Posts Tagged ‘Error Coin’
How much is your coin really worth? Debunking eBay coin price myths…
When it comes to coin collecting, whilst the thrill is in the find, it really is the icing on the cake when you manage to find a particularly rare coin which is worth more than its face value. However, all too often we are bombarded by press articles citing eBay listings of ‘rare’ or ‘error’ coins and, naturally, our interest is piqued when we hear about the coin we’ve just come across in our change ‘selling for thousands’.
Unfortunately though, these articles can often sensationalise the actual value of the coin and when taken out of context, it’s easy to forget that anyone can list anything they like on eBay, for whatever price they choose – regardless of whether or not the item is genuinely worth it.
So to help you avoid the pitfalls of buying coins on eBay, we’ve created our top 5 eBay buying tips at the bottom of this blog.
When a coin is listed for excessive amounts it draws attention to itself and all it takes is for the press to pick up on it for more people to start believing that the coin really is valuable and so the story grows. But in reality, these coins are not usually worth the price they are listed for and are very unlikely to actually sell. Even if the coin does sell at that price, there is no guarantee that the sale will actually go through.
How much is my Benjamin Britten 50p worth?
We’ve seen this time and again, particularly for the 2013 Benjamin Britten 50p. In fact one of the most regular questions we get at Change Checker is: “I have a Benjamin Britten 50p – how much is it worth?“.
There’s no doubt that the Benjamin Britten 50p was somewhat overlooked when it was first released and it is amongst the slightly more scarce coins in circulation, but ask yourself this… would you pay £800 for one?
Whilst a brilliant uncirculated quality Benjamin Britten 50p might sell for around £10, you’re likely to come across a circulation quality coin in your change, as this 50p has a mintage figure of 5,300,000 and is ranked as common on our scarcity index.
Read our blog ‘So i thought my coin was worth £800…’ for more information.
But it’s not just Benjamin Britten – there are others… including the 2005 Gunpowder Plot ‘Pemember’ £2 and the 2012 Charles Dickens ‘error coin’, as well as the new coin releases such as the leaked Paddington 50p…
Gunpowder Plot £2 ‘error’
The 2005 Gunpowder Plot £2 commemorates the 400th anniversary of Guy Fawkes’ failed assassination attempt on King James I, but the coin is more familiar to collectors for having a spelling mistake in the edge inscription. The timeless quote “Remember, remember the fifth of November” has been found with various combinations of Pemember, Pemembep, Novemebep and so on. The common factor here is the ‘R’ which appears as a ‘P’.
Sadly for collectors this is apparently not a striking error. The explanation from the Royal Mint is that the down-stroke of the R coincides with the milling around the edge, and as the coin has worn over time, the letter has become less defined. This categorical statement from the Mint means that any mark-up in price for a supposed ‘error’ is completely unjustified, and although it makes the coin more interesting, it is not the mistake which it is often perceived to be.
Charles Dickens £2 ‘error’
The Charles Dickens £2 coin was issued by The Royal Mint in 2012 to commemorate the 200th anniversary of one of Britain’s most famous and beloved writers. The design features Dickens’ recognisable profile crafted from the titles of his most famous works and is a favourite amongst collectors.
But recently, a number of stories have been popping up regarding the ‘errors’ people have noticed, such as fading dots around the centre part, upside down edge lettering and misspelling of the edge inscription. Unfortunately these aren’t errors, but are simply caused by the mass production process, the way obverses and reverses are struck and how the coin has worn down in circulation.
Paddington 50p leaked coins
The Paddington 50p coins were issued by The Royal Mint to celebrate the 60th anniversary of Michael Bond’s novel, “A Bear Called Paddington” and were some of the most sought-after coins of 2018, which is why collectors were particularly excited when some of the coins were discovered a few days before the official release…
The coins quickly made their way onto collectors’ forums and eBay, with one attracting a “sold price” of £16,000 – prompting interest from a number of national newspapers.
It’s highly unlikely that the transaction actually went through, and as the official launch date was just a few days later, we urged collectors to wait to be able to purchase the coin for just £3.99 instead.
