SPOTTING a rare coin in your change could be a big money-spinner – especially if you spot a rare £2 error coin worth up to £125.
If you discover a sought-after coin in your change, you can make money on it by selling it on.
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You could do this through an auction, either online, in person, or through a dealer.
There are some coins which are known to fetch large sums of cash, such as the Kew Gardens 50p and the commemorative 50p coins minted to mark the London 2012 games.
But there are also lesser-known designs that are worth keeping an eye out for – including the £2 Inverted Britannia coin.
A small number of 2015 Britannia £2 coins were minted with the Queen’s head upside down.
They accidentally entered circulation and they could now be worth a small fortune.
Kate Morgan, a coin expert at Change Checker, previously told The Sun: “The Queen’s head is offset by about 150 degrees compared to the Britannia design on the other side.
“It’s thought that the error was caused by a loose die rotating during the striking process.”
The coin has a mintage figure of just 650,000, making it one of the scarcest in circulation.
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“It’s estimated that as few as one in 200 – or approximately 3,250 – of them feature the inverted effigy”, Kate added.
When The Sun checked eBay, we found two recent examples – one from May 30 and another from March 25 – when they sold for £125.
How to check if a coin is rare
In most cases, a coin is rare if it has a low mintage figure – which is set by The Royal Mint.
The mintage figure relates to how many of the coins were made, so the fewer there are of them, the rarer they are.
You can find out what coins are rare and how they look on The Royal Mint’s website.
Your next step after this is seeing if the same coin is still available to buy in superior Brilliant Uncirculated quality from an official Royal Mint distributor, according to Change Checker.
These coins have been specially made to a superior quality which differentiates them from other coins you might find in your pocket.
How to sell a rare coin
If, after checking, you realise you’ve come across a rare coin, there’s a number of ways you can sell it.
You can sell it on eBay, through Facebook, or in an auction.
But be wary of the risks.
For example, there are a number of scams targeting sellers on Facebook.
Crooks will say they’re planning to buy the item, and ask for money upfront for a courier they’ll be sending around.
But it’s all a ruse to get you to send free cash to them – and they never have any intention of picking your item up.
It’s always best to meet in person when buying or selling on Facebook Marketplace.
Ensure it’s a public meeting spot that’s in a well-lit area.
Avoid payment links and log in directly through the payment method’s website.
Most sellers prefer to deal with cash directly when meeting to ensure it’s legitimate.
The safest way to sell a rare coin is more than likely at auction. You can organise this with The Royal Mint’s Collectors Service.
It has a team of experts who can help you authenticate and value your coin.
You can get in touch via email and a member of the valuation team will contact get back to you.
You will be charged for the service though – the cost varies depending on the size of your collection.
Meanwhile, you can sell rare coins on eBay.
But take into account that if you manage to sell your item then eBay will charge you 10% of the money you made – this includes postage and packaging.
Always keep proof of postage to protect yourself from dodgy buyers who may claim they never received their item.
Send the parcel by tracked delivery if you can.
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