A rare £1 coin from 2016 features a valuable error
An expert shared details of a valuable £1 coin to look for(Image: Getty)
Brits are being advised to check for a “micro engraving” on a particular coin that could be worth as much as £500. This £1 piece from 2016 contains a minute error that may prove difficult to identify.
The new 12-sided £1 coins began circulating in the UK during April 2017, though a quantity of coins had been produced in 2016 beforehand. Nevertheless, some were minted with a small error on the rim.
In a video shared on social media platform TikTok, an expert known as the Coin Collecting Wizard, demonstrated how to identify this valuable coin. “Looking in my savings bottle for the rare £1 coin worth £500.
“Here’s what you need to look for.” The error results in the main date on the coin, beside the Queen’s head, displaying “2016” while a minuscule inscription on the outer rim reads “2017”.
The expert added: “These pound coins bear the date 2016 on the front. But here’s where it gets interesting.
“Under magnification, the micro engraved security feature around the edge, shows the year 2017. This mix-up between the visible date and the micro engraving was never intended for public circulation, making it an ultra rare and valuable find.”
He stated: “While most new £1 coins are only worth face value. This rare misdated version has reportedly sold for as much as £500 or more.
“So if you come across a pound coin, dated 2016, take a closer look because that tiny engraving might just mean a big payday for you. So get searching for those 2016 pound coins as I guarantee not many people check that micro engraving around the rim.
“It’s always worthwhile checking your big bottle of coins. Good luck.” The mistake on this coin has been verified by the Royal Mint.
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, one example of this coin fetched £2,500 from a Spanish buyer in 2017. Nevertheless, they estimate that the value of this coin, in pristine condition, sits between £300 and £500.