A RARE 50p Snowman coin that has the wrong colours on it is selling for up to £128.
The collector coins – which have a colourful design of the lovable Raymond Briggs character printed on them – originally sold for £60 each.
Some eagle-eyed aficionados discovered that a few of these rare silver-proof coins have an error on them that can make them twice as valuable.
They are supposed to show The Snowman wearing a green scarf and cap as he flies with the little boy James over snowy Brighton Pier.
But on a few error coins, The Snowman’s scarf is blue and the boy’s red hair is a different shade.
Two have sold on eBay so far, fetching £128 on December 16 after 31 bids and £109.99 on November 23 after 20 bids.
How to spot a rare and valuable coin
HERE'S our guide to finding out if one of the coins in your loose change is worth hundreds or even thousands:
Find out if it’s rare
Firstly, take a look at our index of rare and valuable £1 coins and 50p coins.
Other rare and valuable coins could be in your collection – ones that contain small and subtle minting errors.
If it’s not a coin on a list – don’t count it out. It could be that you’ve found a new one that hasn’t been spotted before.
Find out how much it’s worth
After you’ve determined how rare your coin is by looking at the latest scarcity index, the next step would be to take a look at what has recently sold on eBay.
Experts from Change Checker recommend to look at “sold listings”.
That’s because anyone can list a coin on eBay and charge whatever amount they wish.
By checking the recently sold items you will get a more accurate indication of what people are willing to pay for a particular coin.
Are your coins still available to buy in BU quality?
Your next step would be to check if your coin is still available to purchase in superior Brilliant Uncirculated quality from an official Royal Mint distributor, according to ChangeChecker.
Certified Brilliant Uncirculated coins have been specially struck to a superior unblemished quality which set them apart from the coins you may find in pockets.
So, if your coin is still available for sale, its very unlikely that collectors would purchase a circulation quality coin for the same price.
Selling a coin at auction/through a dealer
If you’ve got a coin that you would like to sell at auction then you can contact a member of the British Numismatic Trade Association.
They usually deal in very old coins but they may be able to help you assess whether it’s worth selling your coin at auction or whether it would be valuable to collector.
For this service they will usually charge a fee or take a slice of the sale money.
You’ll often have to visit them in person with the coin in order for them to assess it.
Sell it on eBay
If you want to sell the coin you’ve found in your spare change on eBay then you need to know the risks.
Remember to set a minimum price that is higher or at the very least equal to the face value of the coin.
Even if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will cough out.
It its terms and conditions, the auction website states that bidders enter a “legally binding contract to purchase an item”, but there’s no way to enforce this rule in reality.
The most eBay can do is add a note to their account of the unpaid item or remove their ability to bid and buy.
Sadly, its unlikely one of these rare error coins will end up in your loose change.
The coins never entered circulation and only 15,000 went on sale.
They were snapped up within hours when they were first released by the Royal Mint last year.
The Royal Mint said it doesn’t consider the coins to have errors and said the colour changes are a result of “natural variation”.
A spokesman said: “The range of shades found on the commemorative Snowman coin are caused by natural variation during the printing process.
“We do not consider this an error.”
The Royal Mint manufactures four million coins a day, so you can see why sometimes things might go wrong during the minting process.
What are the most valuable error coins?
HAVE a rummage through the change in your pocket for a coin that's been minted with a mistake as it could be worth a small fortune.
1983 New Pence 2p coin worth up to £1,250
All 2p coins minted between February 1971 and 1982 should say “new pence” on the front, while those released after this date say “two pence”. But in 1983, a glitch meant a batch of 2p coins were printed with the old wording on them making them valuable to collectors.
Silver 2p (1971 to 1992) worth up to £1,000
These coins were accidentally struck on silver and can be easily mistaken for a 10p. James Weller from Kent found one in his change at home. He hasn’t sold it yet, but if it sells for anything like other silver 2p coins, then it could be worth more than £1,000.
All zinc £2 coin worth up to £800
The rare Standing on the Shoulders of Giants £2 coin has only been stamped on nickel brass, rather than on two types of metal – nickel brass and copper zinc. Approximately 10,270,000 of these types of coins were issued for circulation in 2007.
Bronze 20p worth up to £750
One of the rarest coins ever, the bronze 20p coin is dated 1987. The Royal Mint said it was the result of an extremely rare minting error, with a blank 1p somehow finding its way into the presses and ending up with a 20p struck onto it.
London 2012 Olympics Aquatics 50p first design worth up to £1,500
Not technically a printing error, this coin was originally minted with water passing directly over the swimmer’s face, but it was later modified to include less water so you can see the swimmer more clearly. Experts have valued this one to be worth between £1,000 and £1,500.
More on Money
We have an index of rare and valuable £1 coins and 50p coins to help you find out if you have one in your spare change.
If you bought one of the Snowman coins but don’t have one with an error on it, you could actually make more money.
Last year, we revealed that one of the rare coins sold for £195 on eBay.
It’s pretty rare if a batch of error coins makes it into circulation, which makes them very attractive to collectors.
We pay for your stories! Do you have a story for The Sun Online Money team? Email us at money@the-sun.co.uk or call 0207 78 24516. Don’t forget to join the Sun Money’s Facebook group for the latest bargains and money-saving advice.
Link
https://textbacklinkexchanges.com/snowman-50p-error-coin-sells-for-128-on-ebay-how-to-spot-a-rare-and-valuable-coin/
News Pictures Snowman 50p error coin sells for £128 on eBay – how to spot a rare and valuable coin
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