When it comes to selling something on eBay, many sellers can feel torn between setting a low starting price, or putting in a higher initial figure.
Opting for a pricey sum at first could mean there’s less of a risk of not reaching the item’s actual value.
However, starting low may draw in interest from prospective buyers.
That certainly seemed to be the case this week, after the seller “scott11160nitram” sold a 50p coin for £480 in the auction – after originally listing it for a starting price of 99p.
After 29 bids from a number of interested parties, one buyer, known only as “a***u” was victorious in the auction.
The bidder will now be able to purchase the coin for a whopping £480.
That doesn’t include the £8.30 fee for postage, which the seller has insisted will be First Class Signed For.
So, why were so many people interested in this particular coin?
The 50 pence piece is a 2018 Peter Rabbit coin, and is said to be very rare.
The silver proof design is no longer available to buy on The Royal Mint website, and was created as a limited edition.
It was created as the first – and only – official UK coin which celebrates Beatrix Potter’s character Peter Rabbit.
With a mintage of just 15,000, these coins are relatively scarce.
While they can’t be bought on the website, The Royal Mint used to sell the collector’s item for a huge £55.
And, it seems that when they were for sale, they were extremely popular, as a statement on the website read: “Due to overwhelming demand, now strictly limited to five per household”.
On the coin itself, the blue-coasted bunny is captured in colour on the reverse.
It was designed by Royal Mint coin designer Emma Noble, and reflects the watercolour style of the original Peter Rabbit illustrations.
The 50p, which is a collector’s coin rather than one that would normally be spent in shops, was presented in a Perspex block.
Photos of the coin on the eBay listing show the coin in the same type of presentation case.
As well as detailing the limited edition mintage, the seller also described the coin as “VERY RARE”.
The item was listed for a mammoth £900 at auction, with the seller claiming it featured two mint errors.
Which are the rarest £1, £2, 50p, 20p, 10p and 2p coins?
Rarest £2 coins
The rarest £2 coin is the 2002 Commonwealth Games NI coin with 485,500 in circulation. This is followed by the 2002 Commonwealth Games Wales which has 588,500 in circulation.
Next up is the 2015 Navy, and there are 650,000 in circulation.
Rarest £1 coins
The most rare £1 coins are all part of a series celebrating the British capitals.
The rarest of these is the 2011 Edinburgh coin, with 935,000 in circulation. Of the 2011 Cardiff coins there are 1,615,000 in circulation, while the 2010 London coin has 2,635,000 in circulation.
Rarest 50p coin
The rarest 50p coin is the Kew Gardens coin, which is also the rarest coin in circulation. It there were only 210,000 minted.
The football Olympic 50p coin has 1,125,500 in circulation, and the wrestling coin has 1,129,500 in circulation.
It is not so easy to evaluate the rarest 20p coins, 10p coins and even 2p coins as exact circulation figures are not known.
However, various versions of the coins are known to sell for large sums.
These include the dateless 20ps, which are actually part of a run from 2008. There may be between 50,000 and 200,000 of these coins in circulation.
The 1983 ‘New Pence’ 2p coin can also sell for a huge sum, up to £650.