Keep an eye out for £1 coin with tiny error worth £2,500 - what to look for

An example of this coin sold in 2017 for a staggering £2,500 - and there could be one in your change.

An example of this coin sold in 2017 for a staggering £2,500 - and there could be one in your change.

Britons are being encouraged to keep an eye out for an ordinary-looking coin that could be worth a small fortune.

Certain £1 coins may contain a tiny error that makes them highly sought after by collectors.

The coin of interest is a 2016 £1 coin, which is the newer 12-sided style.

Although these 12-sided coins were officially launched in March 2017, over 500 million were produced by the Royal Mint in 2016 in preparation for the changeover.

However, what sets this particular coin apart and increases its value is a minuscule "2017" marking on its reverse (tails) side. This date will be so small it might be difficult to spot.

On TikTok, specialist the Coin Collecting Wizard kept his followers informed of what to look out for.

He said: "This is a United Kingdom £1 coin and there is a rare dual dated error worth a lot of money.

"Now, this coin is a 2016 dated obverse with 2017 micro-engraving on the reverse. The micro-engraving is so small, you may need a microscope.

"And this coin sold for up to £2,500."

(Image: Coin Collecting Wizard/TikTok)

The collector mentioned that the coin is known to sell for up to £2,500.

He added: "We understand that at least one example was sold for £2,500 to a buyer in Spain in 2017.

"The error is particularly difficult to spot due to the size of the micro-engraving so be sure to keep an eye out for this one."

He continued: "It's worth checking any 2016 coins as it is one of the hardest errors to spot. Remember, you are looking for a 2016 obverse dated coin with 2017 micro-engraving on the reverse.

"So make sure to check all your 2016 £1 coins and make yourself some quick cash. This is such an easy error to miss because it is so small. Good luck."

Adding to this, specialists at Change Checker said: "We understand that at least one example was sold for £2,500 to a buyer in Spain in 2017, which probably marks the likely ceiling for value. Probably more dual-dated £1 coins have been struck than the 2p coins.

"However, the error is particularly difficult to spot due to the size of the micro-engraving. Bearing all that in mind, our best value estimate for a dual-dated £1 Coin in excellent condition is currently £300 – £500."

Currently, one dual-error 2016 £1 coin is up for grabs on eBay, with an asking price of £1,500.