Rare coins could be worth hundreds of times more than their face value, as one person found out when they sold a 20p coin for more than £230 on eBay.
Some coins are made with minting errors which make them not only rare, but also extremely valuable to the right collector.
One 20p coin, minted back in 1983, was made on a copper-coloured blank my mistake, creating a rare bronze 20p.
These coins are much sought after by collectors and are far more valuable than their 20p face value.
One such coin sold on eBay this week for £232, more than 1,000 times its face value, after inspiring a mini bidding war and inspiring 28 bids.
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.
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.
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.
Top 10 most valuable 50p coins, according to Royal Mint
Here is a list of the top 10 most valuable coins, when they were made and how many were minted:
- Kew Gardens (2009), 210,000
- Olympic Wrestling (2011), 1,129,500
- Olympic Football (2011), 1,161,500
- Olympic Judo (2011), 1,161,500
- Olympic Triathlon (2011), 1,163,500
- Peter Rabbit (2018), 1,400,000
- Flopsy Bunny (2018), 1,400,000
- Olympic Tennis (2011), 1,454,000
- Olympic Goalball (2011), 1,615,500
- Olympic Shooting (2011), 1,656,500
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