Peanut the elephant was issued on June 3, 1995 and retired on May 1, 1998. However, the royal blue version was only produced from June 3, 1995 to October 1995. Peanut the royal blue elephant was only produced with a 3rd generation heart tag. It is believed that only 2,000 of the royal blue version were produced making it one of the rarest Beanie Babies ever made. According to Checkerbee's Summer 2000 Value Guide for Ty Beanie Babies, a third generation Peanut the royal blue elephant with mint tags is valued at $4,400. In 1997, Les and Sue Fox, authors of The Beanie Baby Handbook, estimated the value of Peanut the royal blue version at $1,500 and predicted that it could be worth $5,000+.
In early 2011, this Beanie sold for $995 on eBay. Its current value will shock many collectors.