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Why this rare $1 coin could have you pocketing thousands

Why this rare $1 coin could have you pocketing thousands

One minor mistake to a $1 coin could be worth thousands of dollars.

The Royal Australian Mint made an error when making the “Mule Dollar” coins meaning small amount of $1 coins from the year 2000 were designed using the wrong print.

The Mule dollar has a double rim around the edge while a standard regular $1 coin has just one. 

A Melbourne mum excitedly revealed the fun find on social media.

“We found the famous MULE Dollar” she wrote in a post on Instagram, under the username @melbournewithkidz. 

View this post on Instagram

We found the famous MULE Dollar. 🙌 What's a Mule dollar? It's a small number of the year 2000 $1 dollar coins that had been minted using the incorrect obverse die (heads side) and released into circulation by mistake and only discovered a year or two later. The Royal Australian Mint accidentally minted the coins using the smaller 10 cent obverse die (head side) by mistake. With just a 1.4 millimetre difference in diameter between the 10 cent and $1 coin you can clearly see a double rim circle going around the edges of the coin. These errors are worth anywhere from $500 to $3000! Check your change and empty out the kids piggy bank!!!!!!! You could be sitting on a winner! Let us know if you have found any interesting coins in your change. Disclaimer: for use of images or content please contact us contact@melbournewithkidz.com #australiancoins #coincollecting #rarecoins

A post shared by Tanya / Melbourne With Kids (@melbournewithkidz) on Feb 13, 2020 at 5:20pm PST

“Royal Australian Mint accidentally minted the coins using the smaller 10 cent obverse die (head side) by mistake.”

How to spot a real Mule Dollar

Mule dollars have a unique look and design, including its year make which can only be 2000.

View this post on Instagram

A post shared by Drake Sterling Numismatics (@drakesterling) on Feb 22, 2019 at 3:51am PST

For the rare coin to be legitimate it must also have a clear double rim around most or all of the heads side of the coin, about 0.5mm wide, according to Australian Coins.

“With just a 1.4mm difference in diameter between the 10 cent and $1 coin you can clearly see a double rim circle going around the edges of the coin.”

She said the coins are worth anywhere from $500 to $3000. 

One commenter left a handy tip to anyone who might find themselves in luck with a real mule dollar, and urged people NOT to wash the coin as it can result in its value decreasing dramatically.