Aussie Queen coin sparks selling frenzy

Prices are soaring to more than 30 times the original retail price for a 50-cent coin commemorating Queen Elizabeth II, released by the Royal Australian Mint.

Since the coin’s Nov. 23 release, the uncirculated coin originally sold for $15 is “fetching bids of more than $400 each on eBay,” according to Australian news agency The article included a screen image of one eBay seller listing the coin for $499 AUD (about $448 Cdn).

The coin, available in silver Proof and Uncirculated, features the six royal effigies that have appeared on Australian coins. According to the news article, “the mint’s decision to not retail the new release on their e-shop and limit purchases to its call centre, on-site coin shop, and authorized distributors has ruffled feathers among the enthusiast community.

Disgruntled collectors are venting on social media, with rural residents feeling particularly slighted.”

Mint CEO Leigh Gordon called the coin a perfect tribute, encapsulating the queen’s monumental seven-decade reign.

“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.”

The 50-cent Uncirculated coin, presented in a card with a limited mintage of 25,000, retails for $15 AUD (about  $13.50 Cdn). The 50-cent Fine silver Proof coin, with a mintage of 7,500, retails for $135 AUD (about $121 Cdn).

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