An entrepreneur who got bored of working as a labourer on a building site now makes up to £70,000 a year selling rare coins on eBay.
James Grear, 20, from Bristol, set up The Coin Supplier with his friend Harry when they were both 18 and looking to increase the £9 an hour they earned in the construction trade.
They got the idea for the company after Mr Grear noticed a rare WWF 50p from 2011 that was selling for eight times its value on eBay and realised there was cash to be made.
James Grear, 20,(pic) from Bristol, set up The Coin Supplier with his friend Harry when they were both 18 and looking to increase the £9 an hour they earned in the construction trade
They initially struggled to find enough rare coins to sell – as they were limited to withdrawing £100 of change a day from banks and could not find cash backers.
But two years later – after working on their supply chain – the company now has an annual turnover of between £50,000 and £70,000, with coins sold under fixed prices rather than auctioned.
Mr Grear told Sun Online’s Tara Evans: ‘I will literally sit and sort through all the coins. Since we started, I’ve learnt which coins are good and got much quicker at it’.
‘It wasn’t easy to find a supplier. We had to go out and find people that would support our business.’
Harry left to travel the world so Mr Grear now runs the firm from his bedroom, although he hopes to move into an office soon.
There is plenty of money to be made in selling rare and unusual coins, as our guide shows below.
But be careful – not all coins that look unusual will be worth anything extra.
Yasmin Britton, of Change Checker, says: ‘It could be that the coin is a mis-strike so the stamp is not central or complete. This can happen when a tiny bit of dirt gets into the machine and does not mean a coin is rare or valuable.
‘People may have plated their coins for various reasons and it’s even possible the coin is a fake.’
Why that 2p in your purse could be worth £1,400: The valuable coins that can turn up in your change
Here’s This Is Money’s guide to the valuable coins that can turn up in your change…
In 2009, around 210,000 50p coins were issued with a picture of the iconic Kew Gardens Pagoda
Kew Gardens 50p — value £30-£50
In 2009, around 210,000 50p coins were issued with a picture of the iconic Kew Gardens Pagoda.
While this might sound like a lot, usually when a new 50p is printed more than five million are struck.
And with a total of 950 million 50p coins currently in circulation, the Kew Pagoda coins can be incredibly hard to spot.
If you get your hands on one, numismatists — or currency collectors — are typically willing to pay around £30-50 on online marketplace eBay.
Undated royal 20p — value £100
In 2008, the Royal Mint launched a Royal Shield of Arms series of coins.
A different detail from the shield was printed on the reverse (tails) of 1p, 2p, 5p, 10p, 20p and 50p coins. Placed together, they reveal the complete shield.
But a mistake means an unknown number of the 136 million 20p coins printed between 2008 and 2009 do not have the date stamped on them.
A mistake means an unknown number of the 136 million 20p coins printed between 2008 and 2009 do not have the date stamped on them
Normally, a 20p coin will have the year it was minted stamped on either the heads or the tails side of the coin.
But if you find a 20p with no date, they are heralded by experts as the ‘Holy Grail of change collecting’.
Buyers are willing to pay more than £100 for one, says Gerry Buddle of the London Numismatic Club.
Silver 10p-sized 2p — value £1,400
These are created when a blank 10p coin accidentally finds its way into the 2p mint.
Only two instances of this happening have been recorded in recent years, with the Royal Mint unable to confirm the likelihood of one being found again.
These rare coins are created when a blank 10p coin accidentally finds its way into the 2p mint
Their rarity means they are worth a great deal to collectors.
In May, a 2015 dated silver 2p coin was dropped into a Royal British Legion collection tin in Wiltshire and later sold at an auction for nearly £1,400.
The coin had the dimensions of a regular 10p and was silver, but had the 2p Royal Shield of Arms stamped on it.
In 2014, a silver 2p coin dated 1988 sold for more than £1,350.
New pence 2p — value £500
All 2p coins minted before 1982 should say ‘new pence’. Those minted after this date should say ‘two pence’.
An error in 1983 means there are a small number of 2p coins from that year which say ‘new pence’
But an error in 1983 means there are a small number of 2p coins from that year which say ‘new pence’.
Royal Mint does not know how many exist but today they can fetch more than £500 — though only if it is dated 1983.
Commonwealth £2 — value £20
The Northern Ireland 2002 Commonwealth Games £2 is considered the rarest £2 coin. There were just 485,500 minted.
With a total of 417 million £2 coins in circulation, they are not easy to come by and typically sell online for around £20.
The Northern Ireland 2002 Commonwealth Games £2 is considered the rarest £2 coin. There were just 485,500 minted
Peter Rabbit 50p — value £20
These coins were released at Easter this year.
The Royal Mint won’t reveal exactly how many it made, but it only put them at the tills of four attractions and National Trust properties.
It is the first time a fictional character has been printed on a coin and they are fast disappearing from circulation because collectors are hoarding them.
Some are already selling online for £20, according to website Change Checker — 40 times the coins’ face value.
Some of these Peter Rabbit 50ps are already selling online for £20, according to website Change Checker