£1 coin ‘minting error’ sells for £2,375

d370151b-5b06-49ef-8264-9e847d98041a

21 February 2018
|
102267-29867.jpg The example sold by TimeLine Auctions (c) TimeLine Auctions
An example of a new £1 coin ‘error’ which is completely gold in colour, rather than the bi-metallic appearance of the new twelve-sided coins, has been sold for £2,375

An example of a new £1 coin ‘error’ which is completely gold in colour, rather than the bi-metallic appearance of the new twelve-sided coins, has been sold for £2,375. 

The striking error appears to have combined the design of the new £1 coin with an old round £1 coin, with the new die being struck on an old blank.

The first example that came to light was sold for £205 on eBay, prompting many newspapers to report the discovery, and interest in the seemingly scarce coins only grew following the sale of a second coin at a London coin auction for an impressive £2,375.

TimeLine Auctions offered what they described as an ‘extremely rare and dramatic’ example of the ‘obsolete blank error £1’ as part of their four-day auction, with the hammer finally falling at a price of £2,375, including buyer’s premium. The auction lot notes explained: ‘This one pound coin of the new type (issued 2017) has been struck on a blank for the previous, obsolete and withdrawn one pound coin rather than on the new bi-metallic flan that should have been used; such occurrences are extremely rare.’ 

Despite the discovery, Luke Hearn of website Change Checker suggests collectors exercise caution if they find an example of the coin and, if possible, seek verification from The Royal Mint Museum. 

Advertisements

Luke says: ‘As yet, we have not seen proof that these coins have been verified by The Mint, so whilst they look genuine we will keep an open mind for the time being.’

The news follows the discovery in June 2017 of a dual-dated £1 coin with 2016 on the obverse and 2017 micro-engraved on the reverse. 

NEW COIN MAGAZINE - JUST 99p!
Get the brand new Coin Collecting Magazine free with the April issue of Stamp & Coin Mart, available to order now.