COINING IT
Three errors to spot on £2 coins in your change that could make them worth £1,000
The Sun also reveals how to sell on a rare coin
A COIN collecting expert has revealed the three things to look out for on your £2 coins that could make them worth more.
You can get hundreds or even thousands of pounds by selling on rare coins and banknotes - but there's also profit to be made on regular coins that have been produced incorrectly.
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Collectors will pay a high price for "error coins" - and there are a few errors on the £2 coin in particular that are worth watching out for.
TikTok user - who describes themself as a coin collector and history enthusiast - said you should look for these three things...
Shakespeare Tragedies coin error
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Three William Shakespeare coins, known as Tragedies, Histories and Comedies, were introduced into circulation in 2016.
They were created to mark the 400th anniversary of the playwright's death.
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CoinCollectingWizard says it's the Tragedies coin in particular that you want to look out for, as a small number have a minting error.
More than 4.6million Tragedies coins were struck for circulation in 2016, but some have the wrong inscription.
They should read "what a piece of work is a man", but the error coins have "for King and country" written on them - which is meant to appear on the 2016 Army £2 coin, created to mark the First World War Centenary.
The coin expert says these error coins can fetch about £30.
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The Sun has seen examples of these selling for £30 on eBay in recent months.
However one sold for £65 this week, while others have only fetched about £4.
We previously contacted the Royal Mint to ask if this is a known issue and how many error versions may be out there.
A spokesperson for The Royal Mint said: “We are investigating the alleged error.”
'Fried egg' error
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Collectors are also scrambling to find £2 coins with a rare "fried egg" error.
CoinCollectingWizard says this design fault has left the coins "looking like a runny fried egg" as the middle of the coin - typically the gold-coloured inner circle - has spilt out into the silver outer ring.
The TikToker says "you could be sat on a fortune" if you find this one as some collectors will pay £600 for the rarity.
Of course, there is no guarantee you would fetch this price - the coin is only worth as much as the collector is willing to pay.
But The Sun has seen numerous "fried egg" error coins listed on eBay for three figures.
A similar error on one of the Royal Mint's Mayflower 2020 coins saw a lucky owner sell it on for £600 on eBay.
A total of 33 bids were made for the rare coin before it sold for over 300 times its face value.
Lord Kitchener coin error
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The Lord Kitchener coins were issued in 2014 to mark 100 years since the First World War broke out.
They feature a "Your Country Needs You" recruiting poster with an image of Field Marshall Kitchener on one side.
More than 5.7million of these coins are in circulation, so they are fairly common - but if you can find the extremely rare error coins, you could be sitting on £1,000.
A small unknown number of coins appear to have entered circulation that are missing the words "two pounds" on them.
Change Checker previously said there have been only two reports of these error coins being found.
CoinCollectingWizard says: "If you are lucky enough to come across this error coin then it is worth over £1,000."
How to spot valuable items
COMMENTS by Consumer Editor, Alice Grahns:
It’s easy to check if items in your attic are valuable.
As a first step, go on eBay to check what other similar pieces, if not the same, have sold for recently.
Simply search for your item, filter by “sold listings” and toggle by the highest value.
This will give you an idea of how much others are willing to pay for it.
The method can be used for everything ranging from rare coins and notes to stamps, old toys, books and vinyl records - just to mention a few examples.
For coins, online tools from change experts like Coin Hunter are also helpful to see how much it could be worth.
Plus, you can refer to Change Checker’s latest scarcity index update to see which coins are topping the charts.
For especially valuable items, you may want to enlist the help of experts or auction houses.
Do your research first though and be aware of any fees for evaluating your stuff.
As a rule of thumb, rarity and condition are key factors in determining the value of any item.
You’re never guaranteed to make a mint, however.
How do I check if my error coin is genuine?
Fake rare coins do circulate online, so it's worth bearing this in mind.
You can check whether you have a genuine error coin by sending it off to the Royal Mint museum.
The museum will analyse it and see if it is the result of a genuine minting error, and will usually get back to you in a couple of weeks.
It's worth noting that there is a difference between a genuine error coin and one that is just imperfect, for example with a design that is not as clear as you'd expect.
If you're looking to buy an error coin, it's best not to splash your cash without evidence from the Mint confirming it's genuine.
How to sell a rare coin
OK, so you've checked your coin, and it is genuine. What now?
You can sell the item on eBay, through Facebook or in an auction, but you should be wary of the risks.
For example, a number of scams target sellers on Facebook in a bid to get them to send over cash.
The fake buyer will say they're planning to buy the item and ask for money upfront for a courier they are sending around.
However, they have no intention of picking the item up and will make off with your cash.
The safest way to sell a rare coin is more likely at auction.
You can organise this with the Royal Mint's Collectors Service, which has a team of experts who can help you authenticate and value your coin.
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You can get in touch via email and a member of the valuation team will get back to you.
You will be charged for the service though - the cost varies depending on the size of your collection.
What are the most rare and valuable coins?
- Five rarest coins - do you have one?
- The 13 most valuable £2 coins in circulation
- How valuable are the rarest £1 coins?
- Most rare and valuable 50p coins in circulation
- Rare and most valuable 20p coins that could be worth up to £750
- Rarest 10p coins in circulation
- Rare 2p coins revealed
- How to check if you have a rare and valuable banknote
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
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