Small detail makes Aussie 5 cent coin worth $100: 'Ordinary looking'

Aussies are being told to check their change for an ordinary-looking 5 cent coin worth hundreds more than its face value. Aussie coins can carry a hefty price tag thanks to many small details, including the year they were minted.

Coin expert Matthew Thompson of Thompsons Coins and Collectables told Yahoo Finance that if you found a 1972 5 cent coin, it could be worth up to $100. That’s because only a relatively small number of the coins were made.

“The mintage was just over 8 million at 8.25 million so it’s considered to be a key date for 5 cent coin collectors,” he said. “They range from anywhere from $20 to $100.”

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While 8.25 million might seem like a large number of coins, it is quite small when compared to other years.

According to Downies Collectables the average mintage of the 5 cent coin is about 81.6 million. Some years have had an even higher mintage, with the highest being 306.5 million in 2006.

Thompson said the value of an individual 1972 5 cent coin would depend on its condition, with the ones still in mint condition worth the most.

“If it’s in really, really good condition it can go for quite a bit more but you generally won’t find really high grade coins in your change,” Thompson told Yahoo Finance.

“So for the most part the coins that you’ll find in your change would probably range around the lower end of the ballpark there.”

Thompson said it was a good coin to keep an eye out for in your change, particularly since it would only cost you 5 cents.

Other rare 5 cent coins to look out for

Error 5 cent coins can also be worth looking out for. As with all denominations, errors by the Australian Royal Mint are very rare.

A 2007 double portrait 5 cent coin - which had an image of Queen Elizabeth II on both sides - was recently sold for $2,000.

There are likely several thousands of the 5 cent error coins that were made, according to Mark Nemtsas from The Purple Penny whose shop the coin was taken into.

"Over the years, the price of these has sort of gradually increased from a few $100 to thousands of dollars," Nemtsas explained to Yahoo Finance.

"This one is what we call almost uncirculated so that means that it hasn't been in circulation for very long and doesn't have much wear, so it's as close to new as you can get without being new."

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