Old change, new fortune: Your old pre-decimal coins could be worth thousands

Australians could make a fortune with old pre-decimal coins hitting bids of up to $50,000 through live auctions.

The Noble Numismatics auction, running in Sydney from April 13 to April 17, is expected to see collectors place thousands of dollars in bids for extremely rare Australian coins, some of which date back to the 1860s.

Pre-decimal coins were issued between 1910 and 1964, and consisted of denominations such as the penny, threepence, sixpence, shilling, and florin.

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Now, these coins are highly sought after by collectors across the world for their historical value, silver content, and design.

The highest-value coin at the Noble Numismatics Sale will be the silver threepence from 1860 that features an Indigenous man with a boomerang, which is expected to reach bids nearing a massive $50,000.

A 1910 two-shilling piece (florin) in the auction is valued at $1,500, a 1932 florin could sell for $2,500, and a 1924 shilling for $1,500.

If a coin has incurred a mintage error, its value can skyrocket.

For instance, a threepence in this auction with an overdate of "1922/21" could sell next week for around $35,000.

Additionally, two rare 1930 pennies are up for sale, estimated to attract bids in excess of $15,000 each

Noble Numismatics will host the bidding event at 175 Macquarie Street, Sydney, directly opposite the State Library of NSW.

Managing director James (Jim) Noble told nine.com.au, "bidding will come in from all corners of the earth" specifically naming "China, India, the US and Europe" as nations where keen bidders are located.

"We have about several thousand people applying to bid, and we get about a thousand successful visitors at each sale," Noble added.

He said there's an increasing interest in pre-decimal coins, growing alongside the rising value of precious metals.

Australia's coins were composed of bronze or sterling silver before the nation adopted the decimal currency system in 1966.

However, following 1946, the silver content of these coins was reduced to 50 per cent.

Noble explained "the rise in the precious metal prices draw a lot of attention" and the better condition they are in, the more the coins will go for.

He says "there's a lot of people with misconceptions about the value of circulating decimal coins".

The confusion often occurs with circulating decimal token coins: they may have an unusual or "different design" but do not possess the "high intrinsic value like metal" seen in older currency, says Noble.

Despite this, exceptions exist.

The Managing Director noted that the red Poppy $2 coin "sells for premium sales for a couple hundred dollars when it's in its container".

Likewise, finding the first 1966 50-cent coin, or stumbling across a bank paper roll from that year, means you could swap it for up to $30 a coin.

Higher-value coins to look out for are:

- 1930 penny

- 1956 florin (two shillings)

- 1956 shilling

- 1953 and 1956 sixpences

- 1954 threepence

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