The extremely rare £1 coin is turning heads among collectors online after an expert revealed what you need to look out for to guarantee you strike gold yourself…
It’s no secret some rare coins are becoming more and more popular among collectors. Previously, the ‘rarest penny coin in UK history’ caused a meltdown online after holding a mega value of £72,000.
Then a rare 20p coin with a problem became known to people, while others were warned over a penny selling for £5million. Now it’s time to turn your attention to an extremely rare one pound coin which sold for £2,500. Instagram user @CoinCollectingWizard, who boasts 30,600 followers, discussed the 2016 coin.
In a post, he said: “This is a UK £1 and there is a rare dual-dated error worth a lot of money, here is what you need to look out for.
“You’re looking for a 2016 obverse dated coin with 2017 micro-engraving on the reverse so small you might need a microscope.”
He continued: “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 so make sure to check all your £1 coins. This is an easy error to miss as it’s so small.”
So why is everyone going wild for this coin?
Firstly, this piece marked the final production of the old round £1 coin. It was essentially replaced by the new 12-sided pound coin which entered UK circulation a year later in 2017.
As there were many minted in 2016 to prepare for the 2017 launch, some coins inevitably featured a rare minting error where the micro-engraved date on the rim was incorrect.
This specific error, known as the dual-dated coin, is highly sought after by collectors.
It features the fifth portrait of Queen Elizabeth II and was designed by Jody Clark, with the Latin inscription “ELIZABETH II · DEI · GRA · REG · FID · DEF ·” and the year “2016”.
While it might be extremely rare to spot in your change, it’s still worth looking as it holds a huge value.
