Parents often employ piggy banks as a way to teach their children how to save money. That practice is paying off for one Melbourne mum. While helping her daughter count the coins in her piggy bank, the mum discovered a Mule dollar that is worth thousands.
“What’s a Mule dollar?” the mum wrote in her Facebook post chronicling the discovery. “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 had mixed up the 10 cent die with that of the $1 die. It’s an easy mistake to make, as the two coins are off by just 1.4 millimetres, but it’s enough of a difference that you can clearly see a double rim circle going around the coin.
The mistaken coins are popular among collectors, with examples of the Mule dollars going for anywhere between $700 and $5,000 each. While the temptation for the mum might be to swap out the coin and keep it for herself, in response to posters on her Facebook page posing the question, she confirmed, “Kids have already claimed it!” Now there’s a valuable lesson on saving your coins—one that this mum’s kids are not soon to forget.
According to The Right Note, only 6,000 of the Mule dollars were minted, and the error wasn’t discovered until 2005. Since then, the coin has become one of the rarest and most sought after Australian coins. This discovery might just lead to more parents raiding their children’s piggy banks. One Melbourne mum definitely supports it, counselling, “Check your change and empty out the kids piggy bank! You could be sitting on a winner!”
Photo Credit: Melbourne with Kidz