Finding One of the strangest modern coins yet minted in the Wild: A Cherry Picker’s Guide

Introduction: The Hunt Begins

You don’t always need a dealer to find this. Here is what to look for when searching through circulation or bulk lots.

As a dedicated roll hunter, I’ve spent countless hours searching through bank rolls, estate sales, and bulk coin lots looking for that special find. One of the most unusual modern coins I’ve encountered is the 1993 New Zealand two-dollar coin featuring the Kingfisher – a coin that’s earned its reputation as “one of the strangest modern coins yet minted.”

Historical Significance

The 1993 New Zealand two-dollar coin represents an interesting chapter in modern numismatics. According to Krause catalogs, there are two main varieties: the KM#87 bronze-coated aluminum regular issue and the KM#87.a silver proof version. The silver proofs had a mintage of 10,000 pieces, with additional numbers reportedly struck for special packaging – 40,000 in plush boxes and 14,500 in BU year sets.

This coin was part of New Zealand’s tradition of celebrating their unique native bird species. Prior to 1993, commemorative dollar coins featured various birds, but with the introduction of a circulating one-dollar coin in 1990, the focus shifted to the two-dollar denomination for these special issues.

Identifying Key Markers

What makes this coin particularly interesting for cherry pickers is its distinctive edge design. The coin features a ribbed edge with a center stripe that includes rivets – giving it the appearance of a “sandwich cookie.” This security edge was designed to prevent clipping and deter counterfeiting, though today it serves primarily to make the coin visually distinctive.

The alloy composition is aluminum-bronze (92% copper, 6% aluminum, 2% nickel), not bronze-coated aluminum as sometimes misunderstood. This solid alloy composition throughout the coin (unlike plated coins such as Canadian loonies) creates the characteristic golden color.

When searching through bulk lots, look for these key identifiers:

• Obverse: Queen Elizabeth II portrait
• Reverse: Kingfisher bird design
• Edge: Distinctive ribbed center stripe with rivets
• Composition: Golden aluminum-bronze alloy

The Cherry Picker’s Edge: Varieties and Errors

Beyond the standard varieties, this coin has several features that make it attractive for cherry pickers:

Color Variations: Some examples show uneven coloring with silver-colored breaks through the bronze coating, particularly along high points of the design. This isn’t wear but rather oxidation patterns that create interesting two-tone effects.

Potential Doubling: Several examples show what appears to be doubling around the lettering. While initially suspected to be machine doubling, closer examination of the serifs suggests it might be a true variety worth investigating further.

Thickness Variations: There are reports of thick variety specimens that could represent minting errors or different striking processes.

Value Guide and Market Analysis

While the coin is described as “practically worthless” in circulated condition, several factors affect its value for collectors:

The coin is practically worthless. Let it go.

However, for dedicated collectors and cherry pickers, value extends beyond mere monetary worth:

• Regular aluminum-bronze issues: Generally trade for face value to a few dollars in circulated condition
• Silver proof versions: Can command $30-50+ depending on grade and certification
• High-grade specimens: Particularly those with interesting color patterns or potential varieties
• Complete sets: Silver proof sets can reach $150-200+

Where to Find Them

For roll hunters and cherry pickers, these coins can be found in several places:

Circulation: While rare, they occasionally appear in mixed foreign coin lots or bank rolls containing older foreign currency.

Estate Sales: Often found in collections of world coins, particularly those assembled in the 1990s.

Online Marketplaces: Available on eBay and specialized coin sites, though prices vary significantly.

Bulk Lots: Foreign coin mixtures from dealers often contain these coins at below market prices.

Authentication Tips

When examining potential specimens, verify these key points:

1. Check the edge for the distinctive ribbed center stripe with rivets
2. Verify the aluminum-bronze composition (golden color, not plated)
3. Examine for potential doubling using magnification
4. Look for color variations that might indicate special striking characteristics
5. Compare thickness if investigating the thick variety reports

Conclusion: The Collector’s Perspective

While some collectors dismiss this coin as “ugly” or “crude,” its unusual design and relative scarcity make it an interesting addition to specialized collections. The security edge, potential varieties, and the story behind its creation all contribute to its appeal for dedicated numismatists.

For roll hunters and cherry pickers, the 1993 New Zealand two-dollar Kingfisher coin represents the kind of unexpected find that makes the hobby exciting. Whether you’re searching through bulk lots at estate sales or carefully examining foreign coins from bank rolls, this distinctive piece could be hiding in plain sight, waiting for an observant collector to recognize its unique characteristics.

The key is knowing what to look for – and now you do. Happy hunting!

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