A royal blue Peanut the elephant Beanie Baby sold for $599 plus $12.99 shipping on November 20, 2012. The auction attracted two bids. The Beanie was museum quality with a creased 3rd generation heart tag. Peggy Gallagher had authenticated the Beanie.
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 and a 1st generation tush 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 was 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+.
No wonder why this elephant is so blue!