The error is particularly difficult to spot, an expert said
Shoppers are being encouraged to scrutinise their £1 coins for a minuscule error that could potentially increase its value to £2,500. However, spotting this lucrative mistake can be “difficult to spot”.
In a video shared on TikTok, a coin enthusiast known as the Coin Collecting Wizard outlined what to look for, explaining that the coin in question will display two different dates. He estimated the coin’s worth at £500 but disclosed that one such coin had previously fetched £2,500.
The expert advised: “Go on take a guess, there is a rare £1 coin that you must search for worth £500. Here is what you need to look out for.”
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This error coin came into existence when the new 12-sided £1 coins were introduced in the UK in April 2017. Some coins had been minted in 2016 in anticipation of this change, but a few bore a tiny mistake along their edge.
This error results in the main date of the coin, next to the Queen’s head, reading “2016”, while a small inscription on its outer rim says “2017”. He elaborated: “You’re looking for a 2016 obverse dated coin with 2017 micro engraving on the reverse, the micro engraving is so small.”, reports the Daily Record.
“You may need a microscope. We understand that at least one example was sold for £2,500 pounds 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 2016 £1 coins and make yourself some quick cash.”
In an earlier video, the specialist explained: “This subtle but significant error went unnoticed by many making these coins particularly rare. Because the micro-engraving is so small and not easily visible without close inspection, these coins are prized discoveries for collectors and can fetch a premium price reflecting both their rarity and the intrigue of the minting mistake.”
The Royal Mint has verified the mistake on this particular coin. Specialists at Change Checker supported his guidance.
They explained: “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.”
They revealed that one specimen of this coin sold for £2,500 to a purchaser in Spain in 2017.
Nevertheless, they calculated that the worth of this coin, in pristine condition, ranges between £300 and £500.
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