Greek coins have received a surprise flip from a Random coin-flip auction, with an average price of over $400,000 for one coin.
The new coin, which features a small Greek letter on the obverse, was listed on eBay with a starting bid of $5,500, but the auction house announced today that it was listed for sale with a final bid of just under $50,000.
The auction house also confirmed the auction will go ahead as planned, with the coin expected to be in circulation by early January.
The new Greek coin has an average weight of 9.7 grams, the auctionhouse said.
The coin’s value comes at a time when Greece is trying to revive its economy after years of recession.
Its recovery is dependent on a massive bailout package, which is expected to hit the country with a 1.8 percent increase in tax revenue, while Greece’s economy is projected to grow by just 0.1 percent.
It will be the first coin in the country’s history to be minted by a random coin flip.
The latest news about Greek coins can be found here: http://www.abc.net.au/news/2017-02-04/greece-coin-flips-brief-ban-follows-bankruptcy/8282301 The Associated Press contributed to this report.