Published On: Tue, Aug 27th, 2019

eBay: ‘Rare’ 2019 Sherlock Holmes 50p coin selling for £3,000 – why is it so expensive?

eBay has become a popular spot for coin collectors and enthusiasts to find unique pieces. The auction site lists hundreds of supposedly “rare” coins on a daily basis. One such piece is this 2019 Sherlock Holmes 50p coin, which was recently posted on the site for a whopping £3,010. Branded “rare” by its owner, the current seller – “vadjam_38” – suggested a starting price of £3,010. On top of the high selling price, the seller has asked that the buyer pay an economy delivery fee of £1.32. This would make the coin over 6,000 times its face value of 50p, but is it worth it?

The coin on offer was designed by textual artist and designer Stephen Raw and was released in 2019.

On the face of the coin, there is the recognisable illustration of Sherlock Holmes smoking a pipe.

Around this, the titles of popular Sherlock Holmes tales are written out.

This is also the first time Sherlock Holmes has featured on a coin.

Although the mintage of the coin is not yet known, it is not necessarily rare or worth as much as the selling price would suggest.

In fact, this coin is currently available to buy on the Royal Mint website for just £10.

Why is the coin so expensive despite its worth?

Sellers are well within their right to list items at whatever price they choose, therefore it’s down to the seller to take note when purchasing goods online.

In the coin publication Spend It? Save It? What Should You Do?, the experts explained that sellers are well within their right to list coins at whatever price they choose.

The experts found that high price tags can make more affordable listings seem much more appealing, which could explain why some coins sell for as high as £6,000.

More often than not, the coins aren’t even worth that, so the buyer still ends up paying more than it is worth.

Nevertheless, they warned buyers, saying: “So remember – just because a coin is listed at a certain price that doesn’t mean it is worth it and just because something seems to have sold for a certain amount that doesn’t mean it actually did.”

Another 50p coin was recently listed on the auction site for £1,000.

The eBay user, “missmiumiu31”, uploaded a Mrs Tiggy-Winkle Beatrix Potter fifty pence piece from 2016 with a whopping starting price.

The coin is described as “rare” and in “excellent” condition, but is the £950 price tag actually a bargain?

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