eBay has become a popular spot for coin collectors and enthusiasts to find unique pieces. The auction site lists hundreds of supposedly “rare” coins on a daily basis. One such piece is this Benjamin Bunny 50p coin, which was was recently posted on the site for a whopping £2,600. Branded “rare” by it’s current owner, the seller – “limccl_8550” – suggested a starting price of £2,600. On top of the high selling price, the current owner has asked that the new buyer pay a £1.50 standard delivery free. So at over 5000 times its face value, is this coin as rare as the seller claims?
The coin on offer is from the 2017 batch of Beatrix Potter commemorative coins.
These were first released in 2016 to mark the 150th anniversary of the author’s birth and they proved so popular new ones have been brought out each year since.
According to experts at the coin publication Spend It? Save It? What Should You Do? the coin has a mintage of 11,300,000.
Not only does it appear to be fairly common, the publication gave it a valuation of £4 – a far cry from the asking price online.
The coin website, Change Checker, insisted the coin was even more common and gave it a mintage of 25,000,000.
The fifty pence is ranked as one on the Scarcity Index, which classifies it as common.
On top of this, the coin can be bought on the Westminster Collection website for just £3.99.
Why has the seller priced it so highly?
The publication explained that sellers are within their right to sell coins at whatever price they choose, which could explain why some coins are listed for as high as £9,000.
Astonishingly, the experts found that high price tags can make more affordable listings seem much more appealing.
And more often than not, the coins aren’t even worth that, so the buyer still ends up paying more than it is worth.
Nevertheless, they warned buyers to beware, saying: “So remember – just because a coin is listed at a certain price that doesn’t mean it is worth it and just because something seems to have sold for a certain amount that doesn’t mean it actually did.”
Despite asking for a lot of money, the seller admitted they did not know much about the coin.
They wrote on the advert: “I’m not going to lie and make out I know much about coins but I do know these coins are mintage and this coin in particular as it’s 2017.
“I have kept it in a very good condition and as you can see it’s really shiny and well looked after.”
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