Rare Aussie Olympic team coin expected to fetch $100k at online auction

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Rare Aussie Olympic team coin expected to fetch $100k at online auction

A rare 1kg gold *********** Olympic team coin is expected to fetch more than $100,000 at an online auction on July 30.

The coin was created by the Royal *********** Mint in 2016 to commemorate the *********** Olympic team that competed in Rio de Janeiro.

The coin is listed with auctioneers Noble Numismatics and one of only five coins from the collection that were minted and put on display until 2023.

Camera IconA rare *********** Olympic coin is expected to fetch about $100,000 at an online auction. Supplied Credit: Supplied

The coins featured sporting icons of Olympic events and captured sports that *********** athletes had found success in. They were struck onto 1kg silver and gold blanks.

The rare 1kg gold coins went on ***** in the lead-up to the Olympics, with the silver retailing at $2016 and the gold at $70,000.

History of Money numismatist Joel Kandiah told 7News that the 1kg gold coin could “be used as legal tender to the value of $3000”.

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==Camera IconHistory of Money numismatist Joel Kandiah told 7News that based on the uniqueness of the coin and its limited mintage, it should sell beyond its bullion value of $1115,000.

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Credit: News Corp Australia

“Based on the uniqueness of the coin and its limited mintage, we should see it sell beyond its bullion value (of $1115,000)” he said.

“Gold coins are sold as bullion investment coins throughout the world, with The Perth Mint and the Royal *********** Mint selling their fair share of bullion.

“The Perth Mint regularly mint and sell 1kg gold coins as part of its bullion program.

“Essentially, it would have been part of a display but now, with the renovations of the museum currently happening and the new museum scheduled to be opened on August 12, it seems there are no plans for the coin in the new museum.”

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