Tiny clue on edge of £1 coin that makes it worth 2500 times its face value – do you have one lurking in your change? --[Reported by Umva mag]

A TINY clue on the edge of a £1 coin could make it worth 2500 times its face value. A coin enthusiast has revealed a crucial detail to watch out for that could earn you some “mega money”. The video explainer has racked up 39,100 views Sharing a clip with his 134,600 followers on TikTok, the Coin Collector UK said: “There are a few errors that can be found on your £1 coins. “The main ones you want to be looking for is the dual dated £1 coin.” “The main ones you want to be looking for is the dual dated £1 coin.” The TikToker demonstrated what to look for using a normal £1 coin from 2016. He continued: “So you can see, when we flip this over on the obverse side this is a 2016 version of the £1 coin. “However some were made with the micro-lettering on the side with the date 2017. “It is an extremely rare error. “We only know of one that’s actually being sold to a buyer in Spain, and this sold for £2,500.” He advised using a microscope to check for this error as it is “extremely fine”. He insisted “it’s definitely worth checking” if you have a 2016 dated coin. Just look on the Queen‘s head side for the micro-lettering and on the reverse side for the date 2017, he added. Lots of fans jumped to the comment section to share their thoughts. One said: “Will look out for this.” While a second person said: “I have 4 of them.” Meanwhile a third asked: “I got this coin and please tell me where can I sell it.”To which the TikToker replied: “Auction.” How to spot if your coin is rare The most valuable and rare coins are usually the ones with low mintage numbers or an error. A mintage number relates to how many of a certain coin were made, so the lower the number, the rarer and, generally, the more valuable a coin is. Meanwhile, error coins are pieces that were incorrectly struck during the manufacturing process. How to spot valuable items COMMENTS by Consumer Editor, Alice Grahns: It’s easy to check if items in your attic are valuable. As a first step, go on eBay to check what other similar pieces, if not the same, have sold for recently. Simply search for your item, filter by “sold listings” and toggle by the highest value. This will give you an idea of how much others are willing to pay for it. The method can be used for everything ranging from rare coins and notes to stamps, old toys, books and vinyl records – just to mention a few examples. For coins, online tools from change experts like Coin Hunter are also helpful to see how much it could be worth. Plus, you can refer to Change Checker’s latest scarcity index update to see which coins are topping the charts. For especially valuable items, you may want to enlist the help of experts or auction houses. Do your research first though and be aware of any fees for evaluating your stuff. As a rule of thumb, rarity and condition are key factors in determining the value of any item. You’re never guaranteed to make a mint, however. The ultra-rare “lines over face” 50p error coin is one such coin, which has been known to sell for £1,500 in the past. Meanwhile, others with little-known designs have been known to sell for up to £3,000. How to sell a rare coin There are three ways you can sell rare coins – on eBay, Facebook, or in an auction. If you’re selling on Facebook, there are risks attached. Some sellers have previously been targeted by scammers who say they want to buy a rare note or coin and ask for money up front to pay for a courier to pick it up. But the courier is never actually sent and you’re left out of pocket. Rather than doing this, it’s always best to meet a Facebook seller in person when buying or selling a rare note or coin. Ensure it’s a public meeting spot that’s in a well-lit area and if you can, avoid using payment links. Next, you can sell at auction, which is generally the safest option. You can organise this with The Royal Mint’s Collectors Service. It has a team of experts who can help you authenticate and value your coin. You can get in touch via email and a member of the valuation team will get back to you. You will be charged for the service though – the cost varies depending on the size of your collection. You can also sell rare coins on eBay. But always bear in mind, you will only make what the buyer is willing to pay at that time.

Oct 8, 2024 - 16:55

Tiny clue on edge of £1 coin that makes it worth 2500 times its face value – do you have one lurking in your change? --[Reported by Umva mag]

A TINY clue on the edge of a £1 coin could make it worth 2500 times its face value.

A coin enthusiast has revealed a crucial detail to watch out for that could earn you some “mega money”.

