The Aussie coins soaring in price after the death of Queen Elizabeth II
Coin dealers across Australia are facing a surge in demand for coins printed with the face of Queen Elizabeth II and collectors are willing to splash the cash.
The monarch's face has featured on Australian currency since 1953 when she first appeared on a range of the former imperial coins and continued on them when the country adopted decimal currency.
Steve Meharry, owner of Philatelics Australia in Adelaide, said since the Queen's death last week, collectors were especially interested in coins released to commemorate significant milestones during her 70-year reign.
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The Queen Elizabeth II Coronation $2 coin, issued in 2013, is fetching above-market prices. Downies.com
"There has been strong demand for the $2 coronation anniversary coin released in 2013," he told 9News.
"Ones that have been in circulation now fetch between $75 and $125 compared with about $50 before her death. And those coins that didn't reach circulation are worth up to $150 today."
Another popular coin has been the Royal Australian Mint's Platinum Jubilee coin, released earlier this year, which jumped in price to more $100 following the news of the Queen's death.
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Coin dealers have reported a surge in demand for coins bearing the head of Queen Elizabeth II. Royal Australian Mint
Meharry said there had been a 40 per cent to 50 per cent increase in prices for in-demand coins featuring the Queen's head.
He said the demand for stamps bearing the head of Queen Elizabeth II was difficult to gauge.
Like coin enthusiasts, stamp collectors were more likely to be interested in commemorative items from her reign such as the 1977 Silver Jubilee.
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Two postage stamps of Queen Elizabeth II issued by Australia Post to mark her Platinum Jubilee this year. Australia Post
Melbourne coin dealer Sam Seigel said his store, Max Stern and Co, had been inundated with inquiries from collectors over the past days.
But he cautioned people looking to make a quick profit by emptying their biscuit tins of old coins.
"The more commonly found ones from the 1950s and 1960s are quite cheap, fetching just a few dollars."
The federal government announced today that coins bearing the head of King Charles III will enter circulation in Australia "sometime in 2023".
Assistant Minister for Treasury Andrew Leigh said more than 50 billion coins with Queen Elizabeth II's effigy had been minted since Australia's decimal currency switch in 1966.
He also reassured Australians the coins featuring the Queen's effigy would remain legal tender.
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