People have been encouraged to inspect their loose change for a 50 pence piece

People have been encouraged to inspect their loose change for a 50 pence piece from 2022 that could potentially be worth over 300 times its original value

People have been encouraged to inspect their loose change for a 50 pence piece from 2022 that could potentially be worth over 300 times its original value, provided it bears a specific error.

A coin collecting aficionado has suggested that an error-version of this coin could fetch up to £155.

The expert, known on TikTok as the Coin Collecting Wizard, advised his followers to look out for the pride 50p coin. This coin was struck in 2022 to commemorate half a century of pride celebrations in the UK.

However, he warned that some individuals may overestimate its value. He shared that one follower attempted to sell him the coin for a steep £5,000.

"So let's discuss this and get these facts straight," he stated. "This coin was released in 2022 to celebrate 50 years of pride in the UK. The design is stunning.

"But here's the big question - is it valuable? Now, let's talk numbers. Around five million of these coins were put into circulation, meaning it's not rare."

He did concede that certain uncirculated versions could be more valuable, adding: "However, there were also limited edition versions released by the Royal Mint in brilliant uncirculated, silver proof, and gold proof. Those are worth real money."

The error in question can be spotted where the rainbow design intended for the tail side of the coin was mistakenly imprinted on the head side as well, surrounding the image of Queen Elizabeth II. Describing its significance, he explained: "If you find one in your change, it's still worth just 50p. But there was a rare error version of this coin found recently.

"Here you can see the error on this pride 50p. A die clash occurs when the obverse and reverse dies are damaged upon striking each other without a planchet [a blank piece of metal that is punched out from a sheet of metal to make a coin] between them."

He revealed further: "The lucky owner of this error coin auctioned it recently and the auction ended at £155 - what a result for a 50 pence piece.. So if you've got a regular one, it's not going to make you rich. But if you've got the error version, now that's a different story."

Commenting on the pride 50p design, artist Dominique Holmes was quoted on the Royal Mint website saying: "This is a significant milestone in the fight for LGBTQ+ rights and equality. Pride means so much to me and to so many people across the UK and beyond, and it's important that we take time to celebrate the progress made over the last 50 years, whilst continuing the important work for our community."