Queensland’s teenage coin collectors slammed on TikTok

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There has been backlash over the way young people try to make money, saying it’s a waste of time and only impacts others.

Some Australians are annoyed with the way young people are trying to earn money, saying it’s a waste of time and could see the service shut down for everyone.

A group of teenagers have taken to TikTok to share the inventive ways they’re trying to rake in dough by exchanging bills for coins at ATMs.

They then sift through gold and silver coins in hopes of spotting rare and valuable ones, a practice known as coin or noodle collecting.

Queensland-based coin enthusiast from the Gold Coast, using handle @goldcoastpicker, filmed himself using $100 notes worth $1100 and flipping them in rolls of coins gold.

So many rolls came out, in fact, that he and his friends had to use a trash bag to lug their fortune around.

They then showed themselves sorting the rooms.

“Zero risk investment,” they captioned the video.

But instead of being praised for their ingenuity, the boys were lambasted online.

“All you do is waste your time and piss people off,” one woman commented.

“For almost two months last Christmas our local machines were out of gold coins, it was ridiculous, beyond a joke,” another said.

Others said it could mess up ATMs for everyone.

“That’s not what these machines are for and if you keep doing it they will shut them down or make them just for business,” another TikTok commenter said.

And yet another reviewer told the teenage boys in the video to “get a job.”

Another said they were wasting bank tellers time if they ever walked into a bank to ask for coins.

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However, it’s not hard to see why teenagers keep coming back for more coins, because there’s a lot of money to be made in the world of numismatics.

And it is a phenomenon that is sweeping through social networks.

Earlier this year, news.com.au reported on a 20c coin that could fetch up to $4,000 at auction.

A typing error in 1966 left some of the 20c coins with a wavy baseline at the bottom of the ‘2’, which some avid collectors are willing to pay top dollar, between $250 and $4000.

The same goes for a $1 coin, with a technical error by the Australian Mint in Canberra in 2000 resulting in a double rim around the queen’s head.

You can get between $300 and $4,000 for the rare coin, which increases your initial investment up to 4,000 times its initial amount.


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