The "undated 20p coin" needs to
be undated on BOTH sides!
For 330 years the UK Royal Mint has dated its coins. However, for the first time in that period just over 200,000 20p undated coins have been produced by mistake.
Almost immediately scams, rip offs, fakes and con artists have rushed onto the scene to try to make a quick buck. This website is offered as a totally free service to try and raise awareness of what to look out for.
The biggest scams are happening on Ebay where people are cleverly listing normal 20p coins but implying they are 'dateless'.
For the new undated 20p coins to be worth anything they have to be undated on BOTH sides. There are Ebay sellers who are listing 'undated 20p coins' and stating they are undated on one side. This is NOT the undated 20p coin that everyone is talking about right now, this is a normal 20p coin!
So What's The Undated 20p Really Worth?
The important thing to remember when looking for one of the new undated 20 pence coins is the true value of the coin. There are some sellers listing the 20 pence coin for up to £1,000,000 (yes, one MILLION pounds!). The rough value of these coins is hard to say as it is whatever the market will stand, but at present £50 is offered for each undated 20p coin by the Royal Mint although it is true to say that they will no doubt sell them back to the public at a higher price than this. However, it is worth nowhere near some of the prices some sellers are trying to achieve simply because such a large number entered the public arena. The 20p missing date coin will have a good chance of increasing in value over time possibly but it will be a slow and long process and is not likely to ever be worth the sort of figures some sellers are trying to get.
To put it into context, back in 1983 the Royal Mint made a mistake with a 2p coin by putting "new pence" instead of "two pence" on the coin. Even now, decades later this coin has only increased in value to a couple of hundred pounds and it is also worth noting that much less of these entered circulation.
An undated 20p coin is worth what it is worth to you personally. If you are a collector then it may be worth slightly more to you out of personal interest, but if you are looking at it as an investment then the "20p no date coin" is probably not the best option for you and it is certainly worth making sure you are not paying ludicrous inflated prices for it.
Beware The Scammers!There are some sellers who are simply completely fraudulent. They are selling an undated 20p coin that they do not even own and have no intention of selling. Other practices include actually sending an envelope with a rip in it so that the seller can claim that the coin must have been stolen in transit.
To avoid these sorts of scams make sure you are only dealing with a reputable dealer or if you are purchasing on Ebay or any other auction site check their feedback and make sure they are an established and trusted seller. If this is one of their first items for sale then beware. Also look for warning signs, for example if a seller on Ebay has more than one undated 20 pence coins then you have to question if they really have any for sale at all. How did this seller manage to be lucky enough to not only come across just one dateless 20p but actaully mutliple undated 20p coins?!
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As stated earlier, the easiest way to get scammed is to assume you are buying a dateless 20 pence peice when you are not. The easiest way to fall for this is to see a listing on Ebay or even a dealers site that states something along the lines of "20 pence peice with no date on one side" or "20p no date on back" and so on. The seller then is not actually doing anything strictly illegal as they are telling you the truth of what they are selling but obviously they are preying on the fact that you will assume this is one of the 20p coins with no date that is worth a higher value. In fact what you will receive is a 20p coin that is worth 20p and not a penny more, however you could pay hundreds or even thousands for it!
So, if you're looking for a dateless 20p as an investment or to add to your collection then check you are buying from a legitimate seller, read all the small print, only deal with sellers that will use recorded delivery and most importantly check that the 20p peice that they are selling has no date on both the front and back of the coin. If you want a more stable solid investment in coins then why not try looking at traditional gold coins that have an established value and can often be cheaper than the so-called "no date 20p coins" and continue to rise in value.
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The problem with the true value of the undated 20p coin is that nobody really knows what it is worth. The price is probably being inflated short term by buyers who have heard about it on the news and tried to get in to earn a quick buck. However, when the dust has settled this could mean demand, and therefore price, suddenly drops and is worth less than you possibly paid.
I have now added an additional page to this site about other cheap instant invesments you can easily make that could prove to be better than the undated 20p opportunity. Click
HERE to open it in a new window.
I have offered up this information free of charge to avoid people being ripped off, losing money, or buying an undated 20p coin without knowing the facts. If you can afford to, please make a small donation. Absolutely any amount will be wonderful, no matter how small!
