This ‘rare’ coin is being listed for $10,000 — but it’s worth just $1

Australians are being warned of a false advertising scheme attempting to pass off a special edition coin as a “rare” collector’s item — and it’s keeping the dollars from their charitable mission.

Australians are being warned of a false advertising scheme attempting to pass off a special edition coin as a “rare” collector’s item.

The scam, which has been reported to the ACCC, involves the advertising of a coin to mark the Queen’s Platinum Jubilee for $10,000 — despite the coin being worth just $1.

The advertising claims the coin is “incredibly rare” and is being sold to raise money for charity.

But the ACCC says the coin is actually part of a series of legal tender coins released by the Royal Australian Mint to mark the occasion.

The coins are available from the mint for $1 each, and the ACCC says any claims that the coins are worth more than this are false.

“The coins are not rare and are being sold by the Royal Australian Mint for $1 each,” an ACCC spokesman said.

“Any advertising that claims the coins are worth more than $1 is likely to be false or misleading.”

The ACCC says it is concerned that the scam is preventing money from reaching its intended charitable destination.

“The advertising claims the coins are being sold to raise money for charity,” the spokesman said.

“But if people are paying $10,000 for a coin that is only worth $1, then the vast majority of that money is not going to charity.”

The ACCC is urging Australians to be wary of any advertising that makes claims about the rarity or value of coins.

“If you are unsure about the value of a coin, then you should get it independently valued before making a purchase,” the spokesman said.