‘Super rare’ £1 coin with engraving error could be worth £500

This £1 coin was printed with a dating error

This rare £1 coin with a printing error could be worth up to £500, according to a coin expert.

After more than 30 years in circulation, the round one pound coin was replaced in 2017 with a 12-sided coin to reduce the amount of counterfeit coins created.

While the round £1 coin lost its legal tender status at midnight on October 15, 2017, it can still be deposited in some high street banks in the UK and can still be donated to charity - according to the Royal Mint.

Although the value of a pound coin is exactly one pound, some rarer versions can be worth more either due to having a low mintage number, or due to printing errors.

A coin-collecting expert shared a video to social media platform TikTok warning Brits to look out for this £1 coin that can be worth up to £500.

The Coin Collecting Wizard said: "What you need to look for is a pound coin from 2016 and look for the small micro engraving around the rim of the coin.

"If yours says 2017 instead of 2016 then you have found a super rare pound coin that has been known to sell for around £500.

"Now, this micro-engraving is very difficult to spot due to the size of the font. So I would recommend using a microscope or your phone camera to zoom in and try and spot this rare error." On eBay, this coin is currently being listed for up to £1.5k.

Generally, the lower the mintage number the more value a coin holds. According to the Westminster Collection, the rarest £1 coins include the 2011 Edinburgh £1 coin with a mintage of 935,000. Then, the 2011 Cardiff £1 coin has a mintage of 1,615,000. Other rare £1 coins include the 2010 London City, the 2014 Thistle and Bluebell among others.