40 years old: Mackay’s John Platts iconic stamps and coin shop

John Platt started collecting stamps and coins as a child sneaking torn stamps from his father's ashtray. Today, almost 40 years after a business venture, he claims to have never ‘worked’ a day in his life.

John started his shop 40 years ago on Sydney St, 10 years later he was joined by his wife Kathy. Photo: Fergus Gregg

Near the intersection of Macalister and Victoria streets, across the road from the Deli Nook cafe, is a store with a story.

It began more than 40 years ago, when a young man started to collect torn stamps out of his father’s ashtray, until his father finally bought him an album.

Later, while collecting milk bottles he began collecting coins and, by 15, decided to open a stamp and coins shop on Sydney St.

John Platts Stamps and Coins have been a Mackay fixture for 40 years now, starting in the 80s on Sydney St and continuing to this day on Macalister St. Photo: Fergus Gregg

40 years later, while the location may have shifted, the business remains and the boy has grown into a man, John Platt.

“It’s just a hobby that got out of hand,” John said with a smile.

“I’ve never worked a day in my life.”

John’s first collection of coins and stamps sold out within his first week, since then he’s come to possess an impressive inventory of prized currency.

Without a doubt John’s most treasured coin is one of Australia’s first minted coins, a holey coin.

The holey coins were first made during a currency crisis in the young colony of New South Wales in 1788 using imported Spanish coins.

The coins were given to a convict, who had previously been a forger, who punched out the middle to create a large coin with a hole in it’s centre, which had the brand of New South Wales printed around the edge and the value of five shillings assigned to it.

John's prized coin, worth $150k, is one of the first coins minted in Australia. Photo: Fergus Gregg

When John bought it in 1988 the coin was worth $1,500, today it has a value of more than $150,000.

However, the 80s were also a tumultuous time for the Platts, as they tried to buy their first house during an economic downturn.

“We bought a house and we couldn’t afford to pay it off,” John said.

“We scrimped and saved and borrowed at interest rates of 15 per cent.”

John also invests some of his money into silver and gold, which he also sells at his shop. Photo: Fergus Gregg

Today, John Platts Stamps and Coins is going through a bit of a purple patch as, unlike other businesses, they experienced a boom during the Covid-19 epidemic and lockdowns.

“Everybody stayed home and sorted their collections out,” John said.
“We’re up 500 per cent since.”

Also adding to their fortunes has been the recent change of monarchs as with Australian currency soon to bear the visage of King Charles III, Elizabeth II coins are in demand.

“I enjoy doing it,” John said with a toothy grin.

“It’s not a business to me, it’s a hobby. So really, it’s been fantastic.”

Originally published as 40 years old: Mackay’s John Platts iconic stamps and coin shop