2p coin sells for £485 with ‘many more’ still out there
A rare edition of a 2p coin has sold for a jaw-dropping £485 on eBay, with more out there – do you have one?
The news has sparked coin collectors into a frenzy with experts urging people to check the back of their sofas along with their wallets to see if they boast the highly coveted coin.
The two pence piece is thought to be extremely rare and can sell for as much as 25,000 times its original value.
One, sold in Edinburgh in January 2020, made the lucky owner £485 after the coin was minted in error in 2015.
Sparking huge attention after it had been sold, it has gone on to become one of the most in-demand pieces in the world.
The reason why the coin is so rare is because it was the product of an error which saw it struck onto the nickel-plated steel base of a 10p instead of the copper-plated steel used for 2p coins.
This means that it is silver in colour, instead of copper.
Given it manufactures up to four million coins a day, errors at the Royal Mint are surprisingly rare, though error coins are known as ‘mules’.
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The Royal Mint implements a strict quality control system, meaning ‘mules’ are very rarely found in general circulation.
This only adds to their value among coin collectors, who are often willing to pay staggering prices in a bid to add these rare pennies to their collections.
The seller of the £485 'silver' 2p coin revealed he bought it from a friend in Thames Ditton, Surrey in 2018.
Prior to this, in 2016, a similar coin made one owner £1,350, nearly 70,000 times more than the actual value of the coin.
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