagle-eyed collectors are on the lookout for.

Coin collector Steve Treha from Town Hall Coins & Collectables stumbled upon a 2007 5c Double Heads piece when paying for his coffee in Surry Hills.

Mr Treha sold the rare coin - which has the Queen's head showing on both sides - for $1000 and it was then sold again for $2000.

The coin was minted accidentally with the reverse and obverse having the same design, and Mr Treha said only about 600 to 700 pieces like this escaped the mint.

'This coin was struck in 2007 and was first discovered in 2008 in change from a coffee shop on Commonwealth Street near the old Billy Hydes Drum Craft', Mr Treha told Daily Mail Australia.

'The first example sold privately for $1,000 in Uncirculated quality and that same example sold soon after for $2,000. More were discovered a few months later around the Sydney CBD area and the Balmain/Rozelle area.'

Mr Treha said it is likely that the Royal Australian Mint discovered the error shortly after dispatching the coins and they were all sent to the same area in NSW.

He said: 'They have scarcely been found outside of NSW due to natural circulation patterns. Having come across 20 to 30 examples since 2008, I'd estimate a mintage of just under a thousand coins.'

'This is hard to pin down due to the 5c being a neglected coin. The exciting part of that is many people have jars of 5c lying around and it is definitely worthwhile having a check through these.'

Rare 'error' coins like Mr Treha's double head piece can also be found on eBay for hundreds of dollars.

Coin collectors are willing to pay a high price for coins that were damaged in the minting process, with one even selling for $4000.

One coin which was stuck the wrong way during mintage is selling online for $490 and a similar 5c piece is on eBay for $149.

 The $1/10c mule coin, created in 2000, is also worth much more than its face value, with some being sold for more than $2,700 on eBay, according to coin collectors.

The coin must bear the 2000 date and is thicker than usual with a double rim on the Queen's side of the coin because of a mix-up at the Royal Australian Mint in Canberra, according to the Australian Coin Collecting Blog.

'The mule was made when a technician at the Mint in Canberra accidentally paired the mob of 'roos dollar reverse with the Queen's head obverse, normally used for the 10 cent piece,' the blog clarified.

Asking prices on eBay range from $980 to $8,500 but the final auction prices for the coin appear to range from $400 to $2,742.

'The value of your rare coin will now depend on the condition after spending 17 years in circulation some coins are more valuable than others,' the Australian Coin Collecting Blog said.

The coin's error was not realised until a year or two after it was released into circulation, and coin collectors claim they picked up on it in 2003.

'The majority of the 2000 $1 / 10 cent Mules were sent to Perth, where in 2003 and 2004 there was a frenzy of 'mule' hunting in the local casino and lots of dollar coins were withdrawn from Perth banks,' collectors said in 2009.

'The 'mule' hunt has slowed in the last few years as the number available in circulation is slowly reduced and diluted around the rest of Australia.'

'But, the mules are still out there to be found by those willing to look.'



Read more: The Australian Coin Collecting Blog

[Hercules]

The article does seem to legitamise these coins... seeing as the mint posted it to their facebook page, as previously mentioned in this thread. Even speculates a mintage for this type of coin at 700. So not mint sport?

Firstly, I don't take everything the mint says at face value. Secondly, I think the arguments made by other collectors on this forum are sound. The only way these coins could have been created is by using a proof press, and because they still found their way into circulation, it seems like a deliberate act. How many other proof coins do you know of that are actively circulating? :dontknow:

[ausjack]

Yes I think the mint is just trying to cover up that they have no clue as to what their employees are doing and if so why employ someone that doesn't know their head from their arse and puts wrong dies in million dollar machines...very suss, and how would they know the mintages unless they gave the go ahead to do it :dodgy:
And why aren't these people getting sacked if they're that useless.

[trout]

So not mint sport?

I call BS on that.
RAM is very good at producing alternative facts, I too think that they are just covering up for one of their own here.
What a load of cobblers and after 10 years how the hell can RAM come up with a definitive figure of 700 coins created by mint sport all of a sudden.

[Fulvio]

So not mint sport?

Not one word of that came from the mint. It came from a dealer who claims to have found 20 or 30 of these, in high grade.

I am somewhat bemused that the RAM is spreading this on FB and Twitter. Maybe they are trying to cover up, given that clearly some did make it into the wild. But who knows? When have we ever had the truth, the whole truth, and nothing but the truth out of the mint?

If I ever find one, I'll stash it with the rest of the stuff I've found. But no way am I ever paying more than 5 cents for one, no matter how much hype there is.

And one day, I WILL get back up there and pursue this in person, with the people on the shop floor.