CASHING IN
Rare 50p coin sells for more than 300 times its face value – do you have one in your pocket?
CHECK your pockets for a rare 50p coin which sells for more than 300 times its value.
The 50p Kew Gardens coin features the Chinese Pagoda at the famous London landmark.
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It makes it into the top three of the rarest coins out there as there are so few of them.
Just 210,000 were released into circulation in 2009.
It's also one of the most valuable due to its recognisable design and low mintage.
On average, it sells for as much as £280 online.
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The coin is no stranger to even higher bids though, as at The Sun previously spotted the Kew Gardens 50p selling for as much as £580.
And one eBay bidder paid £895 for an authentic copy of the Kew Gardens 50p.
How to sell rare and valuable coins
There are two main ways you can sell rare coins - through eBay or at auction.
If you want to sell the coin you’ve found in your spare change on eBay then you need to know the risks.
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Remember to set a minimum price that is higher or at the very least equal to the face value of the coin.
Even if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will cough out.
In its terms and conditions, the auction website states that bidders enter a “legally binding contract to purchase an item”, but there’s no way to enforce this rule in reality.
The most eBay can do is add a note to their account of the unpaid item or remove their ability to bid and buy.
This is because in order to sign up to the website users do not need to put in valid bank or PayPal details before making a bid.
If a bidder refuses to pay, then the only option for sellers is to give “second chance offers” to other bidders or re-list the item.
For items of a high value eBay recommends that sellers put a limit on their listing to approve bidders.
It means bidders must email you before placing a bid but not that they must pay out the cash if they win.
If you’ve got a coin that you would like to sell at auction then you can contact a member of the British Numismatic Trade Association.
They usually deal in very old coins but they may be able to help you assess whether it’s worth selling your coin at auction or whether it would be valuable to collector.
They'll usually charge you a fee for the service or take a percentage of the sale money.
You’ll often have to visit them in person with the coin in order for them to assess it.
Helpfully you can sort the members according the county where they are based.
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Another rare 50p coin is worth up to 140 times its face value – have you got one in your pocket?
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