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​Check Your Change LADs, Your £1 Coin Could Be Worth £250

​Check Your Change LADs, Your £1 Coin Could Be Worth £250

Brace yourself LADs, the new £1 coin is coming.

It was officially brought into circulation today and just like we saw with the new fiver last year, there's likely to be a scramble for the 'most valuable' coins.

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A billion of them already struck and ready for use, but a handful are apparently worth a lot more than their face value.

Here's everything you need to know about the coin...

Credit: Royal Mint

Unlike the £5 notes, the coins do not feature serial numbers - making it harder to know whether they're worth more than just a quid.

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However, money expert Alex Cassidy, from GoCompare's Coining It In, has weighed in on which coins would make you quids in.

"As with the current £2 coins, the 2017 £1 coin is bi-metallic - in this case an outer 'gold' coloured nickel-brass band with an inner 'silver' coloured cupro-nickel disc," Alex told the Mirror.

"Because of this, any potential die errors during production, which occurs when the dies have become misaligned, could be worth a lot of money.

Credit: PA Images

"Punters should pay attention to both the floral crown on the reverse side for any rotations, as well as the Queen's head, which should sit directly above the new bevelled edge."

More than 200,000 of the new coins were sent out to retailers last year for 'testing' although classed as 'trial coins' - and not legitimate tender - they're now being sold for hundreds of pounds on eBay.

A handful of the new £1 coins were wrongly dated '2016' - and already being listed on eBay for as much as £250.

The new 12-side pound coin is the most technologically advanced coin in the world, featuring a security-proof hologram, which flickers between a '£' symbol to the number '1', under different lights.

It replaces the previous £1 coin that has been in circulation since 1983, during that time a total of 2.2 billion £1 coins were struck for circulation.

There will also be new commemorative coins released later this year, with first batch celebrating the achievements of Jane Austen, Sir Isaac Newton and The Royal Flying Corps.

"2017 is expected to be a good year for collectors, with the trend of 50p collectible limited release coins continuing into the new £1 coins," Alex added. "That's the main thing to look out for in the near future, because the first run of those collectibles will be huge."

It is expected that those coins will also be worth more than their face value - meaning this could be a good year for anybody looking to make a profit on their change.

Featured Image Credit: PA Images

Topics: Coin

James Dawson

James Dawson is a Journalist at LADbible. He has contributed articles to LADbible’s ‘Knowing Me, Knowing EU’ series on the EU referendum, the 'Electoral Dysfunction' series on the 2017 general election, the ‘U OK M8?’ series tackling mental health amongst young men, and for its ‘Climate Change’ initiative in partnership with National Geographic.

 

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​Check Your Change LADs, Your £1 Coin Could Be Worth £250

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