A RESIDENT in Worcestershire has made a remarkable profit selling a rare 50p coin on eBay.

The seller, from Redditch, put the coin up for sale on the online marketplace.

A total of 18 bids to purchase the coin were submitted before the winning bid came in at £33, which is 66x the coin's face value.

The buyer will also have to hand over £3.45 for postage.

The coin is particularly special as it was the first in Britain to bear dual dates (1992-1993) rather than the normal singular date.

A fifty pence coin was issued in 1992 to commemorate the United Kingdom's Presidency of the European Community and the completion of the Single European Market.

Royal Mint said people who are looking to sell a coin on the secondary market should bear in mind that if it has an unusually low mintage - it might sell for higher than its face value.

It advises that collectors should always establish how many of the coins are in circulation before committing to a price and, if in doubt, consult an expert.

The company said the condition of a coin is measured in relation to how much wear and tear it has suffered over the years.

The closer to ‘mint condition’ (the condition it was in when it came off the production line at The Royal Mint) the higher value it could be. 

Rebecca Morgan, Director of Commemorative Coin at The Royal Mint, said: “There are occasionally reports of coins selling for large amounts on the secondary market, some of which seem a bit farfetched, so we want to ensure collectors have the right information and pay a fair price.

“A coin is ultimately worth what the collector is willing to pay for it, but there are factors you should consider before committing to a price. This can include the condition of the coin, its design, mintage figure and what it’s made of.

"If you have a coin and are unsure about its history, rarity or authenticity we offer a range of services at The Royal Mint to help establish its likely value, and help our customers build a bespoke collection.

"We also have a wide range of resources on our website to help people learn more about the coins in their pockets, and coins they might inherit from family members.”