File photo dated 26/01/18 of one pound coins. Pay inequalities at the country's biggest companies have remained constant this year despite the cost-of-living crisis, according to a new report. The difference in median pay between chief executives and other employees in the FTSE 350 was 57:1 last year, slightly up from 56:1 in 2021, latest figures showed. Across the larger FTSE 100 companies, the gaps were wider, with a median chief executive/employee pay ratio of 80:1, said the High Pay Centre. Issue date: Monday December 18, 2023. PA Photo. See PA story INDUSTRY Pay. Photo credit should read: Dominic Lipinski/PA Wire — The video explainer has racked up 39,100 views

Sharing a clip with his 134,600 followers on TikTok, the Coin Collector UK said: “There are a few errors that can be found on your £1 coins.

“The main ones you want to be looking for is the dual dated £1 coin.”

The TikToker demonstrated what to look for using a normal £1 coin from 2016.

He continued: “So you can see, when we flip this over on the obverse side this is a 2016 version of the £1 coin.

“However some were made with the micro-lettering on the side with the date 2017.

“It is an extremely rare error.

“We only know of one that’s actually being sold to a buyer in Spain, and this sold for £2,500.”

He advised using a microscope to check for this error as it is “extremely fine”.

He insisted “it’s definitely worth checking” if you have a 2016 dated coin.

Just look on the Queen‘s head side for the micro-lettering and on the reverse side for the date 2017, he added.

Lots of fans jumped to the comment section to share their thoughts.

One said: “Will look out for this.”

While a second person said: “I have 4 of them.”

Meanwhile a third asked: “I got this coin and please tell me where can I sell it.”To which the TikToker replied: “Auction.”

How to spot if your coin is rare

The most valuable and rare coins are usually the ones with low mintage numbers or an error.

A mintage number relates to how many of a certain coin were made, so the lower the number, the rarer and, generally, the more valuable a coin is.

Meanwhile, error coins are pieces that were incorrectly struck during the manufacturing process.

How to spot valuable items

COMMENTS by Consumer Editor, Alice Grahns:

It’s easy to check if items in your attic are valuable.

As a first step, go on eBay to check what other similar pieces, if not the same, have sold for recently.

Simply search for your item, filter by “sold listings” and toggle by the highest value.

This will give you an idea of how much others are willing to pay for it.

The method can be used for everything ranging from rare coins and notes to stamps, old toys, books and vinyl records – just to mention a few examples.

For coins, online tools from change experts like Coin Hunter are also helpful to see how much it could be worth.

Plus, you can refer to Change Checker’s latest scarcity index update to see which coins are topping the charts.

For especially valuable items, you may want to enlist the help of experts or auction houses.

Do your research first though and be aware of any fees for evaluating your stuff.

As a rule of thumb, rarity and condition are key factors in determining the value of any item.

You’re never guaranteed to make a mint, however.

The ultra-rare “lines over face” 50p error coin is one such coin, which has been known to sell for £1,500 in the past.

Meanwhile, others with little-known designs have been known to sell for up to £3,000.

How to sell a rare coin

There are three ways you can sell rare coins – on eBay, Facebook, or in an auction.

If you’re selling on Facebook, there are risks attached.

Some sellers have previously been targeted by scammers who say they want to buy a rare note or coin and ask for money up front to pay for a courier to pick it up.

But the courier is never actually sent and you’re left out of pocket.

Rather than doing this, it’s always best to meet a Facebook seller in person when buying or selling a rare note or coin.

Ensure it’s a public meeting spot that’s in a well-lit area and if you can, avoid using payment links.

Next, you can sell at auction, which is generally the safest option.

You can organise this with The Royal Mint’s Collectors Service.

It has a team of experts who can help you authenticate and value your coin.

You can get in touch via email and a member of the valuation team will get back to you.

You will be charged for the service though – the cost varies depending on the size of your collection.

You can also sell rare coins on eBay.

But always bear in mind, you will only make what the buyer is willing to pay at that time.

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