Mistake on $1 coin that makes it worth $75

An Aussie coin enthusiast has revealed the small mistake that makes this $1 coin worth much more than its face value. People across the country have found coins that can be sold for tens, hundreds or even thousands of dollars due to a variety of unique factors.

Victorian coin collector Michael McCauley told Aussies to look out for 2001 Federation of Australia $1 coins featuring “rotation” errors. That’s when the heads side of the coin is not properly aligned with the tails side of the coin.

The Royal Australian Mint made 27.9 million of the 2001 Federation coins. They feature the effigy of Queen Elizabeth II on the heads side and a design commemorating the centenary of federation on the tails.

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“When you flip it around, the [head of the] coin is not supposed to be pointing in that direction. She is supposed to be pointed at 3 o’clock on the coin,” McCauley explained on TikTok.

“These coins - the year 2001 $1 coins with the map of Australia on the front - are known to have the error called a rotation.”

McCauley said the $1 coins were worth between $26 and $75, based on coins that have been recently sold on eBay.

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According to coin collector site The Purple Penny, there was a problem with the die during manufacturing which allowed one of the dies to rotate. This caused all degrees of rotation in the resulting struck coins.

With a regular coin, the heads (Queen or King) should be looking at you straight on and facing upright. If the head is facing anything but upright - such as leaning over or upside down - this will be a rotation error.

Valuable $1 coins

It’s not the only valuable $1 coin to keep an eye out for.

A 2000 $1 coin featuring a “double rim” around its perimeter (instead of just one rim) can fetch as much as $3,000 online, based on the coin’s condition. These error coins are known as a ‘mule’ coin.

Another 2005 $1 coin with a misprint could pocket you up to $2,000. The ‘Mob of Roos’ $1 coin have a printing error that means the heads and tails are struck off centre, with the ‘AUST’ in Australia missing from the heads side and the ears of three of the kangaroos also cut off.

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