Posts Tagged ‘eBay’

Could I be minted? The 6 point guide to valuing your coin!

So, you’ve been hunting down that coin for what feels like a lifetime and now it’s finally turned up in your change! But after the excitement and thrill of finding that elusive coin, you find yourself asking the question, “What do I do next?”…

There are a number of options for deciding what to do with your coin and whilst many collectors enjoy holding onto them to build their collection, pass down to children, or potentially see their value change, lots of people look to sell these coins on auction sites, through dealers or on eBay.

The rarest coins out there can sell for far more than their face value, for example the Kew Gardens 50p is currently selling for an average of £80 on eBay – that’s 160 times face value (*correct as of June 2018).

Before deciding whether to sell or save, you should first take a run through our 6 point guide to make sure you’re getting the most out of your coin:

 

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1) How does your coin rate on the Scarcity Index?

The Change Checker Scarcity Index tracks which coins are the most scarce and collectable using a unique combination of mintage, collecting and swap data to give the most up-to-date picture of the collecting market. View our latest index here >>

The higher the Scarcity Index score for your coin, the more sought-after it will be to collectors.

 

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The Change Checker Scarcity Index enables you to find out how scarce your coins are and is updated quarterly.

 

2) How much is your coin worth?

It can be difficult to work out an exact valuation, as this depends on so many variants, however once you have completed point 1 you will have a better understanding of how collectable your coin might be. The next step is to check previously sold items on auction sites such as eBay to see how much potential buyers are willing to pay. Luckily, we’ve done the hard work for you and have put together our eBay Tracker which takes the last 9 sold prices achieved on eBay for 10 of the UK’s most popular coins and banknotes. This gives the median price achieved (rounded to the nearest 50p).

*Note: It is very important to check ‘Sold listings’ rather than active listings, as the price a coin is listed for may not be the actual price it sells at.

 

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Make sure to check ‘Sold listings’ rather than active listings when trying to find out what your coin is worth on eBay

 

3) How easy is it to buy your coin?

If your coin can still be purchased in Brilliant Uncirculated quality from an official Royal Mint distributor, it is unlikely that a collector would pay the same price for a circulation quality coin which might have imperfections.

 

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Change Checker is an official distributor of Royal Mint products. We have a range of 50p, £2 and £5 coins that are specially struck and encapsulated in Change Checker packaging to preserve their pristine condition and our prices start as little as £3.99.

 

4) What condition is your coin in?

Understandably, collectors are likely to pay a little extra for a coin in pristine condition, rather than a coin showing signs of wear and tear. However, there are some rare
coins (such as the Commonwealth Games £2) which are very hard to find in good condition and yet they still sell way above face value.

 

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5) Does your coin have a story?

It’s often true that the coins with an interesting story behind them are the hardest to get hold of and so it’s worth researching your coin to see if you can find anything that stands out or any exciting facts about the coin.

A prime example are the 2008 20p mules which were accidentally struck without a date. These coins are now regarded as the Holy Grail of change collecting even though there are as many as 250,000 coins in circulation.

And as every keen collector knows, it’s worthwhile paying close attention to the small details of your coins as it’s the only way you can ever hope to spot an error or mis-strike like the undated 20p or inverted effigy Britannia £2. However, it’s also important to know when you have a genuine rarity as the mass production minting process is never completely exempt from human error, so remember to always check your change carefully. Mistakes happen, and when it comes to coins, these mistakes can often be worth a lot money to sharp-eyed collectors. Make sure you’re aware of the most popular coin mis-strikes and myths in UK coinage.

If you do need extra clarification on your coin, The Royal Mint offer an authentication service starting from £10 and will provide you with a letter to confirm the coin’s authenticity.

 

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The Undated 20p is regarded as the holy grail of change collecting

 

6) Where can you sell your coin?

Now that you have a better idea of how much you could sell your coin for and why, it’s time to find a seller that’s willing to pay! Coin dealers, auction sites, Facebook coin groups and eBay are your best bets.

You can contact a member of the British Numismatics Trade Association who will advise you on auctioning your coin, although they do charge for this service. If you’re selling on eBay, be sure to set a minimum price equal to or higher than face value and be mindful that if your coin ‘sells’ at a high price, the sale may not actually go through.

 

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Remember, your coin is legal tender and therefore will always be worth at least face value.

Whether or not you decide to sell your coin, I think you can agree that the buzz of finding rare coins in your change is second to none and one of the best hobbies to have!


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

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Sign up today at: www.changechecker.org/app

How much is my coin worth? – A five point guide.

How much is my coin worth? It’s a question I’m asked multiple times each day, and with some coins selling for many times their face value, I understand why you’d be keen to know.

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The truth is, it’s very hard to tell you exactly what your coin is worth as it depends on so many variants. Coins are no different to any other kind of collectible in many ways; there are certain criteria which you should always look out for, which can help you to determine how collectible or valuable your coin is.

Often it’s a very difficult question to answer but with a little bit of detective work you should be able to work out an accurate value for your coin. I’ve put together some useful tips, in our 5 point guide below, to get you started:

1. Change Checker Scarcity Index

The first place to start is our Change Checker Scarcity Index. I believe this to be the single most accurate way of determining how scarce your coins are. Whilst it doesn’t give you an actual value we know that the value of a coin is directly linked to scarcity.

