New £1 error coin featuring King Charles III's portrait and two bees design found in circulation

Coin collectors, it's time to rummage through your stash as you could be sitting on a small fortune. Certain rare coin designs are known to fetch a pretty penny

Coin collectors, it's time to rummage through your stash as you could be sitting on a small fortune. Certain rare coin designs are known to fetch a pretty penny, with previous finds including two rare £2 coins with an "error" valued at £1,000 and a 1p piece worth a staggering £200,000. Now attention has turned to a new £1 error coin that is believed to be circulating across the UK.

TikTok user @CoinCollectingWizard, who has amassed a following of 204,000, discussed 'The Bee' £1 coin which features a "new" error. He told followers 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."

However, this rare £1 coin is all one colour. It features King Charles III's portrait on one side, while the other side depicts a new 2023 design of two bees to celebrate the Monarch's love for nature.

The TikTok user also explained coins with mistakes on them are referred to as "error" coins and can be "extremely valuable to collectors".

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.

But it's still worth checking your collection – you never know what treasures might be hiding in there.

He finished by saying: "We always urge collectors to be cautious and to do their research. So finding a £1 all colour is very rare."

The video has since gained attention among coin enthusiasts, receiving 700 likes and a flurry of comments.

A viewer remarked: "It's only worth what someone pays for it."

While another boasted: "I have one."

And another chimed in with: "I've got a rare £1 coin."