eBay: ‘Extremely rare’ Paddington Bear 50p coin selling for £2,500 – expert issues warning
Commemorative coins are of great interest to many people and often appear on the bidding site, eBay. Although these can sell for a bargain price, one has been listed for much more than face value. A Paddington Bear 50p coin was posted on the site for a whopping £2,500 – is it worth it?
- eBay: ‘Rare’ Paddington Bear 50p coin selling for £2,500 – why?
The fifty pence piece was listed by the seller “joabra-60” along with two snaps of it.
The seller wrote: “Extremely rare Paddington Bear London tower 2019 50p coin in excellent condition.”
They described the coin as being in great condition and very rare which could explain the high price tag.
However, it may not be worth as much as the listing would suggest and buyers should be wary of making an offer.
The coin on offer was the Paddington Bear London Tower coin, which was released in 2019.
Paddington Bear commemorative coins were first brought out in 2018 to celebrate the 60th anniversary of the children’s book, A Bear Called Paddington.
Last year, two more versions of the coin were released, one featuring St Paul’s Cathedral and the other at the Tower of London.
Designed by David Knapton, the coin of offer shows Paddington outside the Tower of London holding a marmalade sandwich.
Although the coins are popular with many people, they are not necessarily worth as much as the asking price would suggest.
The mintage of the 50 pence piece is not known, but it does not appear to be rare based on it’s valuation.
The coin was available to buy for £10 from The Royal Mint, although it is now sold out.
However, it can be bought from the Westminster Collection for just £4.50.
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The coin was also released in a Silver Proof version that featured the illustration in colour.
This can also be bought for a much more reasonable price and is available for £65 from The Royal Mint.
Commemorative coins are often listed for much more than face value, but this does not always reflect their worth.
Experts at the coin magazine, Spend It? Save It? What Should You Do? issued an important warning for potential buyers.
They said: “Sometimes what happens is someone will list a coin for £1,000 knowing they won’t sell it, but then list a similar coin for a much lower price (say £25).
“It won’t even be worth the £25 but as someone has seen it online for £1,000 they end up with a coin that’s worth just face value because they were too caught up with thinking they have bought something cheap.”
A coin is only worth as much as the buyer is willing to pay for it, however they could save by shopping around.
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