King Charles III 50p coin listed at a sensible £2.50 in Norwich - after it was flogged on eBay for £1.2k

The coin is the first to enter circulation in King Charles III's reign and an estimated 4.9 million coins have been distributed via post offices

A King Charles III 50p coin which was listed on eBay for £1,250 - nearly 2,500 times its face value - was actually circulated just three years ago in 2022. But now an example of the coin has been found on eBay in Norwich for as little as £2.50 - a 500 times cheaper asking price.

And the Norwich pricing is rather more accurate to its actual rarity.

The King Charles III 50p coin is listed at a sensible £2.50 in Norwich (Image: eBay)

The coin is the first coin to enter circulation in King Charles III's reign and an estimated 4.9 million coins have been distributed via post offices.

READ MORE: Beatrix Potter coin listed for £150k just £1 in Norwich

But this high figure is easily overshadowed by the circulation of all-time rare 50p coins such as Kew Gardens which only ever had 210,000 copies minted.

It comes as resellers attempt to take advantage of avid coin collectors following the growth in popularity of the hobby by hiking up prices that few if any are willing to pay.

Resellers are attempting to charge would-be buyers more than £1,000 for the coin (Image: eBay)

On the King Charles III coin, a spokesman for coin-collecting website Change Checker said: "The coin at the top of the 50p Scarcity Index is the Kew Gardens 50p – just 210,000 entered circulation in 2009 and they still over 13 years later fetch around £100 on secondary market sites.

"The value of the King Charles III 50p depends on what someone is prepared to pay in the future – that’s part of the joy of collecting."