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Cryptocurrency News Articles
New £1 coin error could be worth thousands, TikTok user @coincollectingwizard explains
Oct 07, 2024 at 04:58 pm
The £1 piece has been spotted by online coin enthusiasts after they entered circulation in August. Three million of the “bee” £1 coins have made their way into tills and into our pockets since then. However, a version with an error was also entered into circulation, and experts think it could be worth thousands.
A new £1 coin error has been spotted by TikTok users, and experts think it could be worth thousands.
The £1 piece has been spotted by online coin enthusiasts after they entered circulation in August.
Three million of the “bee” £1 coins have made their way into tills and into our pockets since then.
However, a version with an error was also entered into circulation.
TikTok user @coincollectingwizard highlighted the error in a video.
They explained: “All new £1 coins are made with two metal rings.
"The outside is made from nickel brass while the inside is nickel-played brass alloy.
"But the rare £1 coin that has been found recently is all one colour."
The new £1 coin, which features the Kew Gardens design, was first spotted in August.
The coin is part of a new family of coins, which also includes a 50p and a £2 coin.
The coins are designed to be more secure and difficult to counterfeit.
However, it seems that one error coin has slipped through the net.
The coin, which was spotted by a TikTok user, is all one colour instead of having two different coloured rings.
Experts believe that the error coin could be worth thousands of pounds.
Speaking to The Sun, coin expert Paul Reynolds said: “This is a very rare error and it could be worth a lot of money.
“An error 50p from 2011 recently sold for £5,000 at auction.”
If you think you might have an error £1 coin, it is important to get it valued by an expert before selling it.
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