Are you a rare coin collector? If so, then we’ve got some news for you.
Collecting rare coins can be an exciting hobby, but it’s very important to do your research first. Now one TikTok user recently issued advice to his 215,000 followers after a common 50p coin sold for £20,000.
The user, known as @CoinCollectingWizard, discussed the Brexit 50p, a commemorative piece which was struck to mark the planned withdrawal of the United Kingdom from the European Union on October 31, 2019.
However, due to the date being delayed, the minting of the coins was paused. In the video, which begins with someone flying on a private jet because they found a “rare 50p coin worth £20,000”, the TikTok user advises people to seek a refund if this ever happens.
He stated: “This has a mintage of over 5million. The arrival of the Brexit 50p, officially known as the withdrawal from the European Union, didn’t go smoothly just like the political maze of the Brexit process itself.
“Eventually the coin was released and sometimes pops up with high price tags online. He added: “But you really shouldn’t believe everything you see on the internet, as it’s just worth 50p.”
He advised people to be cautious when looking at prices online, as he continued: “Just remember anyone can put these prices and you should be looking at sold prices rather than live listings.
“I promise you this 50p is only worth 50p and is one of the easiest coins to find in your change.”
The post received many likes and comments, and served as a reminder to be careful when buying and selling rare coins. To verify the authenticity of a rare coin, it’s essential to inspect it carefully for any visual flaws, verify its weight and diameter, and conduct thorough research.
Additionally, a coin’s history can provide valuable information about its origin. If you’re still unsure, consider consulting experts like Coin Hunter or ChangeChecker.
Always do your research before spending a significant amount of money on a coin.