Here’s exactly what to look for
Brits have been urged to look out for a “micro engraving” on a coin making worth up to £500. This £1 piece from 2016 features a tiny error that might be hard to spot.
The new 12-sided £1 coins entered circulation in the UK in April 2017, although a number of coins had also been minted in 2016 in preparation. However, some were struck with a tiny error along the rim.
In a video uploaded to social media platform TikTok, an expert known as the Coin Collecting Wizard, explained how to find this valuable coin. “Looking in my savings bottle for the rare £1 coin worth £500,” he said.
“Here’s what you need to look for.” The error means that the main date of the coin, by the Queen’s head will say “2016” while a tiny inscription on its outer rim will say “2017”.
The expert continued: “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 said: “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 error on this coin has been confirmed by the Royal Mint.
Experts at Change Checker backed up his advice. They said: “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, an example of this coin was sold for £2,500 to a buyer in Spain in 2017. However, they estimated that the value of this coin, in excellent condition, is between £300 and £500.