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The Change Checker Scarcity Index is a very useful tool to help value your coin

Historically, when trying to determine the scarcity of a coin, the mintage figure was considered the most accurate indicator. Whilst the mintage figures are undoubtedly important, our Scarcity Index also takes into consideration some very useful data from our Change Checker web app.

We combine the mintage information with two other key pieces of information:

  • How many of each design are listed as “collected” by Change Checkers, indicating the relative ease of finding a particular coin.
  • The number of times a design has been requested as a swap over the previous 3 months, showing the current level of collector demand.

It’s very simple to work out how scarce your coin is, each coin is given a score out of 100, the higher the score the more scarce that coin is.

2. eBay is best

Once you’ve determined the scarcity of your coin the next step would be to take a look at what has recently sold on eBay. It’s very important that you make sure you look at ‘recently sold’ coins and not just those that have been listed. Essentially, anybody can list a coin on eBay and charge whatever amount they wish.

By checking the recently sold items (and I’d suggest you look at the previous 3-5 coins sold) you will get an accurate indication of what people are willing to pay for a particular coin.

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Make sure you look the ‘Sold Listings’ on eBay to check the price people are paying for coins.

Also, if you are looking to sell any coins in your collection, I’d definitely recommend eBay as the easiest, and importantly, the most secure platform to do this.

3. Are your coins still available to buy in BU quality?

Next, it’s worth checking if the coin in your collection is still available to purchase in superior Brilliant Uncirculated quality from an official Royal Mint distributor. If it is still for sale,  it’s unlikely that people would purchase a circulation quality coin for the same price.

Westminster Shop - How much is my coin worth? - A five point guide.

If Brilliant Uncirculated coins are still available to purchase, it’s unlikely people will buy a circulation quality coin.

If there are no longer any BU coins available to buy, this will work in your favour as collectors will then look for circulation quality coins to add to their collections.

4. Coin condition

It’s definitely worth checking the condition of your coin as this will, almost always, have an effect on the value.  It’s no surprise that collectors favour the more pristine coins to those that are showing signs of wear and tear due to circulation.

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The condition of your coin will likely affect its value.

However, your coin’s condition is not the be all and end all; it’s very rare to find a circulation 2002 Commonwealth Games £2 coin in good condition yet these sell for many times their face value.

5. Is there a story?

This can often tie-in with rarity, as the coins with a good story behind them tend to be the ones which are difficult to get your hands on! The “undated 20p” is a recent example of a such a coin. It is known as a ‘mule’ – a coin with a mismatched obverse and reverse (heads and tails). The name derives from a mule being the hybrid offspring of a horse and donkey.

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The ‘undated 20p’ generated a huge amount of media coverage resulting in coins selling for many times their face value.

In 2008 when the reverse of the 20p coin changed to the new Royal Shield design, approximately 100,000 coins were accidentally struck with the previous obverse die and therefore there was no date on the coin.

In a similar way to the Kew Gardens story, some of the prices being quoted as a result of media coverage were extraordinary. Mules are highly sought after by collectors, and an undated 20p will certainly be worth more than its face value in years to come.

It’s always good to remember that if  your coin is legal tender, it will always be worth at least its face value.The good news…

That’s why I think change collecting is the best hobby you could have!


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

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Sign up today at: www.changechecker.org/app

Introducing the new Change Checker eBay Tracker!

I am contacted many times each day by Change Checkers asking, “How much is my coin worth?”.

In truth, the value of a coin is simply what a collector is willing to pay. However, I cannot deny that certain coins do regularly command many times more than face value when sold on auction sites.

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There is a lot of misinformation reported in the press regarding coin valuations. News outlets regularly report common coins being worth many thousands of pounds, simply because somebody has listed it for an extortionate amount of money.

In reality, nobody is ever going to pay thousands of pounds for a circulation Benjamin Britten 50p (despite it being a lovely coin!).

To help determine a realistic price for some of the most sought after UK circulation coins, I’m delighted to introduce the Change Checker eBay Tracker, which compares the median price paid for recent completed eBay sales for 10 of the UK’s most popular coins and banknotes.

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As you may expect, with the high levels of press coverage surrounding circulating coins and banknotes, prices have generally increased over the period.

The Kew Gardens 50p will now set you back £82, £10 more than 6 months ago. The Jemima Puddle-Duck 50p has more than doubled in its selling price and the Olympic Football 50p is now regularly purchased for over £10.

The AA01 serial numbered polymer £10 banknotes are selling for £21 and it’ll be very interesting to see if this level on interest continues during the next 6 months.

How does the eBay Tracker work?

The Change Checker eBay Tracker takes the last 9 sold prices achieved on eBay and gives the median price achieved (rounded to the nearest 50p). By taking the median, rather than an average, we avoid skewing created by one or two excessive prices achieved.

Please note that the Change Checker eBay Tracker is only ever designed to be a guide as to prices achieved on eBay. Prices may vary depending on collector demand and the quality of the coin being sold. It does not provide any guarantee as to future values of coins.


Change Checker eBay Tracker updates

The next update will be released in June 2018, so if you’d like to be kept informed with any Change Checker eBay Tracker news, just fill in your details in the form below.