Your 'old, worn-out coin' could be worth £200,000

A rare coin expert says Brits should check any old coins they have lying around, as they could be worth anything from a few hundred pounds to £200K

An expert in rare coins has warned Brits to check any old coins they have lying around, as they could be worth anything from a few hundred pounds to £200K.

The money expert, who uses the handle Coincollectingwizard on Instagram, was referring specifically to half-pennies.

It is thought the coin initially started life in the 13th Century, when pennies were cut into halves and quarters so that a halfpenny was literally half a penny and a farthing a quarter or ‘fourthing’.

The half-penny endured until it was eventually phased out in late 1984, and was known as 'Britain's least loved coin', with people commonly said 'not to bother to bend down in the street to pick it up if they dropped one'.

However, those who do spot one of the coins in good condition could be in for a pleasant surprise.

Coincollectingwizard said: "Do you have an old half-penny coin worth £200,000?

"Check your old coins. Think your old half-penny is worth a fortune? Well, most aren't, but if you have one from the 1800s, you might be in luck.

"Half-pennies from the 1900s were sadly made in huge numbers so most aren't really worth anything, unless they're in perfect condition or have errors. But if you find a half-penny from the 1800s, things start to get interesting. Some of the rarest include the 1860 toothed border half-penny, a rare variety that can sell for hundreds.

"The 1799 half-penny, one of the first British copper coins - a good one can fetch serious money.

"Here's the catch: condition is everything. A worn-out coin might only be worth a few pounds, but a well-preserved one is worth big money, so check your old coins. If you find a half-penny from the 1800s, it might be worth something."

Despite decimalisation in 1971, the half-penny somehow survived in the UK for another 13 years before then-Chancellor Nigel Lawson announced the coin's demise in a written Commons answer in 1984.

The Royal Mint stopped making them at the end of February that year.

The coin's fate was sealed when it became more expensive to make than its face value. The halfpenny coin remains the last denomination to be withdrawn, although other coins have since been redesigned.