Published On: Mon, Mar 11th, 2019

eBay: ‘Very rare’ Isle of Man 50p coin has sold for £750 – but why so expensive?

A 50p coin has been sold on eBay for a large sum with with little information available on the value.

Last week, the ‘very rare’ Isle of Man TT Racing 1997 coin went for a huge £750.

Although some commemorative coins can be worth a lot, experts have struggled to value this coin, which means the bidder has trusted the seller’s branding of the coin as ‘very rare’ and parted with their cash.

In the description for the coin, eBay user, “mark13700” wrote: “1997 Isle of Man 50p from the TT Races collection of coins.”

Along with four pictures of the 50p, “mark13700” goes on to explain why they think the coin is rare.

The user wrote: “This is the 30mm large older type coin and not the more common standard size.

“This was made just before the 50p was made smaller in 27mm, so was only available in small numbers in coin sets.”

The Isle of Man issues it’s own banknotes and coins and this one features the TT racing which takes place there every May or June.

The seller admitted the coin does have some surface marking, but will no doubt be pleased to have still managed to secure a buyer.

But is the coin worth so much?

Lee Boyce, consumer affairs editor at This is Money, told “eBay throw up examples of the coin for around £3-5 – or six to ten times its true value in the Isle of Man.

“Many listings describe the coin as ‘rare’ – but they have no real way of knowing.”

Lee contacted the manufactioner of the coins, Pobjoy, to try and get a valuation.

They told him: “Unfortunately, we do not share mintage figures on our commemorate coins, let alone our circulating coins.

“Our circulating coins depend on how many the Government demand, in which case the issue limit is unlimited.”

Lee clarifies that, with no real way of checking the coins value, it is only worth what people are willing to pay for it.

He adds: “It makes a good keepsake but don’t expect to be able to buy a motorbike with any of the profit you may make with it.”

This means that purchasing the rare coin is a risk as it may not have any value at all.

Recently, a ‘rare’ Benjamin Britten 50p coin was listed for £500 – but why the huge price tag? /life-style/life/1097063/eBay-rare-50p-coin-coins-Benjamin-Britten

According to Change Checker, a website dedicated to coins, the 50p has a mintage of 5,300,000 and rated four on the scarcity index, making it common.

Last week, another ‘rare’ 50p coin was selling for a whopping £5,000 – but is it worth it? /life-style/life/1096584/rare-coin-eBay-kew-garden

A Kew Gardens 50p coin was described as being in ‘mint’ condition as it went on sale for £5,000.

According to Change Checker, the coin has a mintage of 210,000 and rates 100 on the scarcity index – making it very rare.

Still, according to the publication, Spend It, Save It, What should you do?, the coin has a valuation of £100.

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