This rare £1 coin, with a printing error, has been identified by a coin expert, and its value could reach up to £500, according to the Coin Collecting Wizard on TikTok. The coin in question has a micro-engraving around the rim of the coin that indicates it was printed in 2016 instead of 2017.
- Experts recommend using a microscope or a phone camera with a zoom feature to spot the error.
- Additionally, checking the mintage number can also help determine the coin’s value.
Although the round £1 coin lost its legal tender status at midnight on October 15, 2017, it can still be deposited in some high street banks in the UK and can still be donated to charity.
The History of the £1 Coin
The round £1 coin was first introduced in 1983, and it has been in circulation for over 30 years. It was replaced in 2017 with a 12-sided coin to reduce the amount of counterfeit coins created.
The 12-sided coin, also known as the “round pound,” is a more secure and durable alternative to the traditional round £1 coin. However, it has not been widely adopted by the public, and it remains a topic of debate among coin collectors.
The value of a pound coin is exactly one pound, but some rarer versions can be worth more due to having a low mintage number or due to printing errors.
The Coin Collecting Wizard’s Tip
The Coin Collecting Wizard shared a video on TikTok warning Brits to look out for this £1 coin that can be worth up to £500.
