A COIN expert has revealed the exact tiny detail to spot on your £1 that could make it worth 60 times the face value at auction.
The new £1 coin was released in 2017 to replace the old “round pound” that was previously used.
But according to TikTok star The Coin Collecting Wizard some of these coins were minted in 2016 making them “extra special”.
Most 2016 coins look the same as the ones produced a year later, but the social media wizz said punters should look out for a small detail which can increase its value.
Speaking to followers, they said: “This mark was added only for special sets, and only a limited number of coins have it.
“This tiny crosslet cross can be found just below the design near the rim of the coin. It’s easy to miss, but collectors are willing to pay big money for it.”
They went on to add that if your 2016 coin is missing the mark then it will likely only be worth face value.
But if it features the mark then it could be worth up to £60, which is six times greater.
And that is not the only rare coin that can be worth a small fortune.
The Rainbow Pride 50p could be worth up to £155 if it features one small detail that could make all the difference.
The coin was released by the Royal Mint in 2022 to celebrate 50 years of the UK Pride movement.
It features the Pride progression flag and is inscribed with the words “Protest, Visibility, Unity, and Equality” in rainbow colours.
On the other side is Queen Elizabeth II, as the coin was minted before the monarch’s death.
However, some feature a minting error, making them highly sought after by collectors.
The rainbow design was mistakenly imprinted on the head of the coin, making it rare.
How to spot rare coins and banknotes
Rare coins and notes hiding down the back of your sofa could sell for hundreds of pounds.
If you are lucky enough to find a rare £10 note you might be able to sell it for multiple times its face value.
You can spot rare notes by keeping an eye out for the serial numbers.
These numbers can be found on the side with the Monarch’s face, just under the value £10 in the corner of the note.
Also if you have a serial number on your note that is quite quirky you could cash in thousands.
For example, one seller bagged £3,600 after spotting a specific serial number relating to the year Jane Austen was born on one of their notes.
You can check if your notes are worth anything on eBay, just tick “completed and sold items” and filter by the highest value.
It will give you an idea of what people are willing to pay for some notes.
But do bear in mind that yours is only worth what someone else is willing to pay for it.
This is also the case for coins, you can determine how rare your coin is by looking a the latest scarcity index.
The next step is to take a look at what has been recently sold on eBay.
Experts from Change Checker recommend looking at “sold listings” to be sure that the coin has sold for the specified amount rather than just been listed.
People can list things for any price they like, but it doesn’t mean it will sell for that amount.
We explain further how you can find out if you have a rare coin worth thousands sitting around the house.
What are the most rare and valuable coins?
- Five rarest coins – do you have one?
- The 13 most valuable £2 coins in circulation
- How valuable are the rarest £1 coins?
- Most rare and valuable 50p coins in circulation
- Rare and most valuable 20p coins that could be worth up to £750
- Rarest 10p coins in circulation
- Rare 2p coins revealed
- How to check if you have a rare and valuable banknote
