Published on March 3rd, 2017 | by Michelle Roper-Shaw0
Check the Round £1 Coin in Your Pocket
The new twelve sided £1 coin enters circulation on 28th March. But did you know the round £1 coin in your pocket may be more much more than its face value?
Top 10 Rarest Round £1 Coins
There are 24 individual designs of the current round £1 coin. Coin collectors or numismatics, to give them their correct title, are keen to add the whole set to their collections. The rarest designs can fetch up to £35.
So, if you are up for a treasure hunt, here the top 10 round £1 coins to look out for.
The rarest round £1 coin, Scotland: Edinburgh City, Year 2011, is the only £1 coin with a mintage under 1 million which makes it such a collector’s item. Around 600,000 – 800,000 are still in circulation, so in a pile of 3,000 £1 coins, one will be an Edinburgh City coin. If you’re lucky enough to find one it can fetch up to £34, thirty times its value.
The round pound coin originally entered circulation back in 1983 replacing the old green £1 note. Since then 2.2 billion coins have been struck. Today only 1,553,000,000 are still in circulation. The remaining 650 million have been withdrawn due to damage or general wear and tear.
In addition, it may also be worth you looking behind the sofa for some spare change. The government estimates £433 million round pound coins are still hoarded away in our homes.
The New Twelve Sided £1
In our previous article Be Ready for the New Pound Coin we discussed the new 12 sided £1 coin including its high security and anti-counterfeit features.
Once the new £1 coin is launched on 28th March, there will be a co-circulation period lasting until 15th October. During this time, you will be able to use both the old £1 coin and the new £1 coin.
After 15th October, businesses will be under no obligation to accept the old round £1 coin. However, if you do still have these coins following this date, you can deposit them at most banks and Post Offices.
Coin Collecting at the Post Office Shop
You can also buy the Last Round Brilliant Uncicrulated £1 Coin 2016, a permanent keepstake of this much loved coin.