A rare £2 coin from 1994 has sold for nearly £115 on eBay following a three-day auction.

The coin sold for exactly £114.75 on November 8, a price which is 57 times the value of its actual denomination.

Its design shows the Mayflower ship on one side, along with The Queen on the other.

Coin experts at Change Checker dubbed it "the coin that never was," as it was never officially released into circulation, The Sun reports.

Instead, it was only made to be a "practice-like" design instead, with copies having passed through hands and a hiked value having been placed on many of these coins.

It wasn't released to the public as it was the very first version of the modern bi-metallic £2 coin we see today, that was struck back in 1994.

The coin was issued as a trial piece before more familiar coins that we know were produced a few years later in 1997 – meaning the 1994 coin was never actually legal tender.

According to Change Checker, there were just over 4,500 presentation packs issued for commemorative value.

You could also make a pretty penny if you happen to have a commemorative style coin, which will often sell in the hundreds.

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Your best bet however is a rare coin with a low mintage if you’re looking to make some money.

On the opposite end, rare error coins can also prove valuable due to their faults, with the simple mistakes made in the minting process increasing their value.

In other news, last month saw a rare Kew Gardens coin go on sale for £220 on eBay.

It entered circulation back in 2009 with around 210,000 coins minted and then released to the public, making it one of the most popular coins to collect as it features the infamous Chinese Pagoda.

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