Diversity Built Britain 50p

mrsjanebanbury2009

I am confused and I wonder if any one can explain. On eBay at the moment there are Diversity Built Britain 50p coins on sale from anything from £1.45 up to £20,000..... . I understand that some people will just try it on. But if you look at the Sold items there are also listings which seem to have sold for anything from 50p up to £20K. Some of those at the top end have been relisted and therefore I get they probably didn't actually sell for that, but there are still 40+ sales in the last couple of months sold at over £5000. At the other end of the scale there are 200+ sales for under £2. What's going on? Thanks in advance for any enlightenment!

soolin

People believe the hype that these coins are valuable, the tabloids insist on keep putting out incorrect stories and hyping them up. The coin is a common one, it is worth 50p although occasionally a buyer will get bidding fever and pay more, but most of the expensive sales are just time wasters trying to make a point.

Pollycat

I've got 4 x Diversity Built Britain 50p.

I don't for one minute think I've got up to £80k.
I do know I've got £2.00. 

mrsjanebanbury2009

soolin said:

People believe the hype that these coins are valuable, the tabloids insist on keep putting out incorrect stories and hyping them up. The coin is a common one, it is worth 50p although occasionally a buyer will get bidding fever and pay more, but most of the expensive sales are just time wasters trying to make a point.

So you mean none of those sales will have actually gone through? Thanks for answering btw

soolin

mrsjanebanbury2009 said:

soolin said:

People believe the hype that these coins are valuable, the tabloids insist on keep putting out incorrect stories and hyping them up. The coin is a common one, it is worth 50p although occasionally a buyer will get bidding fever and pay more, but most of the expensive sales are just time wasters trying to make a point.

So you mean none of those sales will have actually gone through? Thanks for answering btw

There's a lot of strange behaviour on ebay, I suspect people running up bids for a laugh etc. The same happens with beanie babies, which are usually worth less even than a diversity 50p coin, lots going for stupid amounts. That one is always blamed on money laundering, although I've never had it explained why the chose Beanies? 

tightauldgit

yeah just because an auction has ended at an amount doesn't mean any money has actually changed hands. 

Jerry_Cornelius

I remember during the pandemic and the shortage of toilet rolls, sellers offering packs at hundreds/thousands of pounds and getting bids! But i can't believe anyone was bidding seriously, just trying to torpedo that kind of scalping behaviour ...

The other thing is it might be international bidders, who dont realise how common the coins are.

kalsha

tightauldgit said:

yeah just because an auction has ended at an amount doesn't mean any money has actually changed hands. 

Doesn't that mean lot of buyers will end up with a strike for not paying?

soolin

kalsha said:

tightauldgit said:

yeah just because an auction has ended at an amount doesn't mean any money has actually changed hands. 

Doesn't that mean lot of buyers will end up with a strike for not paying?

Yes if sellers bother using the system, and many don't, they just cancel the sale or leave positive feedback with a negative comment- not realising that can be an instant removal of any strike if buyer pushes it. Then of course a lot of sellers don't bother blocking non payers, so if buyer has a throwaway account they might be able to do it a lot without any comeback on themselves. 

mtc95

When the team I support reached the FA Cup final many years ago, there was a lot of local anger that regular supporters were unable to get tickets for the game, but tickets were appearing on eBay.  So some fans organised auction-wrecking campaigns where they would bid the price up to several 1000s of pounds but with obviously no intention of paying that amount, leaving the tickets unsold.  It didn't stop the local paper printing headlines that "tickets were changing hands for thousands of pounds".

tightauldgit

kalsha said:

tightauldgit said:

yeah just because an auction has ended at an amount doesn't mean any money has actually changed hands. 

Doesn't that mean lot of buyers will end up with a strike for not paying?

Or they win and immediately cancel before paying - Ebay say that's fine.