UK households warned over 'rarest' 1p coin worth up to £200,000 which could 'change your life'

UK households are being warned to be vigilant over the "rarest 1p coin," which could be worth up to £200,000.

British households are being warned to watch out for the "rarest" 1p coin, which could be worth up to £200,000.

According to a specialist, the 1933 1p coin is one of the "rarest" and most "mysterious" coins in British history.

This is because no coins were meant to be minted for circulation in 1933, as there were "already enough from previous years," claims CoinCollectingWizard.

The specialist explained this on TikTok, in a video which has since gained over 100,000 views.

The whizz added that coin production was halted as there were "already enough from previous years."

However, he claims a few were struck anyway, leading to the revelation some which could still exist today may be worth a fortune.

The TikToker, who goes by @coincollectingwizard, said: "If you somehow stumble across one - don't spend it.

"It could fetch up to $200,000 at auction. That's one penny that could actually change your life."

The image of the coin showed by the content creator features the profile of King George V on one side of the coin, and the royal coat of arms on the other.

The coin also features the words "BRITISH EMPIRE" and "ONE P ENY" spelt out in capital letters.

The coin also includes a small, circular indentation above the royal coat of arms, and a larger, oval-shaped indentation in the lower half of the coin.

The lower part of the coin also includes the year in which it was meant to be minted, which is 1933.

To find out whether or not you have a rare coin, you should consider the grade and quality of it, as well as what the market demand is for the coin, according to BullionByPost.

Whether there is an error in the minting, or some sort of variation in the coin can also impact how rare a coin is perceived to be.

The website states: "Valuable coins are not necessarily scarce coins, but rarity will always add to the value of a coin. Precious metal bullion coins, such as gold Sovereigns, have an initial high price because of their metal content.

"That price will never be lower than its metal value on the commodity markets. Rare bullion coins will have additional numismatic value over and above their metal content."