A specific error makes this coin highly sought-after
This coin must feature a specific error to be particularly valuable(Image: Getty)
Britons are being encouraged to watch out for an exceptionally valuable £1 coin currently in circulation. This particular piece has previously fetched £2,500 at sale.
However, it must contain a minuscule error to command such value. In footage shared on social media platform TikTok, a specialist known as the Coin Collecting Wizard presented his audience with this scarce £1 coin dated 2016.
The modern 12-sided £1 coins began circulating throughout the UK in April 2017, though a quantity of coins were also produced in 2016 in advance. However, some were minted with a minute error on the rim.
The mistake means that the primary date on the coin, beside the Queen’s portrait, displays “2016” whilst a tiny inscription along its outer edge reads “2017”.
The specialist valued the coin at approximately £500 but noted that one specimen of this coin has previously sold for five times that figure. He stated: “There is a rare £1 coin that you must search for worth £500.
“Here is what you need to look out for. You’re looking for a 2016 obverse [head side] dated coin with 2017 micro-engraving on the reverse [tail side].
“The micro-engraving is so small you may need a microscope. We understand that at least one example was sold for £2,500 to a buyer in Spain in 2017. The error is particularly difficult to spot due to the size of the micro-engraving, so be sure to keep an eye out for this one.
“It’s worth checking any 2016 coins as it is one of the hardest errors to spot. Remember you are looking for a 2016 obverse-dated coin with 2017 micro engraving on the reverse. So make sure to check all your 2016 £1 coins and make yourself some quick cash.”
Specialists at Change Checker supported his guidance. They stated: “Firstly, although both 2016 and 2017 obverse-dated £1 coins entered circulation in April 2017, the die-error mix-up appears to have only occurred on a limited number of coins with a 2016 date on the Queen’s head side. So it’s worth checking any 2016 coins.
“You’ll need to look just inside the rim of the design-side of the coin, where you will see some tiny writing. You’ll almost certainly need a microscope to properly see the writing, which should reveal the date.”
According to them, an example of this coin was sold for £2,500 to a buyer in Spain in 2017. However, they estimated that the value of this coin, in excellent condition, is between £300 and £500.