How one man turned a $1500 investment into $110,000

THIRTY years ago John Platts spent $1500 on a passion, today that passion is worth $110,000.

Mr Platts is a coin and stamp collector and travels to Townsville every month with his rare coins.

The rarest in the collection is the Australian Holey Dollar - the first coin made in Australia.

It went into circulation in Australia in 1813.

The holey dollars were created by stamping the centres out of 40,000 imported Spanish silver eight-real coins, known as "pieces of eight".

There are only 15 left in the world.

Mr Platts said he bought the coin for $1500 when he was about 20-years-old after saving his money from a milk run job.

Since then it's worth at least $110,00 possibly even more - some have sold for $470,000 at auction before.

"It really is my favourite coin," Mr Platts said.

 

Coin and stamp collector John Platts with a Holy Dollar which is worth $110,000 and is one of only fifty in the world. Picture: Zak Simmonds
Coin and stamp collector John Platts with a Holy Dollar which is worth $110,000 and is one of only fifty in the world. Picture: Zak Simmonds

 

Mr Platts owns a business in Mackay - John Platts Stamps & Coins.

"I left school at 15 and decided to turn my hobby into a business," he said.

"I love it, it's a great hobby and it's a fantastic investment."

Mr Platts said there was huge interest in coin collecting and said almost everyone had collected coins during their life - even if it was just putting aside a commemorative $1 coin.

He said rare coins were a worthwhile investment and were growing in popularity for people trying to make money.

"They have risen so much over the last 50 years - there's always money to be made in it," Mr Platts said.

The North Queenslander is the only coin dealer north of Brisbane and is an agent for the Royal Australian Mint. While he travels throughout the month he sells and shows new coins that have gone into circulation.

For people looking to get into coin collecting, Mr Platts said to start small.

"I would say start collecting the five cent pieces as we will lose those shortly," he said.

"Try and get a full set from each year."

"When the Queen goes - and she probably doesn't have much longer - the back of them will change too, so older coins will rise in value."

The coins and Mr Platts will return to Townsville on October 3. He will be at 48 Ingham Service Rd at Order of Eastern Star Hall.



Heartbreaking photos of wallaby stuck in mud

premium_icon Heartbreaking photos of wallaby stuck in mud

Firefighters, RSPCA called to building site

Big change to recycling and goodbye to single-use plastic

Big change to recycling and goodbye to single-use plastic

New label launches to clear up recycling confusion

The ones that didn't get away

The ones that didn't get away

Thank you to everyone who sent in pics of their latest fishing trips

Local Partners