How to Spot Rare Errors on One of the Strangest Modern Coins Yet Minted

Introduction

Most collectors overlook the subtle details that can transform a common coin into a rare treasure worth thousands. The 1993 New Zealand two dollar coin is one such piece that at first glance appears to be just another modern commemorative, but upon closer inspection reveals fascinating minting variations, unusual edge designs, and potential error characteristics that make it a treasure hunt for serious numismatists.

Historical Significance

The 1993 New Zealand two dollar coin featuring the Kingfisher stands out as one of the most unusual modern issues. According to Krause, there are two recognized varieties: the KM#87 bronze-coated aluminum regular issue and the KM#87.a silver proof version with a mintage of 10,000 pieces. However, further research suggests additional variations exist, including 40,000 aluminum-bronze pieces in plush boxes and 14,500 in BU year sets.

This coin represents a transitional period in New Zealand numismatics. Prior to 1993, commemorative dollars were issued as large crown or silver-dollar sized coins. With the introduction of a circulating one dollar coin in 1990, the large NCLT dollar went out of fashion. The new circulating aluminum-bronze $1 coin was deemed too small for commemorative purposes, making the new $2 coin a suitable substitute for this quasi-commemorative issue.

The Security Edge Mystery

What makes this coin truly unique is its edge design. Unlike standard reeded edges, this coin features a ribbed edge with a center included stripe containing rivets along it. This “sandwich cookie” appearance has puzzled many collectors. These security edges were originally designed to prevent clipping and deter counterfeiting, as creating fake security edges was considered more difficult than making regular reeded edges.

While these security features are now primarily used for visual distinction on higher-value coins, their presence on this 1993 issue adds significant collectibility. The edge design alone makes this coin stand out from other modern issues.

Identifying Key Markers

Metal Composition and Color Variations

The coin is struck in aluminum-bronze, an alloy containing 92% copper, 6% aluminum, and 2% nickel. This composition creates the distinctive golden color that many collectors find appealing. However, some examples show unusual color variations, with silver-colored breaks through the bronze coating, particularly along high points of the design.

Close examination reveals that the center of these coins often appears whitened on the profile, along Queen Elizabeth’s shoulder, and on the reverse along the rims. This two-tone appearance has led some collectors to initially believe the coins were coated or plated, but they are actually solid alloy throughout.

Die Cracks and Doubling

One of the most intriguing aspects of this coin is the apparent doubling visible around the lettering. While some collectors initially suspected machine doubling, closer inspection of the serifs suggests this might be a true variety. Using a loupe reveals doubling all around the lettering, making this a prime candidate for error coin hunters.

Die cracks may also be present, particularly given the unusual edge design and the complexity of the minting process. These cracks can appear as raised lines or irregular textures on the coin’s surface, adding another layer of collectibility for error enthusiasts.

Mint Mark Variations

While New Zealand coins typically don’t feature traditional mint marks, the variations in packaging and distribution create their own form of mint mark distinction. The differences between coins issued in plush boxes, BU year sets, and regular circulation create collectible varieties that error hunters should note.

Value Guide

The value of these coins varies significantly based on condition, variety, and metal composition:

• Aluminum-bronze regular issues: Generally affordable, often available for $30-50 in decent condition
• Silver proof versions: More valuable, with slabbed PF69 examples selling for around $50
• Complete silver proof sets: Can command prices near $200, though some collectors consider this rich

The true value lies in finding exceptional examples with clear doubling, interesting color variations, or other error characteristics. These varieties can command significant premiums over standard issues.

Authentication Tips

When examining potential specimens, use these authentication guidelines:

1. Check the edge carefully for the distinctive ribbed pattern with center rivets
2. Examine the metal composition – it should be solid aluminum-bronze, not plated
3. Look for doubling using a 10x loupe, focusing on letter serifs
4. Check for unusual color variations, particularly two-tone appearances
5. Verify the Kingfisher design matches known examples

Collecting Strategy

For collectors interested in this series, consider these approaches:

Focus on acquiring multiple examples to compare variations. The aluminum-bronze issues are more affordable and allow collectors to study the different varieties without significant investment. Once familiar with the series, target the silver proofs and error varieties.

Pay special attention to coins with clear doubling or unusual color patterns. These varieties may represent significant finds that could appreciate in value as more collectors discover this series.

Conclusion

The 1993 New Zealand two dollar Kingfisher coin represents one of the most fascinating modern issues for error coin hunters and variety collectors. Its unusual edge design, potential doubling varieties, and interesting metal composition make it a rewarding challenge for those willing to look beyond the surface.

While some collectors dismiss this coin as “practically worthless,” serious numismatists recognize its potential. The combination of low mintage, unusual design elements, and possible error varieties creates a perfect storm for collectible modern coins. Whether you’re interested in the security edge design, the potential doubling varieties, or simply want an unusual piece for your collection, this coin offers something for every collector.

The key to success with this series is careful examination and comparison. Don’t just accept the first example you find – study multiple specimens, use proper magnification, and be prepared to invest time in understanding the nuances of this fascinating issue. The rewards for patient collectors could be significant as the collecting community continues to discover the hidden treasures within this unusual modern coin.

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