Small error that may make $1 coin worth up to $75

Aussies paying with cash may want to take a second look before handing a $1 coin over, with a coin collector revealing an error on some coins that may make them worth up to 75 times their face value.

Australian coin collector and enthusiast Michael McCauley has alerted his almost 540 thousand followers on TikTok to keep an eye out for “rotated” 2001 federation $1 coins, where the front design is rotated from the back design.

He said he estimated the special coins were each worth between $26 and $75.

Mr McCauley advised his followers that to check whether they had one of the special rotated coins, they should begin by holding the coin upright on the tails side.

“When I flip it around, the Queen is supposed to pointing to 3 o’clock …” he said.

“But if she’s pointing in a different direction, then it is worth those values.”

Mr McCauley said he had previously found one $1 coin where the Queen was pointing up to about 1 o’clock on the coin.

“You can get them on these coins where she’s pointing in all sorts of directions so it’s worth checking those,” he said.

“I’ve only found one to date, but I love searching for them, because who knows, I might find another.”

27.9 million of the 2001 $1 coins commemorating the centenary of Federation were made, according to the Royal Australian Mint.

The coin was sculpted by Wojciech Pietranik.

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