Rare error 50p coin sells for more than 400 times its face value after bidding war – exact detail to spot in your change | The Sun

A RARE "error" 50p coin has sold for more than 400 times its face value after garnering dozens of bids.

Rare coins and bank notes regularly sell for hundreds and occasionally thousands of pounds because there's a limited amount in circulation.

So it's definitely worth checking your spare change to see if you've got any in your pocket.

Some rare coins have been known to sell for £900 in the past while one rare bank note bagged the owner a whopping £22k in auction.

And one 50p coin recently sold on eBay for over 400 times its face value – a 1980 error piece which is off centre with a chunk missing from the bottom.

It's not clear how many of this specific error coin there are in circulation, but there's usually only a handful of pieces like this.

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The coin received almost 50 bids before selling for the eventual price of £205 on June 18.

It's not the first time an error coin like this has sold for multiple times its face value.

Some can be worth a small fortune because of their unusual design.

The HG Wells error coin has been known to sell for up to £1,000 in the past, while an error 2p piece with incorrect engraving sold for hundreds of pounds too.

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Of course, always bear in mind while the 1980 error coin we found sold for over £200, you might not always get this amount for it, or other error coins like it.

A rare coin or bank note is only worth what someone is willing to pay for it.

How to check if a coin is valuable

A coin is generally considered rare if it has a low mintage figure – the amount that are put into circulation.

You can check how many of a specific coin were put into circulation on The Royal Mint's website.

For example, the Kew Gardens 2009 50p has sold for almost £900 in the past because only 210,000 were minted.

In contrast, something like the Olympic Football 2011 piece, of which 1,125,500 were entered into circulation, has only sold for £18 in the past.

But it's not just a low mintage figure that indicates whether a coin is likely to sell for multiple times its face value.

"Error" coins, like the 1980 50p piece, have been known to sell for hundreds of pounds too.

These come about after manufacturing errors, and in a lot of cases there's only a few of them in circulation.

How to sell a rare coin

Once you've deciphered whether a coin is rare or not, you can sell it in a number of ways, including through Facebook, eBay or in auction.

If you're selling through Facebook, be wary of the risks attached.

There have been instances where fraudsters have contacted sellers saying they want to buy a rare coin and ask for money upfront for a courier to collect it.

But the items were never picked up and sellers have been left out of pocket.

To avoid this happening it's always worth meeting a potential buyer in person when using Facebook Marketplace.

Of course, make sure it's in a public meeting spot that's well-lit.

If you're selling through eBay, you'll have to start by registering for an account – you just have to enter your email address and come up with a password.

Once you've done this you can list a product – but make sure you've got good pictures and detail the condition of the coin to avoid disappointing buyers.

In most cases, the safest way to sell a rare coin will more than likely be at auction.

You can organise doing this via The Royal Mint's Collectors Service, which has a team of experts who can authenticate and value a coin.

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You can get in touch via email and a member of the valuation team will get back to you.

Do bear in mind you will be charged for the service though. How much depends on the size of your collection.

Do you have a money problem that needs sorting? Get in touch by emailing [email protected].

You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.

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