Check your rare coins for a ‘new’ £1 error featuring King Charles III

When was the last time you checked your coin collection?

In recent months, we’ve seen some of the pieces go viral with two rare £2 coins worth 500 times their face value and a penny coin doing the rounds with its £200,000 price tag.

Now TikTok user @CoinCollectingWizard, who has 204,000 followers, recently spoke about the £1 coin ‘The Bee’ which features a “new” bug.

He told fans in a video: “A new error has been found on the £1 ‘The Bee’ coin and it will be worth it if you find it. All new £1 coins are made with two metal rings , the exterior is made of nickel brass, while the interior is nickel brass alloy.

“But the rare £1 coin that was recently found is single-coloured. The coin features the portrait of King Charles III, while the reverse features a new 2023 design of two bees to celebrate the monarch’s love for nature.”

Pieces made with mistakes are called “error” coins and are “extremely valuable to collectors,” according to the man. He added: “This is because they could be unique or one-of-a-kind, or they are hard to find.”

Despite the Royal Mint’s strict quality control measures, the chance of encountering any UK coin with an error is exceptionally low.

However, it’s still worth checking your collection – you never know what treasures might be hiding in your stash.

He concluded: “We always ask collectors to be cautious and do their research. So finding a £1 in full color is very rare.”

The video gained a lot of attention with 700 likes and numerous comments. One commenter noted, “It’s only worth what someone pays for it.”

Others claimed to own the rare coin, with one saying: “I’ve got one” and another agreeing: “Me too.”

Another individual also boasted: “I have a rare £1 coin.”

To determine the true value of a potentially rare coin, it is recommended to consult an expert for a professional appraisal.