A 50p coin featuring the late Queen Elizabeth has been listed on eBay for £1,000, but a coin collector has issued a warning that it is not rare and is only worth its face value.
The coin, which depicts Queen Elizabeth II wearing a necklace, was created by sculptor Raphael Maklouf and was in circulation from 1985 to 1997. It shows the Queen with a seated Britannia and lion on the reverse side.
Expert Advice on the 1997 Necklace 50p
A collector with 271,000 TikTok followers shared information about the coin, saying: "So you have a coin with Queen Elizabeth on and she is wearing a necklace, are you now rich? Pay attention."
He added: "There has been a lot of talk online about UK coins featuring Queen Elizabeth II wearing a necklace with many people believing these coins are rare and worth a lot of money, this is simply not true."
The collector emphasized that millions of these coins were minted across all denominations, from 1p to £2, making them common. He stated: "In reality, millions of coins with this portrait were minted across all denominations, from 1p to £2, making them very common."
True Value of the Coin
Despite some listings showing £10,000, the Britannia Coin Company says the coin typically fetches between £2 and £3. The company noted: "The reality is a seller can put whatever price they want on their eBay listing. No knowledgeable coin collector is going to pay £10,000 for a coin of this kind but if they can catch an inexperienced buyer with deep pockets then the seller has made a mint."
In 1997, a new 50p design was introduced, leading to large quantities being minted. The dealership added: "In fact, the 1997 50p is the most common 50p ever produced by the Royal Mint. More than four and a half million of these coins were struck for circulation with a range of collector's coins produced to celebrate this change to UK currency."
Why Rare Coins Are Valuable
Rare coins are desirable for several reasons: scarcity, history, condition, errors, and investment potential. Scarcity means low production numbers or surviving quantities can create high competition. History links coins to past rulers and events. Better condition grades increase value, and minting mistakes make certain batches uniquely rare. Coins also offer a tangible asset that can hedge against inflation.
If you suspect you have a rare coin, it's best to consult a professional. Avoid touching the front of the coin, as grease and oil can devalue it, and never clean it, as it must be kept in good condition.
