A tiny but crucial minting mistake on £1 coins could make them extremely valuable
An expert shared details of a rare £1 coin worth far more than its face value(Image: Getty)
A highly coveted £1 coin could be valued at a small fortune if it contains a small error. This specific piece has previously sold for as much as £2,500.
Its substantial worth depends on a minuscule yet critical minting error. In a TikTok clip, an expert known as the Coin Collecting Wizard presented his audience with this rare £1 coin from 2016.
The new 12-sided £1 coins formally commenced circulation in April 2017, although several had already been produced in 2016 in anticipation of the release. A limited quantity, however, were struck with a microscopic error along the edge. This fault means the primary date alongside the Queen’s portrait displays “2016”, while a tiny inscription on the outer edge displays “2017”.
The expert estimated the coin’s worth at roughly £500, but recognised that at least one specimen has fetched five times that amount. 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.”
Therefore, ensure you search through your 2016 £1 coins and potentially earn some straightforward cash.
Experts at Change Checker support this advice, commenting: “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.”
The specialists noted that one such coin sold for £2,500 to a purchaser in Spain in 2017. However, they indicated that an identical coin, in mint condition, would generally be worth approximately £300 to £500.