A RESIDENT in Worcester has made a tidy profit selling a 'very rare' £2 coin on eBay.

The seller, who is from Worcester, put the coin up for sale on the online marketplace.

A total of 6 bids to purchase the coin were submitted before the winning bid came in at £16, which is eight times the coin's face value.

The buyer will also have to hand over 75p for postage.

The coin, which is among three Shakespeare coins issued by Royal Mint in 2016, marked the 400th anniversary of the death of one of the UK's most famous playwriters.

This coin is named Tragedies and was distributed alongside Comedies and Histories.

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.”