Opportunistic sellers cash in on Lest We Forget colour $2 coin

Shrewd sellers who managed to get their hands on the coloured $2 Lest We Forget coin are cleaning up on eBay as demand for the coin sends prices skyrocketing.

Within hours of the coin being unveiled on Sunday April 19 at a special event hosted by the Honorable Kelly O’Dwyer MP at the Stonnington Cricket Oval, listings on eBay began appearing, offering the coin for auction.

Perhaps fuelled by the enthusiasm of collectors and the general public alike to own one of these unique colour commemorative coins with a mintage of only 1.5 million – coupled with the knowledge that the Royal Australian Mint would not be offering an official Uncirculated version of the coin – auction prices for both individual coins and security bags are realising profits of between 1500%-4900% above the face value of the coins themselves. A veritable bonanza for the sellers but an excessive amount to pay for unwary buyers.

2dollarbagThis listing for a security bag of colour $2 coins is at $820 with 3 days to go*

It’s unclear where these eBay sellers acquired their colour $2 coins for sale. Some speculate they work in banks or security firms that delivery currency to banks, while others believe they were just lucky to be amongst the first to find the coins in their change. Either way, they are finding a not-to-be-sniffed-at financial reward by listing them quickly on the online auction site, as impatient buyers clamber to be some of the first to own the new commemorative $2

The 2015 Lest We Forget colour $2 coin was issued to commemorate the 100th anniversary of the Gallipoli landing. It is the 4th coin of colour to be issued into circulation after the 2012 $2 Red Poppy, the 2013 $2 Purple Coronation and the 2014 $2 Green Remembrance Day coins. The 2012 Red Poppy coin was distributed to the public through the RSL, while the other coins entered circulation via the Reserve Bank of Australia.

2dollarindThis coin sold for 4900% above its original face value

As more of these coins make it onto the secondary market the prices being reached on eBay will undoubtedly fall, so if you’re looking for a more reasonably priced colour $2 we recommend being patient. eBay listings for the 2013 and 2014 colour $2 coins are still plentiful, 1-2 years after the coins were originally released, so there is no doubt the 2015 Lest We Forget coin will be popping up on eBay for years to come also.

Downies are currently looking to source these coins to offer as well, and if we are successful we will notify customers through our online newsletter, as well as our Facebook and Twitter pages.

Otherwise, keep a close eye on your coinage because you never know when you might find one of these coin in your change. If you do find one feel free to post a photo of it here or on our Facebook page.

*prices listed at time of writing this article

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11 thoughts on “Opportunistic sellers cash in on Lest We Forget colour $2 coin

  1. ROYAL AUSTRALIAN MINT were playing games Sydney and queensland gets there share but Melbourne don’t in conjuction with these Shrewd sellers the mint created these CREATURES if they going to distribute the coin why they cant just let it distributed then banks and security coin logistics also HIDE them

    ROYAL AUSTRALIAN MINT can diecast more of those until 31 december 2015 the 1.5 million can only be an estimate

  2. its been confirmed Melbourne in Victoria did not get the share of distributing this coin which is unfare to every one pretty sure who ever this creature will see them at ANDA show 22-23 august 2015 and let them spill there messy doing including ROYAL AUSTRALIAN MINT

    • Hi Richie, Just letting you know we’ve had several people contact us recently who have found the red Lest We Forget coins in their change here in Melbourne, so keep your eyes peeled!

  3. I have a red poppy 2015 which I think must be a “misprint/defect” as the red runs off the circle track that Its supposed to sit???? Does this make it anymore special than the rest? 🙂

    • Hi Rachel, sorry for the slow reply. We have come across many of the red poppy coins with misprinting of the red, so it’s unlikely your coin is any sort of “error” coin, however due to these coins having such a low mintage they are all very special.

    • Hi Paige. The coins are not particularly rare, with 1.9 million 2014 $2 Remembrance Day (Green) coins struck and 1.5 million 2015 $2 Lest We Forget (Red) coins struck. To get an idea of what the coins would fetch on the secondary market we recommend doing a search for Completed Listings on eBay. Please be aware that if your coins have any circulation wear and tear on them (scratches and the like) it will lessen their value. We are unable to provide investment advice so we can not say whether these coins will appreciate in value in the future, and if so by how much.

  4. Hi I got a red commerate coin today and a little bit of red is missing off the circle. Just wondering if this is worth more in value as it may be a misprint. Thanks Paula

    • Hello Paula, Due to the difficulties associated in printing these coins many of them had imperfections such as the one you describe. As the coins are so new, the only real value outside of their nominal face value, is what someone on eBay would be willing to pay 🙂

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