Unusual drawing on rare coin made it sell for 350 TIMES its value after bidding war – do YOU have one in your change?
A UNIQUE drawing on a rare coin has caused the price to jump 350 times its face value.
The coin clocked some serious bids in auction on eBay after it went up for sale.
The Blue Peter coin is an Olympic-themed coin but was not one of the famed 2012 selection released to celebrate the sporting event.
It was revealed in 2009 and depicts an athlete competing in a high jump.
The engraved figure appears to be doing the The Fosbury flop, a distinct backwards jumping technique, over a high-jump bar.
It was designed by nine-year-old Florence Jackson who won a Blue Peter competition.
The engraving makes it particularly special as it’s the first British coin to ever by designed by a child.
Around 20,000 of these special coins were produced but it was never officially put into circulation.
However many have been used in purchases meaning you might be able to get your hands on one.
They were stocked on the shelves for £1.09 but now are sold for far more than that.
One was even sold for 286 on eBay and another this week went for £186, after 18 bidders offered their prices.
Expert collectors have described it as a “must have for any serious coin collector.”
CHECK IF YOU HAVE A RARE COIN
Rare coins and valuable notes can be worth far more than their face value – sometimes thousands of pounds.
But sometimes it’s just small differences that make them so lucrative.
The most valuable coins are often ones with low mintage numbers or an error.
These qualities typically make them valuable to collectors.
It’s always good to remember a rare coin is only worth as much as someone is willing to pay for it.
It might be that someone needs your coin to complete their collection, in which they may be willing to pay more.
SELLING YOUR RARE COINS
There are lots of different factors to consider when trying to value a coin, including its condition and mintage, so it’s important to do your homework first.
If you’ve got a potentially rare coin that you would like to sell at auction, you can contact The Royal Mint’s Collectors Service.
This organisation has a team of experts who can help you to authenticate and value your coin.
You will need to enquire via email, and a member of the valuation team will contact get back to you.
Take a picture of your coin and attach it to the email – you can find all the details on The Royal Mint’s website.
Be wary that you will be charged for this service though – the cost will vary depending on the size of your collection.
How to spot a fake coin
The Royal Mint has revealed how you can spot a fake coin and here are some possible signs to look out for.
- The date and design on the reverse do not match.
- The lettering on the edge of the coin doesn’t match the year.
- The milled edge is poorly defined.
- The lettering is uneven in depth, spacing or missing letters – or if the face designs are not as sharp or well-defined.
- The coin appears shiny and doesn’t show signs of ageing.
- The coin’s colour is different compared to genuine coins.
- Finally, check the alignment of the front and reverse designs