Rare UK coin with Queen's portrait to enter circulation for last time – and it could be worth 95 times its face value
ALL CHANGE Rare UK coin with Queen's portrait to enter circulation for last time – and it could be worth 95 times its face value
THE final batch of £1 coins featuring the late Queen Elizabeth II's portrait will enter circulation for the last time - and they could be worth a pretty penny.
More than 23million of the coins are being released today, Wednesday August 20 by the Royal Mint has said.
1
The £1 are entering circulation
That means you could spot one in your change in the coming weeks.
These pieces will be the final ones bearing Elizabeth II's portrait to enter circulation.
Plus, the Royal Mint said these coins dated 2022, are the rarest £1 coins in active circulation.
If you are keen to spot the coin, there are a few details you can spot.
The front, or heads side, of the coin features a portrait of the late Queen Elizabeth and the date 2022.
While the reverse, or tails side, features an image of a crown with an English rose, Scottish thistle, Welsh leek and Northern Irish shamrock.
The coin joins a raft of other rare £1 pieces, including the 2011 Edinburgh City coin that has sold for 95 times its face value.
These coins have a mintage of just 935,000, making it a rare find.
Back in June, the coin sold for £23 on eBay after 21 bids.
The coin was part of a series depicting the four capital cities of the UK and is the only £1 coin with a mintage below one million.
Five 50ps that could earn you thousands
In comparison, a recent bidder paid £7.53 for one of the coins after fighting off bids from five others.
But coins are only worth what sellers are willing to pay for them.
So another piece may sell for a higher or lower price later down the line.
It comes as the official maker of UK coins is also set to release 7.5 million new King Charles III £1 coins.
The 50p and £1 are the only denominations with Charles's portrait to have entered circulation so far.
The King's £1 coins feature an intricate bee design on the reverse and are part of the Definitive collection, inspired by the flora and fauna of the British Isles.
Rebecca Morgan, director of commemorative coin at the Royal Mint, said: 'This release represents a pivotal moment in British coinage history.
'As we release more of the King Charles III £1 coins into circulation alongside the final coins of Queen Elizabeth II, we're witnessing the physical representation of our monarchy's transition."
She added: "This dual release creates an exceptional opportunity for both seasoned numismatists and those new to coin collecting.'
'Finding these new coins in your change could spark a rewarding hobby that connects you with the heritage, history and craftsmanship behind British currency.'
And that is not the only rare coin that collectors are keen to get their hands on.
The Kew Gardens 50p recently fetched £205 on eBay after 29 buyers battled it out for the piece.
Other rare coins to keep an eye out for are the Atlantic Salmon 50p,
How to spot rare coins and banknotes
Rare coins and notes hiding down the back of your sofa could sell for hundreds of pounds.
If you are lucky enough to find a rare £10 note you might be able to sell it for multiple times its face value.
You can spot rare notes by keeping an eye out for the serial numbers.
These numbers can be found on the side with the Monarch's face, just under the value £10 in the corner of the note.
Also, if you have a serial number on your note that is quite quirky, you could cash in thousands.
For example, one seller bagged £3,600 after spotting a specific serial number relating to the year Jane Austen was born on one of their notes.
You can check if your notes are worth anything on eBay, just tick "completed and sold items" and filter by the highest value.
This will give you an idea of what people are willing to pay for some notes.
But bear in mind that yours is only worth what someone else is willing to pay for it.
This is also the case for coins, you can determine how rare your coin is by looking a the latest scarcity index.
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