United Kingdom

Perth money expert Joel Kandiah reveals how your $2 coin could be worth $200

Australians may be walking around with the country's 'rarest circulating $2 coin' in their wallets that's actually worth $200, a money expert has revealed.

In 2012 Australia issued two commemorative $2 coins for Remembrance Day, one with a red painted poppy and one that was plain gold.

Joel Kandiah, 31, a commerce teacher from Perth, runs The History of Money TikTok account and explained that only 500,000 of the coloured poppy coins were put into circulation.

'A coin without paint can sell for $50, one with paint remaining can sell for $100 and in uncirculated condition it can sell for upwards of $200 depending on the grade,' he said.

'It's extremely hard to find them now in your change let alone in good condition.'

Joel Kandiah, 31, a commerce teacher from Perth, runs The History of Money TikTok account explained that a rare $2 coin from 2012 could be worth $200

Two rare $2 coins were put into circulation in 2012 as part of Remembrance Day. The coloured poppy coin is now worth $200

Speaking to Daily Mail Australia Mr Kandiah explained the coin was first released as a trial by the Royal Australian Mint to introduce coloured change.

'The colour on the coins would wear off easily, so it's hard to find a near perfect specimen in circulation,' he said.

'A lot of the coins were released through the RSLs and a lot of them were super-glued onto cards commemorating Remembrance Day, hence were ruined. 

'Those glued-on coins further reduced the supply of red poppy coins in good condition.'

The expert said since sharing his TikTok a lot of people have told him they had the $200 coin sitting in their house but had no idea it was worth so much.

Mr Kandiah has garnered more than 1million likes online for his videos about rare coins and notes.

Mr Kandiah explained the coins that were kept in mint condition and had the red poppy are worth upwards of $200 while the non-coloured coins are worth around $50

His passion for money started from a young age where he struggled with speech.

'I wouldn't talk much but for some reason I always got excited when I was holding money,' he said.

The 31-year-old said he was taken to a speech pathologist when he was a kid and introduced to a children's cash register toy.

'It was something that made me feel more comfortable to be able to speak and it has pretty much carried on since then. I've been collecting coins and notes solidly since I was six.'

Mr Kandiah earlier posted a video informing Aussies their $50 notes could make them $1,500 richer. 

He said rare and valuable $50 notes will have a Stevens/Parkinson signature combination on one edge.

The Perth-based currency whiz also said the serial number in the top corner has to begin with AA 14 or JC 14 to be worth the large sum.

According to Mr Kandiah, notes with the two features could be worth between $70 and $1500, depending on the condition.

Tik Tok account The History of Money revealed that valuable $50 will have a Stevens/Parkinson signature combination on one edge (pictured)

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