Coin expert warns collectors about potential scams involving a rare 50p coin that could be falsely listed for £25,000. Despite the high mintage of over 5 million, the 2020 Brexit coin is often misrepresented with inflated prices. The expert, known as @CoinCollectingWizard on social media, advises collectors to conduct their own research and not fall for extortionate price tags. He emphasizes that the common 50p coin is only worth its face value.
In a viral TikTok video, the expert explains how to identify a truly valuable coin, particularly a rare version of the Brexit coin with a different date from January 31, 2020. However, he notes that finding this rare version is highly unlikely, and collectors should not be misled by overpriced listings. The video has received widespread attention, with users sharing their own coin finds and expressing admiration for the expert’s insights.
The Brexit 50p coin was originally minted to commemorate the UK’s departure from the EU with an initial exit date of October 31, 2019. However, production was halted, and the coins were recycled due to the postponed departure date. A new series of “Brexit” 50p coins was launched in January 2020 to mark the actual withdrawal date on January 31, following the triggering of Article 50.
Collectors are urged to exercise caution and verify the authenticity and value of rare coins before making any purchases. Scammers may take advantage of the hype surrounding certain coins to deceive unsuspecting buyers. By staying informed and conducting thorough research, collectors can avoid falling victim to fraudulent schemes and ensure that they are making informed decisions when adding coins to their collections. Remember, not all that glitters is gold, especially in the world of coin collecting.