We would always suggest caution and user discretion when buying and selling on eBay. To get a more realistic idea of what your coin could potentially sell for, view the ‘sold listings’ on eBay to see the actual prices buyers have been willing to pay, although again there is still no guarantee that these sales have all actually gone through.
Remember – even the rarest of all circulating 50p coins – 1992/93 EU Presidency – was sold by Change Checker for just £20.
So to help you get the most out of your money, we’ve created 5 eBay buying tips:
Tip 1) Check recently sold prices
Whilst coins can be listed on eBay for incredibly high prices, it doesn’t mean they will actually sell at this price. Make sure you search for ‘sold listings’ when researching how much buyers are currently willing to pay to check that your coin is in line with this.
Tip 2) Check if it can still be bought from official Royal Mint distributors
Take a look online at The Royal Mint’s website and on our site to see if the coin can still be bought from an official distributor, as this will affect the price of the coin on the secondary market. Buyers will be willing to pay more for a coin on the secondary market if it is no longer on sale at The Royal Mint.
Tip 3) Check if the coin is real or fake
The only way to know for certain that a coin is real is for it to be x-rayed, however there are some simple checks you can make yourself such as making sure the edge inscription and date matches the design and that the coin condition reflects the amount of time it’s been in circulation. For example, the Kew Gardens 50p has been in circulation for nearly 10 years, so a shiny Kew for sale on eBay is likely to be a fake unless it’s in the original packaging.
Tip 4) Check the coins rarity
Use our mintage charts and Scarcity Index to see how scarce the coin is and check our blogs to see if it has an interesting story that makes the coin more sought-after. Make sure you check for any errors that could add to the coins value, such as the wrong date or metal being used.
Tip 5) Check the coins condition
If the coin is in Brilliant Uncirculated quality it will most likely sell for more than a circulated coin which is more worn. Typically, the more worn the coin is, the less a buyer is likely to be willing to pay.
Remember you can also use our 6 point guide to valuing your coins to help you determine how much your coin might realistically be worth.
Best of luck buying and selling your coins!
If you’re interested in coin collecting, our Change Checker web app is completely free to use and allows users to:
– Find and identify the coins in their pocket
– Collect and track the coins they have
– Swap their spare coins with other Change Checkers
Sign up today at: www.changechecker.org/app
How much is my Charles Dickens £2 worth?
Every keen collector knows that it’s worthwhile paying close attention to the small details of your coins – it’s the only way you can ever hope to spot an error. However, it’s also important to know when you have a genuine rarity (and when you don’t).
There are a few stories that crop up more often than others, and one of them is the elaborated value of the Charles Dickens £2. So hopefully this post will help dispel some of the myths about the coin.
Could your Charles Dickens £2 be worth a fortune?
The Charles Dickens £2 coin was issued by The Royal Mint in 2012 to commemorate the 200th anniversary of one of Britain’s most famous and beloved writers. The design features Dickens’ recognisable profile crafted from the titles of his most famous works, and it’s a favourite amongst collectors.
But occasionally, a number of stories pop up regarding the ‘errors’ people have noticed, such as fading dots around the centre part, upside down edge lettering and misspelling of the edge inscription. In fact, some of these coins have even been listed on eBay for thousands of pounds, leaving Change Checkers wondering “how much is the Charles Dickens’ £2 coin actually worth?”
But before you get too excited and consider putting your Charles Dickens up for sale, let’s take a look at what these ‘errors’ really mean…
Disappearing dots
This has also been found on many other £2 coins so is not exclusive to the Dickens coin, where the dots that should that go all around the silver centre of the coin suddenly disappear. Unfortunately this wouldn’t actually add any value to the coin, as it is simply caused by the mass production process, where millions of coins are being struck at once and the dies get worn down.
It’s difficult to ensure all coins are produced exactly the same, considering that millions are struck at one time, but we definitely feel that variations like this make collecting even more exciting!
Upside down lettering
Upside down lettering is very common on bi-metallic coins and can be seen on many of the £2 coins you can find in your change. Again, this isn’t actually an error, but a variation to look out for on your coins. It happens during the minting process, when the edge lettering is applied before the obverse and reverse of the coin have even been struck.
This then explains why some coins can end up with the edge lettering appearing upside down.
