Certain coins minted before a specific year contain real silver
An expert explained that certain old coins could be valuable(Image: Getty)
Brits have been encouraged to search through any old coins they might have at home, as some could be worth a “small fortune”. According to one specialist, particular coins dating before a certain year can prove especially valuable.
In a video shared on TikTok, a specialist known as the Coin Collecting Wizard disclosed that some historic shillings were manufactured using real silver. This is true for any shillings produced before 1946. A shilling is a former British coin and monetary unit that was valued at 12 old pence until 1971. It remained in circulation until 1990, when it represented five new pence.
Speaking to his followers, the specialist said: “I bet you didn’t know some old UK shillings have real silver in them, making them worth money. The British shilling, abbreviated ‘1s’, was a unit of currency and a denomination of sterling coinage worth 1/20 of £1, or 12 pence.
“It was first minted in the reign of Henry VII as the testoon, and became known as the shilling sometime in the mid-sixteenth century. It circulated until 1990.”
He continued: “The word ‘bob’ was sometimes used for a monetary value of several shillings, e.g., 10 bob note.
“Following decimalisation on 15th of February 1971, the coin had a value of five new pence.”
For those who find an older silver shilling, it could certainly be worthwhile trying to sell. He added: “But did you know the shilling was made from a certain amount of silver from its introduction in or around 1503 until 1946?
“As you are probably aware, silver is always going up in price, and these shilling coins are also going up in value due to their silver content. So, do you have any shillings before 1946? “If you do, you are holding actual silver, and it could be worth a small fortune.”