Rare Kew Gardens 50p sells for £230 – do you have one in your wallet?
A RARE Kew Gardens 50p coin has sold on eBay for £230 - 460 times its face value.
Only 210,000 of the commemorative coins were ever released into circulation making them a must-have for collectors.
It's considered to be one of the rarest coins out there because the mintage is so low.
To put it in perspective, the sought after Mrs Tiggy-Winkle 50p from the Beatrix Potter collection was released with a mintage of 8.8million.
Meanwhile, more than 17million of the Samuel Johnson dictionary 50p coins were entered into circulation.
It's topped ChangeChecker's scarcity index for the past few years, as it's still a huge hit among collectors.
What to do if you've got a rare coin
FIRSTLY, you need to make sure the coin is legit and not counterfeit. The Royal Mint is unable to value a coin but it can confirm whether it is real or not.
They will usually supply you with a letter to confirm this. Once you’ve found out whether the coin is real or not, you have a number of options - either selling it through a coin dealer, at auction or on eBay.
If you want to sell the coin you’ve found in your spare change on eBay then you need to know the risks.
Remember to set a minimum price that is higher or at the very least equal to the face value of the coin.
Even if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will cough out.
In its terms and conditions, the auction website states that bidders enter a “legally binding contract to purchase an item”, but there’s no way to enforce this rule in reality.
For more information about what to do if you've found a rare coin, read our guide.
But this particular coin still sold for more than expected - Coin Hunter's eBay valuation tool values it at around £160.
The 50p has been circulated but it's in an "excellent condition" which helps push up the price.
Coins that are in a mint condition are more valuable to collectors who typically part with larger sums of cash to get their hands on them.
It was listed on eBay for £150 and the auction only lasted a day before the sale price reached £230.
Three bidders battled it out to score the highest price, with 11 bids being placed.
Kew Gardens' coins were originally released in 2009 to celebrate 250 years of the Royal Botanical Gardens.
The coin features one of the garden buildings at the UNESCO World Heritage Site; the Chinese Pagoda built in 1761.
The dangers of selling your coins on eBay
THE most valuable coins are usually those that have low mintage numbers or those with an error.
These are often deemed the most valuable by collectors.
Once you’ve found out whether the coin is real or not, you have a number of options - either selling it through a coin dealer, at auction or on eBay.
Sell it at auction
If you’ve got a coin that you would like to sell at auction then you can contact a member of the British Numismatic Trade Association.
They usually deal in very old coins but they may be able to help you assess whether it’s worth selling your coin at auction or whether it would be valuable to a collector.
Sell it on eBay
If you want to sell the coin you’ve found in your spare change on eBay then you need to know the risks.
Remember to set a minimum price that is higher or at the very least equal to the face value of the coin.
Even if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will cough up.
In its terms and conditions, the auction website states that bidders enter a “legally binding contract to purchase an item”, but there’s no way to enforce this rule in reality.
The most eBay can do is add a note to the buyer's account about the unpaid item or remove their ability to bid and buy.
This is because in order to sign up to the website, users do not need to put in valid bank or PayPal details before making a bid.
If a bidder refuses to pay, then the only option for sellers is to give “second chance offers” to other bidders or relist the item.
For items of a high value, eBay recommends that sellers put a limit on their listing to approve bidders.
It means bidders must email you before placing a bid but NOT that they must pay out the cash if they win.
If you find one in your change, you should check the date on it first.
The Royal Mint reissued a batch of the coins in 2019 as part of a collection to celebrate 50 years of the 50p.
Even though they never entered into circulation, the 2019 version fetches up to £74 on eBay.
Before selling your coin you should think about getting it verified by the Royal Mint as it could push up the price even more.
They won't be able to value it for you but they can provide you with a letter to confirm that it is legitimate.
To find out how much it's worth, you can send it off to be valued by an auction house, for example, Chards.
Or you can check to see how much they sell for on eBay by looking at the sold listings to give you a realistic idea of what yours is worth.
Also remember to factor in listing fees before deciding whether to sell the coin.
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We recently reported how a rare "double strike" £1 error coin sold on eBay for £282.
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Other minting mistakes have been found with the coin too - an error during the minting process made one coin look like a "fried egg" and it sold for £112 on eBay.
Fifty pence coins with other designs could actually sell for more online - here's our guide to the most valuable ones that you should look out for.