The brand new $2 coin whose value has skyrocketed to $3,000 since the Queen died

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Leading Australian coin expert Joel Kandiah has revealed the latest $2 coin which has skyrocketed to $3,000 in recent days.

The Perth numismatist – who uses the handle @TheHistoryOfMoney – has built a huge following on TikTok and Instagram with his insights into the value of various coins and banknotes.

Watch above: How coins depicting the Queen have changed during her reign

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Kandiah tells 7NEWS.com.au that there is currently huge demand for the Mars $2 coin, which was included in the 2017 Planetary 10 Coin Collection.

The set originally sold for $170 – but in recent days sets have been priced up to $6,000.

Kandiah says it’s the demand for the March $2 coin that’s driving up the price of the collection.

Coin expert Joel Kandiah says the value of the $2 Mars coin has skyrocketed in recent days. Credit: Provided

“It’s the biggest – it’s the most salable $2 there is and honestly I’ve never seen anything like it,” he told 7NEWS.com.au.

“The market as a whole, I’ve never seen anything like it.

“Demand for this planetary set – primarily because of the Mars $2 coin – has exploded. Until last week they were selling on eBay for $5,000 and $5,5000.

“And the $2 itself is actually half the value of the whole thing.”

Kandiah says the planetary set includes 10 coins – from one cent to $5 – each coin representing a different part of the solar system.

He says demand for the collection started to increase significantly in 2020.

The 2017 10-coin planetary collection is now valued at $6,000. Credit: Provided

“Until the pandemic, you could probably still get a sale for around $300, $400, which is very affordable,” he said.

“But then in 2020 COVID hit and we started to see the interest in coin collecting really start to increase. And everyone was looking for every $2 coin.

“The Mars $2 coin that was part of this set was the one people wanted in their collection.

“People have started buying the complete sets because it’s still relatively affordable. And that started to drive up the demand for that particular coin in a short period of time.

“But the scary thing is that in the middle of last year, the set was only selling for around $1,800 to $2,000.

“Now the sets are valued at $6,000.

“It’s purely because of people’s attraction to the Mars $2 coin. To see its value increase nearly 30 times in five years is beyond ridiculous.”

The collection includes 10 coins – ranging from one cent to $5 – that represent a different part of the solar system. Credit: Provided

The demand for the March $2 coin follows the spike in value of two other $2 coins – the 2012 Red Poppy and the 2013 Purple Coronation – since the Queen’s funeral.

“The demand for the March $2 coin is unprecedented,” he said. “There’s just a lot of hype for $2 coins right now, especially since the queen passed away. It’s really beyond anything I’ve seen.

While the Mars $2 coin is in high demand, Kandiah said it’s unlikely to show up in your wallet.

“They were never meant to be in circulation,” he said.

“Unless someone says ‘I’m going to open a game’ and decides to spend it – that $2 is the same shape and size as a regular $2 coin.

“I mean you’d be surprised to find that when you’re looking for coins, you find something that wasn’t supposed to be in circulation. It’s beyond crazy what you find sometimes.

“Someone who has no interest in collecting coins, he rips it out and puts it back into circulation.

“But that’s a rare thing, I don’t think you’ll find Mars $2 coins in circulation very often.”

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