eBay: The ‘unique’ 2016 £1 coin selling for £3500 - check your change NOW
EBAY: The world’s leading online market place eBay has had a new addition to its rare coin offering this morning, the listing of a defected £1. First issued in 2016, the coin is selling for a staggering £3,500.
Save your pennies and the pounds will look after themselves. True, but save your pounds and you could end up with something rare and find yourself sitting on a gold mine.
Auction site eBay is now the place to head when it comes to these rare coins, with multitudes now making their way onto the market place site. There is no better place to flog your change than eBay.
New to the site this morning is a £1 coin. Keen collectors might have to double-take before noting this coin is worth a whole lot more, listed for a staggering £3500.
The coin is simply described as a "£1 coin from 2016 with defects" and is listed for £3,500 with the seller, mpaul_223. However, it may take a few looks to spot the difference.
The listing’s description states what makes this coin a "rare collectable piece".
eBay: Rare £1 coin with minting error selling for thousands
The seller wrote: “On the front side Queen’s crown goes over from the sliver part to the gold one and in the same time the £1 sign goes over on the silver part from the gold one.”
How else to spot this coin? The seller continued: "This is a unique coin with defects on all sides including the edges. In conclusion the minting machine had a massive error while this coin was pressed."
“On the coin you can notice the defects run on both sides and on the edges too, the coin is also round in places, a mistake made during pressing.”
He also revealed the reasons behind the high starting price - he couldn't find a similar coin, leading him to believe the coin is very rare.
The seller, mpaul_223, has 100 per cent positive feedback on the online auction site, with the coin's location being the seaside city of Portsmouth.
Getty Images/eBay/mpaul_223
The ebay seller's other listings include a rare 50p coin along with car parts and a more off-piste pair of women’s shoes.
The listing of this coin is just the latest in a string of sky-high listings of defected £1 coins over the years, with many errors happening in the coining process.
Errors were said to have happened to due many coins being produced in a short space of time.
According to chards.co.uk, a coin speciality site, over 500 coins were being struck a minute with huge rush to meet demand, resulting in more defects than expected.
Errors have included middle centres falling out, 12-sided coins, rounded edges and gold bleeding into silver.
eBay/mpaul_223
It’s unclear as to whether the coin will reach its full £3,500 asking price, with almost a week left on the listing.
Mpaul_223 is also accepting offers below the asking price on the listing.
The defected 2016 £1 coin is the fifth highest listed pound coin currently on eBay, with the highest on for a stunning £6,900, a 2016 coin issued in "error".
A the end of 2017, a defected £1 coin was spotted on eBay with a gap between the two parts of the coin. This sold for a mind-boggling £5,000, one of the highest seen on the site for a £1 coin.
With sales showing no signs of slowing down, last month The Express found a rare Edinburgh £1 coin that sold on eBay for £125.99.