The slide in the sales value of the famous Kew Gardens 50p coin continues almost as quickly as its recent rise (see my earlier post).
While some people have been slow off the mark to list their Kew 50ps for the £100+ the media told us they were worth just a few days ago, these attract no bids on eBay.
Instead we have watched as the artificial £100 price spike built on the back of a Royal Mint press release about its range of Great British Coin Hunt collectors’ albums swiftly fell to £80 by the end of the weekend, to £50 on Monday / Tuesday and today (Wednesday) the large number of Kew coins plucked from circulation because of the recent media storm are selling for twenty-something pounds.
It looks like the artificial price spike will have faded completely within the week and the value of this coin will shortly return to the £15 to £20 level it previously held.
I don’t know who is kicking themselves harder: those who didn’t get their coins auctioned during the two-day price spike or those who paid £100 for a coin a week ago and now watching as the prices for the same coins spiral towards less than £20.