You might not think much about the small change in your wallet, but did you know a regular-looking Australian 5 cent coin could be worth up to $100? This surprising fact has caught the attention of many coin collectors. A small error on certain 2007 5 cent coins has turned them into rare treasures. Let’s explore why this little detail matters and how to spot these valuable coins.
The History of the Australian 5 Cent Coin
The Australian 5 cent coin was first released in 1966 when Australia switched to a decimal system. Its design hasn’t changed much over the years. One side shows an echidna (a spiny anteater), and the other side features Queen Elizabeth II. While most people think these coins are common, some special coins have a hidden detail that makes them worth much more than 5 cents.
The 2007 5 Cent Coin Error: What Makes It Special
The key to the value of this 5 cent coin lies in a small minting error from 2007. Normally, when you flip a coin, both sides should line up perfectly. But on some 2007 coins, the Queen’s portrait is slightly rotated, which makes the alignment off. This type of error is called a “double-headed” or “upset” coin. For coin collectors, this minor mistake has made these coins very valuable, with some fetching up to $100.
Why Are These Error Coins So Valuable?
Several reasons make the 2007 error 5 cent coins valuable. First, they are rare—minting errors like this one don’t happen often. Because only a few of these coins exist, collectors are willing to pay high prices. Second, the error is easy to spot, which makes the coin more desirable. Lastly, the coin’s condition is important. Coins that haven’t been used much and are in good condition can be worth more than those that show signs of wear.
How to Identify the 2007 5 Cent Error Coin
Wondering if you might have one of these valuable coins? Here’s how to check:
- The Year: Look for the year “2007” on your 5 cent coin. This is the year when the minting error occurred.
- Alignment Test: Hold the coin so that the Queen’s head is upright, then rotate it vertically. On an error coin, the echidna on the other side won’t line up perfectly and will be slightly off.
- Condition: Check the coin for damage. A coin in excellent condition is worth more than one with scratches or dents.
Why Do Minting Errors Happen?
To understand why these mistakes occur, it helps to know a little about how coins are made. First, blank pieces of metal are placed into a machine that stamps designs on both sides. In 2007, a small mistake caused some coins to be struck at the wrong angle, resulting in the misaligned design. Usually, minting errors are caught before the coins are released, but sometimes, they slip through.
Why Coin Collectors Love Error Coins
Coin collecting is a popular hobby, and collectors are always on the lookout for rare and unique coins. Error coins, like the 2007 5 cent coin, are especially prized because they are so rare. The demand for these coins has grown over the years, with collectors willing to pay high prices to add them to their collections. Online platforms like eBay and collector forums have made it easier for people to buy and sell these coins, further increasing their value.
Other Valuable Australian Error Coins
The 2007 5 cent coin isn’t the only valuable error coin from Australia. Here are a few other examples:
- 2000 $1 ‘Mule’ Coin: This $1 coin was struck with a 10 cent die, making it a rare and valuable error. Some have sold for as much as $4,000!
- 2001 Federation 50 Cent Coin: Like the 2007 5 cent coin, some of these coins have a rotated die error. Depending on how much the design is rotated, they can be worth hundreds of dollars.
- 1966 Wavy Baseline 20 Cent Coin: This 20 cent coin has a wavy line on the number 2, making it very valuable to collectors. It can be worth anywhere from $250 to $4,000, depending on its condition.
How to Sell Your Valuable Coins
If you think you have a valuable coin, here’s how to sell it:
- Get it Graded: Professional coin grading services can confirm the condition and value of your coin. A professionally graded coin is usually worth more.
- Do Some Research: Before selling, check online marketplaces to see what similar coins are selling for. This will help you set a good price.
- Choose Where to Sell: You can sell your coin on platforms like eBay, through a coin dealer, or at an auction. Each option has its pros and cons, but online marketplaces often get higher prices.
- Take Clear Photos: When listing your coin online, take high-quality photos that clearly show the error. This will help attract buyers.
Conclusion: Check Your Coins!
The story of the 2007 Australian 5 cent error coin reminds us to always check our spare change. This small mistake in the minting process has turned an ordinary coin into a highly valuable collector’s item. Whether you’re a collector or just curious, it’s worth looking at your coins closely—you might have a hidden treasure in your wallet!
FAQ
1. What makes the 2007 Australian 5 cent coin valuable?
The 2007 5 cent coin is valuable due to a minting error where the Queen’s portrait on the obverse side is misaligned. This rotational error makes the coin rare and highly sought after by collectors.
2. How can I identify the 2007 5 cent error coin?
You can identify the 2007 error coin by checking for a misalignment between the Queen’s portrait and the echidna when the coin is rotated vertically. The date should also be 2007.
3. How much is the 2007 error coin worth?
Depending on its condition, the 2007 5 cent error coin can be worth up to $100. Coins in better condition are typically worth more.
4. What should I do if I find a 2007 error coin?
If you find a 2007 error coin, consider getting it professionally graded to confirm its value. Once graded, you can sell it through a coin dealer, online marketplace, or auction house.
5. Are there other valuable Australian error coins?
Yes, other valuable Australian error coins include the 2000 $1 ‘Mule’ coin, the 1966 Wavy Baseline 20 cent coin, and the 2001 Federation 50 cent coin, all of which can be worth hundreds or even thousands of dollars.