eBay has become quite the place for coin collectors to look for ‘rare’ coins, with the bidding site listing hundreds of supposedly unique pieces on a daily basis. One such piece is this 2017 Peter Rabbit 50p coin, which was recently posted on the site for a whopping £3,000. Described as ‘rare’, the piece was uploaded by eBay seller “lyno-93” – who has been a member on the site since 2007, and has a 100 per cent positive feedback rate. The seller has started the bidding price at £3,000 and will offer the new buyer free delivery.They also admitted the coin is circulated – something that decreases the value. So is this coin really worth £3,000, which is 6,000 times its face value?
The Tale of Peter Rabbit coin was issued by the Royal Mint in 2017 with a mintage of 19,300,000 – giving it a scarcity index of ‘common’.
For £10, collectors were able to purchase an uncirculated version of the coin from the Royal Mint, but the coins have now sold out.
Designer Emma Noble created the image which features on the obverse design of the coin, showing the iconic character in the centre.
The words “The Tale of Peter Rabbit” are also etched around the image.
Peter Rabbit was the first coin in the Beatrix Potter 2017 collection, and it has since been joined by 50p coins representing Mr Jeremy Fisher, Tom Kitten, and Benjamin Bunny.
It may be interesting to a lot of people, as it was part of the second batch of Beatrix Potter 50p coins to be put into circulation.
However, a quick search online reveals the coin has a mintage of 19,300,000 and is ranked as one on the scarcity index.
In the publication Spend It? Save It? What should you do?, coin experts explain Tale of Peter Rabbit 50p is actually worth around £4.
The writers also advised customers to beware when bidding for rare coins online, as sellers are well within their rights to price their items at whatever price they choose.
Astonishingly, the experts found that high price tags can make more affordable listings seem much more appealing.
More often than not, the coins aren’t even worth that, so the buyer still ends up paying more than it is worth.
The publication warned buyers to be aware, saying: “So remember – just because a coin is listed at a certain price that doesn’t mean it is worth it and just because something seems to have sold for a certain amount that doesn’t mean it actually did.”
Another Peter Rabbit coin was recently listed on the site for a staggering £8,999.
Despite the high asking price, like this one, the coin is also circulated.