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When John Platts received a shipment of coins in preparation for the Year of the Rabbit, he had no idea how valuable they would be.
Key points:
- John Platts says he and his wife are struggling to keep up with demand for coins and stamps related to the Queen
- Some special edition sets are reported to have doubled in value overnight
- A commemorative coin for the Lunar New Year, the 2023 stamp is expected to be very valuable in the coming years
The silver 50 cent pieces, which arrived in decorative red folders, are likely to be among the last Australian coins to feature the image of Queen Elizabeth II on them.
And they bear a date stamp from 2023.
“People want to know if we have anything available for 2023 and we have coins that have already arrived,” said Mr. Platts from Mackay Coins and Stamps.
“We can’t send them back so we get to keep them … but they have to destroy anything not issued by the Royal Australian Mint.”
The north Queensland coin dealer believed that would make the coin very valuable for years to come.
“It will be very interesting to see what it will be worth in the coming years,” he said.
‘We’re all out’
As soon as news of the monarch’s passing spread, Mr Platts’ phone started ringing non-stop.
“People wanted something to do with the Queen’s Jubilees, the new platinum coins, coin sets, proof sets,” he said.
“I got a phone call from a man in Longreach and he said, ‘I’ve got $2,000 to spend and I’m going to spend it on Queen coins’.
“People want to put a little bit of their extra money into their queen.”
Demand had been so great for the husband-and-wife business that they had been processing a week’s worth of orders every day.
“We actually sent out more than 100 packages within 24 hours, and we ship them all over the world,” said Mr. Plates.
“From Japan to America, to China, Germany. [Coin collecting] is very popular in Germany.
“We sold out of everything in a week.”
Sir. Platts said that in times of turmoil and uncertainty, people often looked to coins and stamps as safe havens for investment.
The value skyrockets overnight
In the hours after the Queen’s passing was announced, a number of collectibles rose significantly in value.
Among them are a $1 bill, now valued at $6, and the recently released commemorative 50-cent Platinum Jubilee coin.
“It’s gone from $12.40 to $140 overnight,” Mr Platts said.
“And the Silver Jubilee, the 50-cent piece from 1977, everybody’s chasing it, so it’s doubled in price.
“Stamps are doing great too, just as rare … anything to do with the 1954 Coronation is going to be very popular.”
Sir. Platts said that while regular coins in circulation might not increase much in value, the special-edition coins — usually 50-cent coins — were worth keeping an eye on.
Collector sets issued for special occasions were also expected to increase in value.
The Health Hero set was released for 2022 and is the last official set with the Queen’s image on it.
“It’s very valuable, it’s doubled in price … up to about $200.”
Sir. Platts said the first series of coins with the King Charles III image would also be worth keeping in a safe place for the future.
“There will be a limited number of commemorative coins and they will be highly collectable,” he said.
“[The Royal Australian Mint] will produce a special 50-cent piece and a special $2 coin, and they will also be putting out gold and silver.
“If you can get your hands on them, they would be worth holding on to.”
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