Warning issued to coin collectors as Brexit 50p coin is being sold for £25,000 online - when it's only worth 50p

Posting on TikTok, user @CoinCollectingWizard, who boasts 171,600 followers on the platform, explained how one version online is selling for £25,000

Coin collectors are being warned over a rare Brexit 50p coin which is being sold online for £25,000 - when it shouldn't be worth more than 50p.

The iconic piece was struck to mark the UK's planned withdrawn from the European Union on October 31, 2019.

But the minting of the coins was paused in late October 2019 after doubts the UK would leave the EU on that date and it was later announced the coins would be recycled as the UK didn't leave on the planned date.

The coins were still produced but would enter circulation once it finally happened and now an expert has issued an important warning.

Posting on TikTok, user @CoinCollectingWizard, who boasts 171,600 followers on the platform, explained how one version is selling for £25,000 online.

He said: "£25,000 for a 50p? Stop what you are doing right now...

"Have you ever seen this coin worth £25,000? This is the Brexit 50p coin from 2020 with a mintage of over 5million, so why would it be worth £25,000 you ask?"

According to the TikTok user, this piece wouldn't sell for that amount.

It's likely you had the coin pop up in your change and over on eBay, sellers are whacking hefty price tags on the coin.

The TikTok user added: "But this is where you really need to do your own research as anyone can put those ridiculous prices up.

"And I promise you this 50p is worth just 50p. There is, however, a very rare version of this coin where the date doesn't say the January 31, 2020, but this is very unlikely to ever be found so don't fall for these crazy prices."

He was talking about the original Brexit 50p coin which was struck with the original date of October 31, 2019.

But it's quite hard to find the coin, although if you did, it's worth an eye-watering sum.

Since it was shared on TikTok, it garnered 140 likes and comments.

One joked: "Got two of these coins," while another made a similar statement.

Do you have one of these coins? Let us know in the comments section below...

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