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

When was the last time you checked your coin collection?

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

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

He told fans in a video: “New error found on ‘The Bee’ £1 coin and it will be worth money if you find it. All new £1 coins are made with two metal rings, the outside is made from nickel brass, while the inside is nickel brass plated alloy.

“But the rare £1 coin that has been found recently is all one colour. The coin features King Charles III’s portrait, while on the other side depicts a new 2023 design of two bees to celebrate the Monarch’s love for nature.”

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

Despite the Royal Mint’s stringent 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 urge collectors to be cautious and to do their research. So finding a £1 all colour 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 possess the rare coin, with one saying: “I have one,” and another agreeing: “Me too.”

A separate individual also boasted: “I’ve got a rare £1 coin.”

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