A COIN expert has revealed the exact detail to spot on an error 20p piece that’s worth nearly £90.
Minting errors occur when coins are struck, making them highly sought after by collectors.
1
It means pieces in your everyday change can go for multiple times their face value.
Two pence pieces have been known to sell for up to £1,000, while error 50p coins have gone for £100s.
One 20p piece could be worth nearly £90 too.
TikTok user @coincollectoruk shared in a recent video how 250,000 of the “mule” coins were struck in 2008, but without dates on them.
They explained: “On the back of the shield there is a date at the bottom.
“However, in 2008 The Royal Mint released coins with no date by mistake.
“This is called a mule error, there are estimated to be 250,000.”
The Royal Mint’s website says the undated 20p coin remains legal tender, so you can use it in shops.
And that means there’s a possibility of it turning up in your spare change, so make sure to keep an eye out.
How to spot a rare coin
A coin is usually considered rare if it has a low mintage figure – this is set by The Royal Mint.
A mintage figure relates to how many of a coin were made, so the lower it is the rarer the coin is.
You can find out what coins are rare and how they look on The Royal Mint’s website.
But some are also considered rare due to manufacturing errors.
They have been known to sell for hundreds of times their face value because there are so few of them.
If you want to find out if your coin was made incorrectly, you can check out our list of rare coins here.
Meanwhile, you can use websites like changechecker.org which regularly posts about error coins.
How to sell a rare coin
You can sell a rare coin in a number of ways, including through Facebook, on eBay or in an auction.
But be wary of the risks. A number of people have been targeted by scammers on Facebook.
Crooks say they’re planning to buy the item, and ask for money upfront for a courier to send to your home.
But you end up sending 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, and in a public place.
And 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 get back to you.
You will be charged for the service though – the cost varies depending on the size of your collection.
lastly, you can sell rare coins on eBay – but it does charge you 10% of the money you made, including postage and packaging.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
