A RARE 20p coin with a highly unusual error has sold on eBay for a whopping 620 times its face value.
The Royal Mint coin carries an error as a result of a weak strike during the minting process.
This makes it extremely valuable for collectors.
It comes after a rare Peter Rabbit 50p coin recently sold on the online market place site for more than 5,000 times its value.
Described as “very nice and interesting” coin, the 20p piece inspired a mini bidding war among collectors, prior to selling for almost £125.
The description of the listing on eBay said: “Striking machines are set so that the dies have a limited travel, this is done to stop the dies crashing into each other in the absence of a coin.
“It’s my understanding that this coin was struck on a badly set machine, or a trial piece used in set up.
“Only the higher raised detail of the dies connected, which make the lower details of the coin. Therefore, lower fields are shiny and well formed, but raised detail is absent.
“These higher unstruck areas show the correct dull and marked finish of a pre struck coin as a result of the polishing process.
“The coin clearly shows the round nature of 20p blanks prior to being struck. A very nice and interesting error coin indeed.”
The coin collected 13 bids, before selling for 622 times its face value for £124.48.
What makes a coin valuable?
The 50 pence piece has become the most valued and collected coin in the UK, with many collectable designs appearing on its heptagonal canvas.
Its 27.5mm diameter makes it the largest of any British coin, and allows space for decorative pictures. It has often been used to celebrate big events over the past 50 years of British history.
What are the most rare and valuable coins?
- Five rarest coins – do you have one?
- The 13 most valuable £2 coins in circulation
- How valuable are the rarest £1 coins?
- Most rare and valuable 50p coins in circulation
- Rare and most valuable 20p coins that could be worth up to £750
- Rarest 10p coins in circulation
- Rare 2p coins revealed
- How to check if you have a rare and valuable banknote
The rarest coins tend to be of the greatest value, with the mintage (number of coins with each design made) being the fundamental attraction for collectors.
Along with the design, other aspects of the coin which increase value are the condition of the coin and whether it has an error in its design, such as the 20p coin above.
The way in which it is sold can also determine the coin’s value – while some coin collectors will bid vast amounts of money on eBay or at auction, others opt for more robust valuations by selling via a coin dealer.
How to sell a rare coin
If you have managed to get your hands on a rare coin, there are a few ways you can go about selling it.
Online platforms such as eBay, Facebook marketplace, or trading apps can be easy to use – but there are risks.
Scammers may try and target sellers with this trick – they’ll say they are keen to purchase the item and ask for money upfront for a courier.
They have no plan on collecting the item and are only using the courier to grab free cash.
When buying or selling on Facebook Marketplace it’s advisable to meet up in person – make sure this is a safe space and avoid payment links.
Many sellers will choose to handle cash when meeting to limit the risk of scams.
To ensure the ultimate safety you can sell rare coins at an auction.
This can be done through The Royal Mint’s Collectors Service which has a team of experts who can help you authenticate and value your coin.
