A rare Paddington Bear 50p coin has been sold for £1,500 on eBay.

Released by the Royal Mint in 2019, the coin features the iconic bear standing outside the Tower of London.

Only one bid was made on its listing on eBay, despite it being the 14th rarest 50p coin in the UK, with only 5,001,000 produced.

Four Paddington Bear 50p coins were produced, with two designs, one showing Paddington outside Buckingham Palace and the other showing him waving a Union Jack, released in 2018.

Western Telegraph:

In 2019, the second two designs were produced, showing Paddington outside the Tower of London and tipping his hat outside St Paul’s Cathedral.

At the time of their release, the Royal Mint said the coins would be “highly collectable”.

And that proved correct, as one buyer forked out £1,500 for Paddington at the Tower of London.

What makes a coin valuable?

The 50 pence piece has become the most valued and collected coin in the UK, with many collectable designs appearing on its heptagonal canvas.

Its 27.5mm diameter makes it the largest of any British coin, and allows space for decorative pictures. It has often been used to celebrate big events over the past 50 years of British history.

The rarest coins tend to be of the greatest value, with the mintage (number of coins with each design made) being the fundamental attraction for collectors.

Along with the design, other aspects of the coin which increase value are the condition of the coin and whether it has an error in its design.

The way in which it is sold can also determine the coin’s value - while some coin collectors will bid vast amounts of money on ebay or at auction, others opt for more robust valuations by selling via a coin dealer.