SPOTTING a rare coin in your change could be a big money-spinner – especially if you spot a 50p featuring a specific animal.
If you discover a sought-after coin in your change, you can make money on it by selling it on.
You could do this through an auction, either online, in person, or through a dealer.
There are some coins which are known to fetch large sums of cash, such as the Kew Gardens 50p and the commemorative 50p coins minted to mark the London 2012 games.
But there are also lesser-known designs that are worth keeping an eye out for – like the Worldwide Fund for Nature (WWF) 50p coin.
This special coin was released in 2011, and features the famous WWF panda logo in the middle.
There’s 50 other animals surrounding it including elephants, birds, polar bears and butterflies.
Around 3,400,000 of these coins were released into circulation in 2011, making it the tenth rarest 50p there is, according to Change Checker.
If a coin is rare, there are not many of them about – and the WWF 50p is one of the least likely coins you’ll come across in your spare change.
But a coin not only needs to be rare to increase its value – it needs to be scarce too.
That means a lot of people want them.
According to Change Checker, WWF coins are not the most highly sought after coins.
They are ranked 15th on the index – with 100 being the most in demand coin there is – King Charles III Atlantic Salmon 50p.
But collectors will stay pay up for a WWF coin to add to their collection.
The Sun spotted one of these coins that was flogged for £3 on October 18.
Meanwhile, another sold for £5.50 on October 13 with nine bids.
While this may not seem like a significant amount of money, it’s still 11 times more than the coin’s face value.
What are the most rare and valuable coins?
- Five rarest coins – do you have one?
- The 13 most valuable £2 coins in circulation
- How valuable are the rarest £1 coins?
- Most rare and valuable 50p coins in circulation
- Rare and most valuable 20p coins that could be worth up to £750
- Rarest 10p coins in circulation
- Rare 2p coins revealed
- How to check if you have a rare and valuable banknote
How to check if a coin is rare
In most cases, a coin is rare if it has a low mintage figure – which is set by The Royal Mint.
The mintage figure relates to how many of the coins were made, so the fewer there are of them, the rarer they are.
You can find out what coins are rare and how they look on The Royal Mint’s website.
Your next step after this is seeing if the same coin is still available to buy in superior Brilliant Uncirculated quality from an official Royal Mint distributor, according to Change Checker.
These coins have been specially made to a superior quality which differentiates them from other coins you might find in your pocket.
How to sell a rare coin
If, after checking, you realise you’ve come across a rare coin, there’s a number of ways you can sell it.
You can sell it on eBay, through Facebook, or in an auction.
But be wary of the risks.
For example, there are a number of scams targeting sellers on Facebook.
Crooks will say they’re planning to buy the item, and ask for money upfront for a courier they’ll be sending around.
But it’s all a ruse to get you to send free cash to them – and they never have any intention of picking your item up.
It’s always best to meet in person when buying or selling on Facebook Marketplace.
Ensure it’s a public meeting spot that’s in a well-lit area.
Avoid payment links and log in directly through the payment method’s website.
Most sellers prefer to deal with cash directly when meeting to ensure it’s legitimate.
The safest way to sell a rare coin is more than likely at auction. You can organise this with The Royal Mint’s Collectors Service.
It has a team of experts who can help you authenticate and value your coin.
You can get in touch via email and a member of the valuation team will contact get back to you.
You will be charged for the service though – the cost varies depending on the size of your collection.
Meanwhile, you can sell rare coins on eBay.
But take into account that if you manage to sell your item then eBay will charge you 10% of the money you made – this includes postage and packaging.
Always keep proof of postage to protect yourself from dodgy buyers who may claim they never received their item.
Send the parcel by tracked delivery if you can.
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