That $1 coin buried under the pile of coins in your wallet could be worth at least $1,000.The $1/10c mule coin, created in 2000, is 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 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to Perth, where in 2003 and 2004 there was a frenzy of ‘mule’ hunting in the local casino and lots of dollar coins were withdrawn from Perth banks,’ collectors said in 2009.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.’