PAYING close attention to the coins in your wallet could pay off because – if spot something a bit strange – you could be quids in.
A coin with a minting error could be worth a small fortune because very few actually make it into circulation.
Rachel Hooper from Change Checkers shares the little-known error coins to spot
For this reason, they are very attractive to collectors who are sometimes willing to pay large sums in exchange for one.
You can make money from these rare coins by selling them at auction, either online or in person, or through a dealer.
The price of a coin varies based on things like demand at the time and how common it is.
It’s important to remember that you aren’t guaranteed to fetch huge amounts if you do choose to sell your change.
Anyone can list a coin on eBay and charge whatever amount they wish, but it’s only ever worth what someone is willing to pay.
By checking the recently sold items you will get a more accurate indication of what people are willing to pay for a specific coin.
HOAR spoke to expert Rachel Hooper from Change Checker to find out the less familiar error coins you should be keeping an eye out for.
If you managed to sell all of the coins mentioned below for their top value, you could make up to £1,969.
HG Wells £2 error coin – up to £1,000
The HG Wells error coin could be worth up to £1,000
This £2 coin launched in 2021 to mark 75 years since the death of the science fiction novelist HG Wells.
Like other £2 coins, it is made from two metals – a silver coloured cupro-nickel disc surrounded by an outer yellow nickel-brass ring.
But it appears that some may have been minted with a thicker yellow ring, wider than a normal £2 coin
Rachel said that if a coin with this error was to be sold at auction, it could fetch more than £1,000.
This is because they were only available to buy directly from the Royal Mint and not widely circulated.
Any error versions will have only been available to buy on their release in January 2021.
Although they haven’t been launched into circulation, that doesn’t mean one couldn’t accidentally end up in your change though.
£1 error coin – up to £205
One seller managed to flog the coin on eBay for £205 in 2018
Rachel said this coin looks like it has had the design for the new £1 coin struck on an old £1 coin base.
The error is believed to have happened when the familiar round £1 coin was replaced with the new, 12-sided £1 coin in 2017.
We couldn’t find a recent sale of one of this coins on eBay, meaning they’re a pretty rare and people are keen to keep them in their collection.
But one seller managed to flog one of these coins on eBay for £205 in 2018.
Bronze 20p coin – up to £750
A bronze 20p coin could be worth a pretty penny
One mistake collectors want to get their hands on turned the normally silver 20p coin bronze.
This happened after being struck onto the metal normally struck for a 1p coin that had slipped into the wrong batch.
Rachel said the coin has been confirmed by The Royal Mint as an “extremely sought-after minting error”.
These are super rare and are not specific to any year.
We’ve had a look online to see how much these error coins sell for but it doesn’t look like there are any currently available on sale.
But experts have previously valued these coins at £750 each.
They truly are a rare find which could make them worth even more now.
Sir Isaac Newton 50p – £14
The Sir Isaac Newton 50p has an unique error
The Sir Isaac Newton 50p was first issued in 2017 to mark the 375th anniversary of the famous scientist’s birth.
But eagle-eyed collectors soon noticed something a little different on some of their 50ps.
Rachel said collectors reported finding an error on the obverse (the side featuring the monarch’s head), where several extra lines appeared across the Queen’s portrait.
It’s not known how many of these error coins are in circulation.
But ChangeChecker said that they have been known to fetch hefty sums on the secondary market.
One sold for £8.99 on May 18, while another went for £13.99 on April 4.
How to sell a rare coin
There are lots of ways to sell your coin – you can sell it on eBay, through Facebook, or in an auction.
But be wary of the risks.
For example, there are a number of scams targeting sellers on Facebook.
Crooks will say they’re planning to buy the item, and ask for money upfront for a courier they’ll be sending around.
But it’s all a ploy to get you to send free cash to them – and they never have any intention of picking your item up.
It’s always best to meet in person when buying or selling on Facebook Marketplace.
Ensure it’s a public meeting spot that’s in a well-lit area.
Avoid payment links and log in directly through the payment method’s website.
Most sellers prefer to deal with cash directly when meeting to ensure it’s legitimate.
Perhaps the safest way of selling rare coins is to sell them at auction – to do this, contact The Royal Mint’s Collectors Service.
It has a team of experts who can help you authenticate and value your coin.
You’ll need to enquire via email, and a member of the valuation team will contact get back to you.
Take a picture of your coin and attach this to the email – you can find the details on The Royal Mint’s website.
Be aware that you will be charged for this service though – the cost will vary depending on the size of your collection.
You might choose to use eBay to sell your rare coin.
But take into account that if you manage to sell your item then eBay will charge you 10% of the money you made – this includes postage and packaging.
Always keep proof of postage to protect yourself from dodgy buyers who may claim they never received their item.
Send the parcel by tracked delivery if you can.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]
