The Royal Australian Mint has confirmed it is releasing a commemorative 50c coin to celebrate the life of Queen Elizabeth II.
The coin will feature all six effigies which have been featured on Australian coins during the late monarch’s reign, and will be released for sale on Thursday.
Two versions of the 50c coin will be available – an uncirculated version for $15 and the silver proof edition for $135.
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“With limited mintage, this coin is expected to be a highly prized addition to any coin collection,” the Mint advises.
So much so that Australian coin expert Joel Kandiah says online marketplaces are already being flooded with sales of the coin at “seven times the RRP” – even though it hasn’t been released yet.
The Royal Australian Mint is releasing a new 50c coin to commemorate the life of the late Queen Elizaebth II. Credit: Getty/Royal Australian Mint
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Royal Australian Mint CEO Leigh Gordon said this latest release was the perfect tribute to the late Queen Elizabeth II.
“Historically, coins bear witness to a Monarch’s reign with their royal effigies appearing on the obverse. In keeping with that tradition, this exceptional coin showcases the Queen Elizabeth II Memorial Effigy by Jody Clark on the obverse,” he said.
“The Mint’s trademark storytelling is strongly represented on the coin’s reverse, which features a central design depicting the first six effigies, fanned above the Queen’s royal cypher.”
Respected numismatist Kandiah says the surprise release by the Mint will be in hot demand.
The Perth coin and bank note expert — who uses the handle @TheHistoryOfMoney — has built a huge following on TikTok and Instagram with his insights on the value of various coins and bank notes.
He tells 7NEWS.com.au that collectors should expect a “frenzy” once the coins are released.
Both sides of the new commemorative coin. Credit: Royal Australian Mint
“It is essentially the last coin commemorating the Queen,” Kandiah tells 7NEWS.com.au.
“It is extremely special because it features all six effigies of the Queen that have appeared on Australian coinage since 1954, so it unique in that respect.
“There will definitely be a frenzy, which is why the RAM have reduced the allocation to just one per person through their physical store, through the phone and their authorised distributors.
“There have been murmurings about the coin for a while, so collectors are really excited to see it confirmed and able for purchase.”
The expert says the coins are already being sold on buy and sell pages.
“There are clearly some authorised distributors doing the wrong thing by giving access to these eBay sellers and I feel that the RAM needs to take a firmer line with these distributors to ensure this practice is put to an end,” he said.
He says that while the coins have “limited mintage” – the uncirculated coin is 25,000 and the silver proof version has an even lower mintage of 7,500 – he won’t predict how valuable the coins will be.
“As always I won’t make a call on this, but these will be very popular and hence will rise quickly in the secondary market,” he said.
“I strongly advise collectors that if prices rise by a large amount early, to wait a month for prices to fall.
“It happens with every release.”
Australian coin expert Joel Kandiah. Credit: supplied
How to buy the new commemorative coin
The Royal Australian Mint advises that the coins will be for sale at the Royal Australian Mint in Canberra from 8.30am on Thursday November 23, through the Mint’s Contact Centre on 1300 352 020, or through the Mint’s authorised distributors.
Kandiah suggests collectors take the following steps in order to get their hands on the in-demand coins.
“Try the online stores of the online distributors at the first point of release – https://www.ramint.gov.au/australian-coin-distributors – or call the mint store on 1300 652 020,” he said.