Tag Archives: £2

More of the Same…

We only had three sales overnight, which was either a disappointment or an opportunity, depending on your view. We used the time to put more items on eBay. I’m gradually working my way through the box of oddments we’ve been building up.

The competition for most fatuous question of the year is hotting up already, but “How much is a Charles Dickens £2 coin worth?” has set the bar fairly high. The clue is in the question. It’s worth £2. That’s how money works.

Charles Dickens

Picture taken from Change Checker, a great resource for information on modern coins.

It seems that the enquirer hadn’t seen one before and, fuelled by newspaper and internet reports, was hoping it would be rare and valuable. The truth is that so many people are looking for “rare” coins that they all get taken out of circulation and nobody ever does see them. However, there were a number on eBay at up to £3,745 so you can’t blame people for thinking they are valuable.

There were 8,190,000 minted, so I’m guessing they aren’t really rare.

I’m sure there will be a couple more contenders before the end of the year.

I’ve been reading The Spring Journey to the Saxon Shore. It’s the pioneering British haibun and it’s very good. It’s now on my “to review” list. First I’m going to read it again. It was £7 from the author but £13.45 from Amazon. Guess where I bought my copy from.

 

I see we already have three sales on eBay, including something I loaded today. That should keep me occupied for the first half hour.

And now, as midnight draws close, it’s time to go. See you all tomorrow.

 

“Rare” Coins and Dark Thoughts

It sometimes feels like we’re under siege in the shop.

Every day we get phone calls or personal callers with “rare coins” to sell. I don’t mind it if the coins are old (by which I mean pre-decimal) because there is at least some hope of something interesting cropping up. The “rare coins” that provoke me to thoughts of homicide are the ones that are reported as being rare in the press, on the internet,or, even worse, on ebay.

Recently we’ve had several reports of rare 2007 £2 coins. It’s a commemorative issue which marks the abolition of the slave trade in the British Empire. The rarity is not in the coin itself (with a mintage of over 8,000,000 it’s actually reasonably common) but in the placement of the edge inscription.

The motto AM I NOT A MAN AND A BROTHER is impressed around the edge. According to the intellectual giants who stoke the hellish fires of rare coin “knowledge” the lettering should be right way up when the Queen’s head is uppermost. If it is upside down, the coin is the “rare” variety.

2007 £2 coin

2007 £2 coin – reverse

Now, this is where things start to come unstuck. The edge inscriptions are put on by a roller before the final striking and people who know about the process are happy that the inscription is going to land in accordance with the laws of chance – 50% will be right way up and 50% will be rare varieties worth £300 on ebay.

Or, to look at it another way, there is no rare variety. There’s also no evidence of one selling for £300 on ebay in the last month or so.

Turning to the actual prices realised on ebay, which are often very different from the fanciful figures put on the coins that don’t actually sell, I found one that sold  for £500, one for £102, one for £23, three for £20 and only two others in double figures.

Some people clearly shouldn’t be allowed on ebay without supervision.

Thirty three coins, after allowing for ebay fees, sold for £2 or less, with several selling for 99 pence.

That’s from a total of 155 sales in the last 6 weeks.

I will let the figures speak for themselves.