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The rare 5-cent, 20-cent and $1 coins that could get you thousands of dollars

Australians are fast moving to cashless currency, but those still using coins have the added advantage of potentially hitting the jackpot with their spare change. 

While some may be hard to spot, coins with small minting mistakes - known as 'mules' by collectors - can easily fetch thousands of dollars. 

A rare $1 Australian coin with a minting error was recently put up for auction for $4,000 with other even-rarer 'mules' being worth tens of thousands. 

While the mistake on the $1 coin might be missed at first glance, the error is obvious when pointed out - the head side was stamped with a 10c piece mold resulting in a double-edge 

Mr Jobson (pictured), who runs a Sydney coin and collectables store, also has a 'mule' 5c piece which was struck in 2007 with the Queen's likeness on both sides instead of the echidna 

While the mistake on the $1 coin might be missed at first glance, the error is obvious when pointed out - the heads side was stamped with a 10c piece mold resulting in a double-edge. 

The Australian Coin Collecting Blog estimates there would be about 6,000 of these coins in circulation, with the majority ending up in Perth. 

People from across the globe try to outbid each other in an effort to add the item to their collections which drives the price up.  

'Value depends on the quality - so if they are really high quality, then they're going to be very valuable and worth $4,000 or $5,000,' coin expert David Jobson told The Morning Show. 

Mr Jobson, who runs a Sydney coin and collectables store, also has a 'mule' 5c piece which was struck in 2007 with the Queen's likeness on both sides instead of the iconic echidna. 

'It's quite a striking error, they're a lot easier to notice in your change. Value-wise, it starts off at about $1,000 - and it goes up to about $4,000 for really nice ones.' he said. 

Mr Jobson also recently sold a 20c piece with another standout error that resulted in the edges being shaped in a 'scalloped' pattern. 

A 5c piece that has been struck twice resulting in an overlapping imprint of the echidna on one side and the Queen on the other has an even bigger $55,000 price tag on eBay 

Mr Jobson also recently sold a 20c piece with another standout error that resulted in the edges being shaped in a 'scalloped' pattern (pictured) 

He explains in 1981 the Royal Mint in London produced the 20c coins and also the Hong Kong $2 coins - with an employee mixed up the two molds resulting in the hybrid item. 

'It's very valuable. There are less than 10 that are known to exist, and they value anywhere between $15,000 and $20,000.' he said. 

A 2001 10c coin printed on a bi-metallic silver and gold coloured base can fetch up to $32,000. 

A 5c piece that has been struck twice resulting in an overlapping imprint of the echidna on one side and the Queen on the other has an even bigger $55,000 price tag.  

Mr Jobson warned, however, that anyone who is looking to purchase rare coins should have their authenticity independently verified by a third party and make sure the seller is reputable. 

He also said that not all these rare mistake coins had been snapped up by collectors with many still able to be found in circulation such as the $1 and 5c pieces which were brought into his store after someone found them in their pockets. 

He advised anybody who thinks they have found one of the mistake coins to take a quick picture and email a coin dealer who will be able to verify the item. 

A 2001 10c coin printed on a bi-metallic silver and gold coloured base can fetch up to $32,000 

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