A 50p piece has been traded for a staggering £63,100 and it’s left experts stunned because it’s not even a limited edition.
The coin, which was released in 2016 to mark 950 years since the Battle of Hastings, was listed on eBay on June 15 and has since traded for 126,000 times its face value.
There are a further 6.7 million in circulation.
The back of the Battle of Hastings 50p coin was created by designer John Bergdahl four years ago featuring an illustration of King Harold taken from the Bayeux Tapestry, reports MirrorOnline.
Its value has risen in the last two years when it was considered the 25th-rarest 50p currently in circulation. It currently ranks second place on ChangeChecker’s scarcity index scale, alongside Paddington Bear at the Station and Roger Bannister 50p coins
The Kew Gardens coin is still the rarest with just 210,000 in circulation.
Why is it so rare?
The 50p coin, which the seller admits has been in circulation for several years, was listed with an opening price of £1,500, which quickly rose to £61,100 in 10 days.
“*VERY RARE AND CIRCULATED* Collectable 2016 Battle of Hastings 1066 50p Coin,” the listing explained.
A total of 41 bids were received.
Experts say its sudden rise in popularity could be attributed to people using less cash due to the pandemic, but the reasons for its rocketing price remain a mystery with some still listed at £2.
“Values for coins tend to vary every now and then and it could be that demand for 50ps has gone up because we’re seeing less change used right now because of coronavirus,” explained Alexandra Fiddons at coin expert ChangeChecker.
Editions to celebrate historical anniversaries tend to do better amongst collectors – and this one sparked a clear pricing war.
Alexandra says it’s not unusual for a coin to suddenly soar in value, though this is usually quite rare.
“We often have random coins that we don’t expect to take off that much that sometimes they just skyrocket. That could be the explanation here,” she said.
“What we do know is that this isn’t the most sought after 50p in circulation. These are the Kew Gardens or Jemima Puddleduck editions.
“If you have one and are looking to list it, contrary to this listing, uncirculated coins tend to sell better statistically.”
If you think you have a valuable coin, the best thing to do is ask the Royal Mint to check that it’s genuine.
While it won’t be able to tell you how valuable it is, it can provide you with a letter to confirm its authenticity.