Do you have a new ‘£1 error coin’? One has sold on eBay for £200
The coins appear to have the new £1 design stamped onto an old circular base.
LOOK after your pennies and the pounds will look after you - and checking your change for £1 coins could be worth a small fortune.
Coin enthusiasts are going crazy for a new £1 "error" coin that has been discovered in circulation - and could be worth hundreds of pounds.
According to coin experts at the it looks like the design for the new £1 coin has been struck on an old £1 coin base.
The Royal Mint is yet to confirm if the coins are a result of a genuine error - but that hasn't stopped collectors from taking a keen interest, with the blog receiving three reports of the unusual coins in the last week.
One seller has just sold one of the coins on eBay for £205 after receiving 22 bids and another one is up for sale at auction in London on February 21.
Luke Hearn, coins expert at the website, told The Sun Online that the coins have stirred up a lot of interest among collectors.
He said: "We’ve received a number of enquiries regarding the coin from.
"From the images we’ve been sent, it would appear that a 12-sided £1 coin die has been struck on an old round £1 blank - if this is the case, then that would make this a genuine error coin.
"But, it’s important to get any abnormal coins verified by The Royal Mint to ensure a coin is 100 per cent genuine.
"This coin is yet to be verified, people are still awaiting a response from the mint, so it’s worth keeping an open mind for the time being.
"Either way, it’s a very interesting coin that has clearly stirred up interest amongst collectors."
The dangers of selling your coins on eBay
THE most valuable coins are usually those that have low mintage numbers or those with an error.
The most valuable coins are usually those that have low mintage numbers or those with an error.
These are often deemed the most valuable by collectors.
Once you’ve found out whether the coin is real or not, you have a number of options - either selling it through a coin dealer, at auction or on eBay.
Sell it at auction
If you’ve got a coin that you would like to sell at auction then you can contact a member of the British Numismatic Trade Association.
They usually deal in very old coins but they may be able to help you assess whether it’s worth selling your coin at auction or whether it would be valuable to collector.
Sell it on eBay
If you want to sell the coin you’ve found in your spare change on eBay then you need to know the risks.
Remember to set a minimum price that is higher or at the very least equal to the face value of the coin.
Even if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will cough out.
It its terms and conditions, the auction website states that bidders enter a “legally binding contract to purchase an item”, but there’s no way to enforce this rule in reality.
The most eBay can do is add a note to their account acout the unpaid item or remove their ability to bid and buy.
This is because in order to sign up to the website users do not need to put in valid bank or PayPal details before making a bid.
If a bidder refuses to pay, then the only option for sellers is to give “second chance offers” to other bidders or relist the item.
For items of a high value eBay recommends that sellers put a limit on their listing to approve bidders.
It means bidders must email you before placing a bid but NOT that they must pay out the cash if they win.
The Royal Mint manufactures between three and four million coins a day.
And while the chances of a genuine error coin entering circulation are small - it's this rarity which makes them all the more valuable when they are discovered.
Collectors should also be aware that there's a difference between a genuine error coin one that is just imperfect, with a design that is not as clear as you'd expect.
Brits have coin crazy over the last few years, with sellers and collectors on the look-out for rare and unusual coins and notes that can be worth a fortune.
Sellers are also flocking to the Royal Mint to pick up a 2018 50p which celebrates Sir Issac Newton and is being sold for more than £60.
This week ChangeChecker launched its new eBay tool which tracks how much rare and valuable coins are selling for on eBay.
More on money
The Sun Online has asked the Royal Mint if the coins look like a genuine error and contacted the eBay seller to how they got hold of the coin.
If you do have a coin you think could be worth something, you can send it to them using this address:
The Royal Mint Museum
Llantrisant
Pontyclun
CF72 8YT
The mint will usually take a few weeks to confirm its findings.
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