Misspelled edge inscription
Many people have noticed that there is a ‘miss spelled’ WILL on the edge inscription of their Charles Dickens £2 coin. This is actually caused by a worn out die, where the end of the L has been worn down to look like an I.
This is a common variation amongst coins and can also be seen on the 2005 Gunpowder plot £2, which now has many variations of edge inscription due to the worn out R appearing as a P.
So how much is it actually worth?
The Charles Dickens £2 coin actually ranks as ‘common’ on our Scarcity Index, meaning it’s not considered a rare coin, however it is interesting to hear about the different variations people have noticed on their coins and looking out for these makes for great coin collecting!
Unfortunately, people listing coins like this on eBay hoping for extortionate amounts are usually just chancers looking for a quick buck and it’s rare that the coin has an actual error.
It’s the differences caused by human error, such as a wrong date or design or even the wrong metal used that are a lot more sought after and would likely have added value for your coin – so be sure to keep a look out for these!
You can use our 6 point guide to valuing your coins to work out how much your coins could actually be worth.
You can also check out our eBay Tracker to see what the top rarest coins and banknotes are selling for on the secondary market.
The truly unique ‘Bronze 20p’ error coin
ENTRIES TO THE ‘BRONZE 20P’ DRAW ARE NOW CLOSED
We love to hear when Change Checkers make a great coin discovery. We’re often contacted about mis-strikes which are interesting oddities but what really excites us are ‘error’ coins.
Genuine ‘error’ coins, especially those verified by The Royal Mint, are VERY rare and finding one is a goal for many change collectors.
So imagine our excitement when somebody contacted us after finding one of the rarest ‘error’ coins yet!
The ‘Bronze 20p’
Earlier this year, we were contacted by a collector named David Crosier who informed us he’d found a very rare ‘error’ coin.
A collector for over 50 years, David told us how he’d often look out for mis-strikes and ‘mules’ but there was something special about this particular coin. Initially he presumed the coin was plated but decided to send it to The Royal Mint to be certain.
The ‘Bronze 20p’ flanked by a 20p and 1p coin from the same year
After examination by x-ray fluorescence spectrometry, the coin was confirmed by The Royal Mint as an extremely sought-after minting ‘error’.
Somehow a 1p ‘blank’ found its way into the presses and a 20p was accidentally struck onto it.
The ‘Bronze 20p’ is significantly thinner than he standard 20p coin
Errors like this are extremely rare, in fact so rare we’ve never heard of another ‘Bronze 20p’, but The Royal Mint verified the authenticity of the coin with a letter and so here at Change Checker we knew this was an opportunity not to be missed.
Chris Barker, Assistant Curator for The Royal Mint Museum, confirmed the ‘Bronze 20p’ as a genuine ‘error’ coin
Now the great news… we want to give away the amazing ‘Bronze 20p’ to one lucky Change Checker!
And what’s more, you won’t just win the ‘Bronze 20p’, the coin is set in a specially designed presentation box alongside a Brilliant Uncirculated 1p and a Brilliant Uncirculated 20p coin from the same year, beautifully highlighting the minting error.
The ‘Bronze 20p’ is housed in a specially designed presentation box alongside a Brilliant Uncirculated 20p and 1p coin from the same year.
Your chance to win the coin
We’ll be selecting a lucky Change Checker to win this coin. If you’re already registered then we’ll automatically include you in the draw.
To register your free account, all you need to do is enter your email address and choose a password.
ENTRIES FOR THE ‘BRONZE 20P’ DRAW ARE NOW CLOSED
Full Terms and Conditions can be found below.
Good luck!
Terms & Conditions
- All registered members of changechecker.org at midnight on 7th December 2017 will be automatically entered into the prize draw. No purchase is necessary to register.
- The draw will take place on 11th December 2017 and the winner will be notified on that day by email to their registered changechecker.org email address.
- The winner will receive the “Bronze 20p”. There is no cash alternative.
- Participants agree to meet reasonable requests to assist publicity.
- The prize draw is promoted by The Westminster Collection / Change Checker, trading divisions of 288 Group Ltd.
- Employees of 288 Group and their families are not eligible to enter.