LOOK a bit more closely at your change. If you find a coin with an error in it, you could be able to cash in, with some worth £1,000s.
There are many examples of currency that has gone slightly wrong and is, consequently, worth a small fortune.
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“The number of error coins in your current purse or pocket could be quite high, because the Royal Mint is producing millions of coins every year,” reckons Martin Platt, a coin dealer in Truro.
Keep searching for coins you encounter in change. Here are a few you should look out for.
The ‘mule’ 2p – worth more than £1,000
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Find the right 2p in your change and it could be worth more than £1,000.
But it will only be that valuable if it’s one of just a few hundred coins issued in error in 1983.
To mark the launch of the first pound coin that year, a set of the then available UK coins was issued by drinks firm Martini.
But among the tens of thousands of sets issued, just a handful contained the rare error 2p.
It’s known as a ‘mule’ coin as it has the wording ‘NEW’ and not ‘TWO’ on the 2p coin in the set.
If you are lucky enough to find one, then you could cash in, but don’t be fooled.
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Almost all the 2p coins that include the words ‘NEW’ on the back were issued in 1971 when the coin was first minted.
“I have to disappoint lots of people who bring me a ‘NEW Pence’ 2p thinking they’ve struck it rich,” says Martin Platt.
“I just turn it round and point to the year. It will almost certainly say 1971, when millions of the coin were made.”
The ‘Aquatic’ 50p – £1,000
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“Probably the most famous error coin in your change is the Aquatic 50p,” says Mr Platt.
Ahead of the 2012 Olympics, a number of 50p coins were issued bearing images of different sports associated with the four-yearly event.
They were all dated 2011 as they were issued the year before the Olympics took place, so that’s not the mistake to look for.
The ones to look for are those with the Aquatics Discipline on them.
Of the many coins issued just a few had an error, which means collectors pay more than a £1,000 for examples of the coin.
“The extremely rare error is coins with water lines over the swimmer’s face with only 600 suspected to have been minted,” says Mr Platt.
“Without that, the ordinary Aquatics 50ps have little value.”
The ‘Skull’ £2 – up to £30
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All £2 coins in circulation have an inscription around the edge. But some have the wrong edge inscription.
“The most common error of this type can be found on the 2016 Shakespeare Tragedies (Skull) £2 coin,” according to change expert Coin Hunter.
More than 4.5 million of the coins entered circulation, and standard coins read “WHAT A PIECE OF WORK IS A MAN”: a line from one of Shakespeare’s plays.
But if the text shows “FOR KING AND COUNTRY” – you have found a wrong edge inscription error coin, which is currently worth £25 to £30.
First World War ‘Flames’ £2 – worth up to £500
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Another example of a wrong edge inscription is the 2014 First World War Army £2 which has the wrong inscription “THE WHOLE CITY IN DREADFUL FLAMES”.
That was designed for use for The Great Fire of London coin.
If you find an example of this error coin, it could be worth as much as £500.
Fried egg coins – worth up to £500
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The fried eggs coins are ones where the middle silver bit of a £2 coin or a £1 didn’t flatten down properly when it was being minted.
The mix of metals gives the effect of a fried egg with the gold splashing down onto the silver, says Coin Hunter.
They can sell for as much as £100.
One colour coins – sells for £800
Rarely during the minting process the inner stamp fails.
When it does happen it means instead of the usual gold outer and silver inner £2, you can end up with a one colour £2.
A recent Technology £2 coin of this type sold for £800, says Coin Hunter.
Wrong head coins – sells for £500
Another rarity is when a coin has the wrong portrait of the Queen.
It rarely happens but when it does, the coin can be valuable.
A recent unearthed 2014 £2 used an old portrait of the Queen from previous issues.
Only one has ever been found to date, says Coin Collector and it sold for £500.
Be wary of buying on eBay
But wary of people selling supposedly rare coins on auction sites such as ebay.
They are often chancers, or people who are simply mistaken, hoping to cash in.
“Coins listed for sale as buy it now on eBay are often the source of fakes,” warns Coin Hunter. “People can list any item, including £2 coins from their pocket, for any price.
“A listed price is meaningless until items actually sell at that price.”
The Check Your Change app lists almost 1,000 different UK coins including rarities and error coins.
It’s free to download or you can pay for a version that includes valuations.
