Bounty of valuable $1 coins believed to be in Perth

The distinctive double-rimmed coin. Photo: Australian Coin Collecting Blog.
The distinctive double-rimmed coin. Photo: Australian Coin Collecting Blog.

PERTH is believed to be a hot bed of rare double-rimmed $1 coins that could be worth between $1000 and $3000.

The coins, which came about as a result of a stamping error at the Royal Australian Mint in 2000, were mostly sent to Western Australia, according to the Australian Coin Collecting Blog.

A spokesperson for the Royal Australian Mint confirmed the existence of the coins, but said there was no definitive record of how many of the double-rimmed coins are in circulation.

MORE: Barnett may have breached Electoral Act

MORE: Seat of Jandakot set to go the wire

MORE: Stirling Mayor praises new Balcatta MLA David Michael

The blog states that the coins in question are dated 2000, and the rim of the coin on the side featuring the Queen’s profile appears doubled.

The coin is known by collectors as the $1/10c mule, and reportedly came about when “a technician at the Mint in Canberra accidently (sic) paired the mob of ‘roos dollar reverse with the Queen’s head obverse normally used for the 10c piece”.

The fact the 10c coin is fractionally smaller led to the appearance of two rims.

The blog states that should you find one of these mule coins, it could be worth in excess of $1000.

The blog also stated that the majority of the coins were sent to Perth, so be sure to check your change.