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Ultra-rare Olympic 50p coin sells at auction for whopping £1,500 – how to spot one in your change
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AN ultra-rare 50p piece with a unique design across its front has sold for a whopping £1,500.
The error "Lines Over The Face" Aquatics 50p fetched the giant sum in a recent auction.
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The error coin is like plenty of others, such as the Lord Kitchener £2 and 1983 "New Pence", which are so valuable due to them being manufactured incorrectly.
The 50p Lines Over The Face error coin sold for £1,500 in a recent auction run by RWB, based in Wiltshire.
Kimberly Day, coin expert from RWB, said: "Only a few hundred examples with this rare design variation are believed to have been released.
"We're delighted that this coin has raised such a sum, it's a fair price for such a rare coin and we believe it's value will only increase over time."
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The standard Aquatics 50p was issued by the Royal Mint, the official maker of British coins, in 2011.
It was part of a collection released to mark the 2012 London Olympics - with 29 designs representing different sports.
The standard piece features a swimmer's face fully visible, but the error version sees lines appear across the swimmer's face instead.
The error coin is so rare, it can sell for giant sums like in RWB's recent auction - and it's been known to sell for £1,600 in the past too.
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How to spot a rare coin
A coin is usually classed as rare if a limited amount were struck, or a manufacturing error occurred when they were being made.
A low mintage figure, which is set by The Royal Mint, relates to how many of a coin were made.
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Generally, the lower that figure, the more buyers are willing to pay for it, although this isn't always the case.
You can find out what coins are rare and how they look on The Royal Mint's website.
The Change Checker website has scarcity indices too - these tell you how many of a particular coin were minted.
When it comes to error coins, how much you'll get for them varies from piece to piece.
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
For example, the HG Wells £2 error coin has been known to sell for up to £1,000 in the past.
Bronze 20p coins have been known to sell for up to £750 as well while error £1 coins have been known to go for up to £200 before.
How to sell a rare coin
You can sell a rare coin on eBay, Facebook, or in an auction.
If you're selling on Facebook, there are risks attached.
Sellers have previously been targeted by scammers on Facebook saying they want to buy a rare coin and asking for money up front for a courier to pick it up.
But it's a ruse to get money out of you and the courier is never sent.
To avoid this happening, it's always best to meet a Facebook seller in-person when buying or selling anything.
Ensure it's a public meeting spot that's in a well-lit area and if you can, avoid using payment links.
Most sellers prefer to deal with cash directly when meeting to ensure it's legitimate.
The safest way to sell a rare coin is more than likely at auction. You can organise this with The Royal Mint's Collectors Service.
It has a team of experts who can help you authenticate and value your coin.
You can get in touch via email and a member of the valuation team will get back to you.
You will be charged for the service though - the cost varies depending on the size of your collection.
You can also sell rare coins on eBay.
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But take into account that if you manage to sell your item then eBay will charge you 10% of the money you made - this includes postage and packaging.
Always bear in mind when selling any rare coin, you will only get what the seller is willing to pay for it.
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