$2 purple coin scheme (GET RICH SLOW)

muncan on 15/05/2014 - 21:59

Crazy idea… hear me out for a minute…

There's 2 million purple $2 coins in circulation (60th Anniversary of the Coronation of Her Majesty Queen Elizabeth II)

They're generally selling for over $7 on eBay

687,700,000 $2 coins have been minted between 1998-2010.

So here's the crazy plan… order something like $2,000 worth of $2 coins from your bank. By my calculation, there's a 0.29% chance that each $2 coin is a purple one using the above numbers. So ordering 1,000 coins might score you with 2.9 purple coins. Drop 0.9 to adjust for the coins minted after 2010 not yet referenced in Wikipedia. Drop another 1 to account for crazy tax. Which leaves you a reasonable chance 1 of your 1,000 coins will be a purple one worth over $7.

$5 profit for only $2,000 outlay! Don't forget to return the reject $2 coins back to your bank so as to not lose out on your daily interest.

See, I told you it was a crazy idea.

:-P

Financial

Comments

  • [Deactivated] on 15/05/2014 - 22:17
    +2

    get rich slow

    My favorite way of getting rich:)

  • silverhawks on 15/05/2014 - 23:35

    thats what i have been doing. even though they have that many in circulation, i have not yet seen one of them from any change that was given to me. i have been purchasing rolls of $2 coins, but all the ones i get after opening them are just the normal $2 plus they are not brand new. well for me i'm not reselling them, i just wanted to collect some. but no luck after opening rolls after rolls.

    • muncan on 15/05/2014 - 23:40
      +1

      Probably need to convert 1,000 coins; don't rely on chump change!
      Or, if you're desperate, buy one on eBay for $7 :-P

      • silverhawks on 16/05/2014 - 00:06

        yeah probally, nah, i'm not that desperate for them, plus don't want ebay sellers to be making 3.5 times the money. they we're giving 5units at mint condition when they first introduced them at $2 each. damn should of bought some then.

  • wukachuka on 15/05/2014 - 23:49
    +1

    Have never even seen one!

  • lisa651 on 16/05/2014 - 00:06

    I work in retail and have come across 4 of them in the past 7 months or so (I sold 2, but the profit made wasn't worth the effort). It's been about a month and a half since I last spotted one. Perhaps everyone had the same idea, and they're all up on eBay being auctioned off instead of being spent…

  • geezerkids on 16/05/2014 - 01:51

    ive had a heap of these come through work, pretty sure i had a whole bag of them in a change order once ($50) didn't realise they were worth that much! only kept a couple for novelty value… god damn!

  • TheG1000 on 16/05/2014 - 02:30

    Are they seriously worth $7 each? I've given out hundreds of the purple ones as change in the last month.

  • kenni_33 on 16/05/2014 - 08:10
    +1

    WOW,I have 2 purple coins stashed away. Came across them with my change, wasn't sure what they were about, but now I know…Thanks

  • Smiley82 on 16/05/2014 - 08:11

    Also never seen one…..I am going to seek them out now! :)

  • bsk on 16/05/2014 - 11:50
    +1

    never seen them, but wonder if they are going to continue to increase in value??

    • muncan on 16/05/2014 - 12:56
      +1

      Not if we flood the eBay market and nobody is buying them.

  • fruit on 16/05/2014 - 14:19

    Commbank has coin counting machines: https://www.commbank.com.au/about-us/news/media-releases/200…

  • airzone on 16/05/2014 - 14:58

    I have one… For sale for 7 million dollars to the right party.

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