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Do you have $4,000 in your pocket? Rare Aussie $1 coin worth THOUSANDS

Australians are being urged to check their loose change because just one coin could earn them thousands of dollars.

Tiny minting errors on ordinary coins are highly sought after by collectors, but many are going unnoticed because people rarely check for them. 

Joel Kandiah, a coin expert, shared his tips and tricks for identifying the rare features on the coins, that could see them fetch thousands.

'Always check your change, because you could find rarest coins.' 

Those include a rare Australian one dollar coin, known as a ‘mule’, being sold at auction for more than $4,000. 

The $1/10c mule coin, created in 2000, is worth much more than its face value, with some being sold for more than $2,700 on eBay, according to coin collectors.

The coin must bear the 2000 date and is thicker than usual with a double rim on the Queen's side of the coin because of a mix-up at the Royal Australian Mint in Canberra.

The Australian $1/10c mule coin (pictured), created in 2000, is worth much more than its face value, with come being sold for more than $2,700 on eBay, according to coin collectors 

Another set of 20cent coins, minted in 1966, are highly sought after by collectors because the number 2 has a wavy baseline.

With ordinary 20c pieces, the number two has a straight base line.

Coin enthusiast Facebook group Detecting Downunder posted a reminder on how to spot the rare coins.

'The way to identify a wavy baseline 20c is it first has to have been minted in 1966,' Detecting Downunder wrote.

'Then look at the bottom section of the number '2' stamped on the side of the coin displaying the platypus.

'On a normal coin, the top and bottom edges of the baseline are straight, while on a wavy baseline coin, the upper edge has a distinctive wave to it.'

A 1966 mint error produced a rare 20c coin resulting in a 'wavy baseline' on the '2' of the coin skyrocketing its value to $2,000

Meanwhile, a bidding war has erupted over last year's $2 commemorative coins honouring Australia's firefighters, as some feature the orange flame design on the wrong side.

The coin features two firefighters standing back to back, with a vividly coloured flame superimposed on the centre of the design.

But a handful of the $2 coins have the fire design on the wrong side, obscuring the Queen's head.

‘Very few of them exist...so depending on quality they can be worth about $6,000,' according to Sydney coin expert David Jobson from Town Hall Collectables.

He urged Australians to keep a close eye on the detail of all their coins as they could end up being very valuable.

A $2 coin commemorating Australia's firefighters, could fetch up to $6,000 after a very rare version of this coin had the red flame printed on the wrong side