Look out for 50p ‘with 9-year-old’s scribbles’ on it as coin sells for HUGE fee – is there a goldmine in your change?
CHECK your pockets for a rare 50p coin which sells for nearly 300 times its value.
A rare 50p coin sparked a bidding war on eBay before it finally sold for £133.
The coin was designed by 9-year-old Florence Jackson, whose image of an athlete clearing the high jump bar during the London 2012 Summer Olympics was picked from more than 17,000 entries.
More than 20,000 coins were then minted, but never officially put into circulation.
The coin was originally worth £1.09, but they are now worth considerably more.
One recently listed on eBay sparked a 38-way bidding war, the ECHO reported.
The 50p piece had a £20 starting price but the winner nabbed the coin for an eye-popping £133.26.
Anyone who finds one of these coins is urged to check the year on it.
It was first released in 2009 but a second edition was minted in 2011.
How to sell rare and valuable coins
There are two main ways you can sell rare coins – through eBay or at auction.
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.
The most eBay can do is add a note to their account of 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 re-list 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’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 collector.
They’ll usually charge you a fee for the service or take a percentage of the sale money.
You’ll often have to visit them in person with the coin in order for them to assess it.
Helpfully you can sort the members according the county where they are based.
