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Check your wallet: The $5 note that could be worth more than $1000

Check your wallet: The $5 note that could be worth more than $1000

Read Time:2 Minute, 17 Second

A $5 note in your wallet could be worth far more than its face value, with a rare fiver currently on sale for $1200.

The note was released by the Reserve Bank of Australia on April 24 in 1995 as a new, brightly coloured version.

Featuring the late Queen Elizabeth II’s effigy, the note was designed by Bruce Stewart.

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The note also features the signatures of Reserve Bank Governor Bernard Fraser, who held the role until 1996, and Secretary of the Department of the Treasury Edward Evans, who held the role until 2001.

This note has an “interesting story”, respected numismatist Joel Kandiah told 7NEWS.com.au.

The Perth coin and banknote expert — who uses the handle @TheHistoryOfMoney — has built a huge following on TikTok and Instagram with his insights on the value of various coins and banknotes.

A rare $5 note, released by the Reserve Bank of Australia on April 24 in 1995 is currently on sale for $1200. Credit: Wynyard Coins

The previous note was released in 1992 and featured pale orange and blue, Kandiah said.

It was hard for people to differentiate that colourway against the blue $10 notes, so they recoloured it, he said.

“(But) when they made the first batch, they damaged the engraving plate,” he said.

An additional seven engraving plates were then made, creating a new run of notes.

This run of notes features the “HC95” first serial prefix, and the rare $5 note is currently on sale in an uncirculated condition at Wynyard Coins for $1200.

The catalogue value of the notes is about $1750, but notes generally sell for less than their catalogue value, Kandiah said.

Notes with a narrow band (top) are considered rare. Credit: Supplied

Notes made using the new plates feature narrow orientation bands, which is what makes them so rare.

The series starts with the “HC95” first serial prefix and ends with the “KC95” first serial prefix — and the “KC95” notes are worth more than the notes currently on sale.

The latter notes have a catalogue value of about $3750, but this is for uncirculated notes.

Dedicated banknote collectors want to collect every variety, Kandiah said, but are generally only interested in uncirculated notes.

The value drastically decreases for circulated notes, he said.

For those still hoping to find the rare note, Kandiah said it’s “not impossible but probably unlikely” you can find one of these rare notes in circulation.

Most notes in circulation are from 2016, he said.

“You’re more likely to find it in your parents’ or grandparents’ collection,” Kandiah said.

Check your pockets: Rare $1 coin could be worth $2000

The gold coin that could sell for more than $240,000

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