A $2 coin released a week ago is worth more than $1,200 due to its rarity. On April 6, commemorating the 50th anniversary of Australia’s withdrawal from the Vietnam War in 1973, the Australian Mint issued a silver $2 coin with a colored design for the first time. Joel Kandiah, a well-known coin collector in Perth, Australia, said there was a 16-hour wait online to purchase the coin and a matching gold one while others waited in even longer lines at the Mint in Canberra.
The Mint set a $80 price tag on the silver-proof coin and a $15 price tag on the gold-proof coin. Each coin also includes a memorial portrait of Queen Elizabeth II and a UH-1 helicopter surrounded by a colored band representing the three ribbons awarded to Vietnam veterans. Popular silver coins are currently fetching $1,200 to $2,300 on eBay, while the gold version sells for around $80. Mr. Kandiah stated that there are two primary causes for the unprecedented value increase in Australian coin collecting.
The first reason for the excitement surrounding this coin, he told Seven News, is that “it is the first silver version of a coloured two coin, and will most likely be the only version that will feature the Queen’s effigy.” The 2018 Mars $2 coin from the Planetary Series collection is worth around $4,000, which has a lower mintage than that coin. He said many people were upset because automated programs bought up stocks online and sold them at a profit after the release.
Mr. Kandiah reported that by midafternoon on April 6, prices for the uncirculated (gold) coin had risen to $100 and for the silver coin to $300. The Australian Mint stated that the coins were produced in honor of Vietnam War veterans.