Ultra-rare pattern and horizontal lines on 50p coin makes it worth a HUGE £700 – are you sitting on a goldmine?

AN ULTRA-rare 50p coin featuring horizontal lines is worth a whopping £700, it can be revealed.

In celebration of the 2012 London Olympic Games, a set of 29 decorative 50p was issued by The Royal Mint.

The coins came into circulation in 2011 and each represented a different Olympic sport.

Boxing being the most notable sport due to its historic significance.

Men have been sparring since the original Olympic Games in Ancient Greece.

Team GB won a total of three gold medals in boxing, one of which belongs to Nicola Adams the first-ever female champion.

One canny coin saver decided to sell their Olympic 50p Boxing Coin for a whopping £700.

The boxing glove coin features a pair of boxing gloves crossed over each other inside a boxing ring with horizontal lines.

As of July, it had one bid.

Plus 85p postage.

It is worth noting that coins are only really worth what someone is willing to pay for them.

You can find out what a coin’s mintage figure is by going on The Royal Mint’s website.

When it comes to the 50p pieces, the football 50p coin is the rarest out of the Olympic set, according to The Royal Mint.

Just 1,125,500 of the coins, showing the popular sport, were minted.

In most cases, a coin is valuable if a low amount were put into circulation – known as its mintage figure.

Generally, the lower a coin’s mintage figure, the more you will be able to sell it for in an auction, on eBay or Facebook Marketplace.

However, the football 50p is not as rare as the Kew Gardens 50p piece, of which there are only 200,000 out there.