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I am seeing multiple listings on eBay saying this coin is rare and worth up to $500. Are these people just nuts?

I'll happily take $500 for mine, or will trade it for a 1916 D mercury dime!

It's the undated variety, a mint mistake.

https://www.youtube.com/watch?v=HmhXWooOExE

This vid was from 12 years ago so the asking price has probably gone up.

Thanks, yeah I also saw that vid. I think the 2008 is the one missing the date.

I wondered if the value went up because the queen passed.

Ah yes. My mistake.

Here's one seller's "explanation" of why he's selling a 1982 20p for £200:

FAQ
1) Why is this coin so expensive?

Answer.
Rarity. Rare is defined as "(of a thing) not found in large numbers and so of interest or value."
Rare can also be defined as "unusually good or remarkable."

Who defines what is "unusually good or remarkable"? Who defines what are "large numbers"? Who determines the "interest or value"?
Do you think you can define what is rare according to your own beliefs?

2) But there are millions of these coins in circulation, so why so high?

Answer.
Is the 'one' painting of Mona Lisa considered rare? Or is '21,000,000' Bitcoin considered rare enough for its price to be $60,000 per coin? Is one rare or 21 million rare? You decide.

Umm...what?

I pulled one of these from a bank roll years ago. Kept it for awhile, and then sold it for 25 cents in a 2 x 2. It was NOT the rare version.