Coin collecting is a well-loved hobby that can sometimes yield surprising profits, and in the UK, one particular £1 coin has recently caught the attention of collectors. Thanks to a rare minting error, some £1 coins are being sold for as much as £2,500 at auctions. Many people may unknowingly possess one of these rare coins, hidden away in their wallets, purses, or coin jars.
These coins have become highly sought after due to a specific production mistake that occurred during minting. Coins with this error are valued for their rarity and the unique features they display, which appeal to collectors. This news has encouraged many to take a closer look at their £1 coins, hoping they may have stumbled upon a valuable gem.
What Makes This Coin Special?
The key feature that makes these £1 coins worth so much more than face value is a minting error involving mismatched dates on the coin. Typically, the year printed on the obverse (the side with the monarch’s image) matches the micro-engraved date on the rim. However, in this rare case, the two dates don’t align, making these coins particularly valuable.
According to “Coin Collector UK,” a coin expert who shares advice on TikTok, the most sought-after coin is one with the year 2016 on the obverse side and 2017 in the micro-lettering around the rim. These coins have generated significant interest among collectors, who are eager to add them to their collections.
What to Look For?
Identifying these rare £1 coins can be a bit tricky because the micro-engraved date on the rim is very small and hard to spot with the naked eye. To help collectors spot this error, the expert recommends the following tips:
- Coin Type: Look for the 12-sided £1 coin, which was introduced in 2017.
- Date Mismatch: The coin should display 2016 next to the Queen’s head and 2017 in the micro-lettering around the edge.
- Use a Magnifying Tool: The micro-engraved date is very fine, so using a magnifying glass or microscope will make it easier to spot the error.
The expert demonstrated this error in a TikTok video, comparing a regular 2016 £1 coin to the rare coin with the 2017 date on its rim. While most 2016 £1 coins are error-free, a limited number were minted with this discrepancy.
Why Are These Coins Valuable?
These misprinted coins are highly coveted by collectors for a few reasons. First, the error is rare, meaning there are only a small number of these coins in circulation. The mismatch of dates adds to the coin’s uniqueness, making it more valuable to collectors who seek rare and historically significant pieces.
Additionally, the 2016-2017 date error is even more intriguing because it involves the newly introduced 12-sided £1 coin, which replaced the old round design in 2017. This makes the error particularly notable, adding to its appeal as a collectible item. The dual date error enhances its value, making it a prized find for any collector.
How to Check for the Error?
If you have any £1 coins, especially those from 2016, it’s worth taking a closer look to see if you have one of these rare coins. Here’s a simple guide to help you identify the error:
- Examine the Date: Check the obverse side (the side with the Queen’s image) for the year 2016.
- Inspect the Rim: Use a magnifying glass or microscope to examine the edge of the coin for the micro-engraved year 2017.
- Compare the Dates: If the dates on the obverse side and the rim are different, you may have a rare coin with the minting error.
- Confirm with Experts: If you believe you’ve found one of these rare coins, consider reaching out to a coin expert or professional appraiser to verify its authenticity and value.
By carefully inspecting your coins, you might just discover a hidden treasure that could be worth a significant amount of money.
