Published On: Tue, May 14th, 2019

eBay: ‘Very rare’ 50p Olympic weightlifting coin on sale for £1250

Commemorative coins are of great interest to many people and some collectors might head to eBay to try and grab themselves a cheap deal.  Among all the affordable bargains some coins are put up for sale at a highly marked up price.  Recently, eBay user “natalia17071” put an Olympic weightlifting coin on sale for £1250.  The coin was also described as “very rare”, so was the high asking price actually a bargain?

The eBay user uploaded the Olympic coin along with two photos of the fifty pence piece.

They described it as a “very rare 50p olympic coin weightlifting 2011.”

On top of the huge asking price, any potential buyer would also have to part with £1.77 which will get them standard delivery.

Commemorative coins can be of value, but it seems that potential bidders should think twice before making an offer on this coin.

The coin was part of the Olympic collection released in 2011 and was designed by Rob Shakespeare, a police officer and past weightlifter.

According to the coin website Change Checker, the Olympic 50p has a mintage of 1,879,500.

Although it is not described as rare, the website also states the coin is classed as “less common” as it ranks 27 on the Scarcity Index.

However, the coin was also selling for just £7.50 on the Westminster Collection, although it is no longer available to buy.

Experts at the coin magazine Spend It? Save It? What Should You Do? have given the coin a similar mintage of 1,879,000.

They also gave the coin the valuation of just £2, which is a far cry from the asking price on eBay.

By shopping around, coin collectors could grab this Olympic 50p coin for much less.

Checking with a coin expert is also recommended before parting with so much money.

Fifty pence pieces are often put up for sale for much more than face value.

One Peter Rabbit 50p coin recently sold for £519, despite having a value of just £4

Another Peter Rabbit 50p coin also appeared online for £890 even though it had a much smaller value. 

Source link