Did you know a rare minting error on a 2016 Australian 5-cent coin could make it worth as much as $4,000? Coin collectors worldwide are on the hunt for this unique piece, nicknamed the ‘alien,’ due to its unusual features.
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What Makes the 2016 5-Cent Coin Special?
One of the main reasons collectors are so interested in this coin is the rare minting error known as a die clash. This error resulted in two antennae-like imprints on the reverse side of the coin, near the echidna design. These imprints are what earned the coin its extraterrestrial nickname.
According to Douglas Mcrostie, co-founder of Coinxchange, only around 10 of these coins have been discovered so far, making them exceptionally rare.
“They don’t actually know how many there are. They’re quite hard to find, and they’re quite desirable,” Mcrostie told Yahoo Finance.
The Value of the ‘Alien’ 5-Cent Coin
Uncirculated examples of the 2016 ‘alien’ 5-cent coin can fetch as much as $4,000. These coins are highly sought after due to their scarcity and unique features. Even circulated versions can carry a hefty price tag, with some selling for up to $1,000.
Limited Minting Adds to Rarity
The Royal Australian Mint only released approximately 5,000 rolls of these coins. As a result, finding one with the ‘alien’ error is an exciting challenge for collectors.
Mcrostie himself has been buying rolls of untouched coins from platforms like Facebook Marketplace and eBay, hoping to uncover one of these rare finds.
“We decided to buy a couple of rolls just to have a look through and see if any of those contain the minting error because it is possible,” Mcrostie shared.
How to Find Your Own ‘Alien’ Coin
If you’re intrigued by the idea of treasure hunting through coins, you can try your luck by purchasing rolls of 5-cent coins from the bank. Mcrostie explains this as a common hobby among collectors:
“It’s a big hobby that people have because it’s fun. You can build a collection if you find commemorative ones, but you can also find error coins. So a lot of people do this, and it’s how a lot of people get into the hobby.”
Even if you don’t find the ‘alien’ error, 2016 changeover coins are still valuable. They can sell for between $2 and $3 each, making the hunt worthwhile.
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How Much Does It Cost to Start?
If you’re looking to join the search, you can buy rolls of 5-cent coins at face value from your local bank. However, collectors like Mcrostie have also purchased rolls for as much as $140 in hopes of discovering an ‘alien’ coin.
“We’re trying to concentrate our odds,” Mcrostie said, highlighting the strategy of narrowing down the search.
The Allure of Coin Collecting
Coin collecting isn’t just about the potential payday. For many, it’s a fun and rewarding hobby. Whether you’re drawn to commemorative designs or the thrill of finding a rare error, the possibilities are endless.
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