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Coin collectors have been warned about several online listings that have five-figure price tags when they're only actually worth a fraction of that.

People have been putting up different $1 coins from 1996 and claiming they are super rare because of a "defect".

One coin was listed on eBay for $10,500, while another had a hefty $20,000 asking price.

But Mark Nemtsas from The Purple Penny told Yahoo Finance that you should steer clear at all costs.

"It's just a slightly damaged circulation $1 coin and not an error," he said.

A Yahoo Finance investigation earlier this year exposed the "darker side" of coin collecting, revealing numerous listings online with wildly over-inflated prices.

The listings, which were quickly debunked by experts, included a 20-cent coin that was meant to be worth $100, a $2 coin that was listed for $15,000 and a $1 coin that was meant to be worth $20,000.

Coin collectors are being warned about several online listings that have five-figure price tags when they're only actually worth a fraction of that. (iStock)

The coins are meant to be rare because of a 'defect', but experts say they're just damaged. (iStock)

The coins are meant to be rare because of a 'defect', but experts say they're just damaged. (iStock)

The listings were all for different $1 coins from 1996, which are meant to be valuable because they were the first $1 coins to be released into circulation.

However, Nemtsas said the coins that are being listed for thousands of dollars are just damaged and not actually rare at all.

"There were about 100 million of these coins struck in 1996, so they're not particularly rare," he said.

"They're also not an error, they're just a slightly damaged circulation $1 coin."

If you're ever unsure about the value of a coin, Nemtsas recommends checking with an expert or using a coin price guide to get an accurate estimate.

"And if something seems too good to be true, it probably is," he said.

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