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Royal Australian Mint drops epic new $2 coloured coin collection - and they’re already worth a fortune

The Royal Australian Mint has released a new $2 coloured coin set that has already nearly tripled in value after “unprecedented demand” from collectors.

Thousands have been filmed queueing up to get their hands on the RAM’s 35th Anniversary of the Two Dollar Coin set, which consists of 14 coloured coins — including the wildly popular $2 Red Poppy.

WATCH VIDEO ABOVE: Wild scenes as thousands queue up for new RAM release

For more Lifestyle related news and videos check out Lifestyle >>

The footage – taken by social media user @coincryptobrad – shows coin collectors lining up for kilometres in the streets outside the Royal Australian Mint in Canberra in the early hours of December 7.

Respected numismatist Joel Kandiah said the Australian coin market has never seen demand like this, and says the $235 set is already being sold on buy and sell sites for as much as $630.

The Perth coin and bank note expert — who uses the handle @TheHistoryOfMoney — has built a huge following on TikTok and Instagram with his insights on the value of various coins and bank notes.

RAM’s 35th Anniversary of the Two Dollar Coin set. Credit: RAM

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He tells 7NEWS.com.au the collection is in high demand due to the popularity of coloured $2 coins.

“This year marks the 35th anniversary of the $2 coin entering circulation. It has been the most innovative of our coins with more than 50 coloured commemoratives been issued into circulation since 2012,” he said.

Two uncirculated $2 coins from 2012 and 2023 which are included in the collection. Credit: Supplied

“The RAM are celebrating this occasion by re-minting some of those unique designs such as the 2012 Red Poppy and the award-winning 2022 Honey Bee coins.

“There have been murmurings of this release for quite a few months since it appeared in the currency determination legislation, but it was only officially revealed last week.”

The set is already being sold for inflated amounts on buy and sell pages. Credit: Supplied

Despite the anticipation, Kandiah said no-one expected the frenzy that has followed.

“No, not at all. This is by far the biggest demand for a RAM product,” he said. “Bigger than last year’s 2022 Red Poppy release.”

He said the popularity has also likely been driven by anticipation that the sets will dramatically spike in value.

“There is a lot of hype because the RAM released a similar 12-coin set in 2018 for the 30th anniversary,” he explains.

“It had a retail price of $75 and the set was not popular until coin collecting took off in 2020. That folder is now worth $800, so people are hoping the same will happen with this new set.”

Thousands queue up outside the Royal Australian Mint for the new release. Credit: coincryptobrad/TikTok

“Within two hours of release, prices have been selling for up to $650 a set! It is early days, so it seems the price possibly will go higher. The question is whether it can actually sustain its level due to its speculation.”

Kandiah said one unique feature has also piqued the interest of collectors.

“It has a mintage of 35,000 and a retail price of $235,” he said.

“What’s unique is that whilst the designs are previous commemoratives, including the red poppy, all coins will be dated 2023 and will have the memorial obverse of the Queen.

“It is very likely that these will be the last $2 coins with the Queen on them!”

Australian coin expert Joel Kandiah. Credit: supplied

How to buy the new RAM set

The Royal Australian Mint has advised that the new 35th Anniversary of the Two Dollar Coin set is only being sold through the following suppliers:

The Royal Australian Mint Call Centre (1300 652 020)The Royal Australian Mint On-site Coin ShopAuthorised Distributors: Australian Coin Distributors | Royal Australian Mint (ramint.gov.au)The Royal Australian Mint is re-releasing the 2012 $2 Red Poppy coin. Credit: thehistoryofmoney/TikTok

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