The rarest coin on the index, known as the Edinburgh City 2011 £1 coin, is selling for as much as £34, more than thirty times its value, while the 2011 Cardiff City £1 coin has sold for £20 and the London City 2010 coin is selling for £10.Įven more valuable to collectors are 'proof coins' which are test versions of the £1 that are minted by the Royal Mint and are struck at a lower speed with a higher finish. Do you have an AA, AB, AC, or AK five pound note? It could be worth thousands.In a new 'Scarcity Index', CoinChecker has identified 24 of the rarest £1 coins to have ever circulated the UK, revealing the coins that are worth £25 or more, with these values likely to increase over time as the round pound coins are no longer in circulation. People across the UK will have until October 15, to use up their round pound coins before they are voided, however according to the money specialists at some of the rarer pound coins in circulation could be worth up to £50. People will still be able to return old coins to their bank after this time.The brand new 12-sided £1 coins are set to launch next month, but instead of spending them before they become void, people with a stash of 'round pounds' could be in possession of a small fortune. It is important that all round £1 coins are returned before 15 October 2017 when they lose their legal tender status. It also has micro-lettering and milled edges. New security features on the one pound coin include a hologram-like image that changes from a ‘£’ symbol to the number ‘1’ when the coin is seen from different angles. The new 12-sided £1 is highly secure and looks very different. Although many will have upgraded their machines to accept the new coin from 28 March, not all machines will accept the new coin from the date of introduction. The Royal Mint and HM Treasury have been working with businesses for the past three years to help them prepare for the change. Most of the major parking machine manufacturers are positive they will be able to manage the upgrade in a timely manner, having begun upgrades over 12 months ago.Įvidence suggests a significant number of motorists prefer using cash and they should feel confident that they can pay for parking wherever they choose to park when the new £1 coin is launched. The BPA has been working closely with The Royal Mint and HM Treasury to ensure that its members, who include local authorities, parking operators, and parking machine manufacturers, are ready to accept the new £1 coin wherever possible at launch. Staying ahead of sophisticated counterfeiters remains a constant challenge and this coin helps in that battle.ĭavid Smith, Head of Public Affairs and Research at the British Parking Association, said: It’s been designed to be fit for the future, using security features that aim to safeguard our currency, and currencies around the world, for years to come. From today, the public will start to encounter for themselves the most innovative and secure coin ever produced by The Royal Mint. It’s an historic day for UK coinage, and one that The Royal Mint has been working towards, together with businesses and industry, for a number of years. We have been working hard with businesses over the last three years to help make this changeover as smooth as possible.Īdam Lawrence, chief executive of Royal Mint, said: Today marks the start of the six-month transition period, so I’d urge everyone to make sure they spend, return or donate their old round pounds before 15 October. This is a giant step forward to help stamp out counterfeit coins and save businesses and the taxpayer millions of pounds every year. Round £1 coins will be returned to The Royal Mint – some of which will be reused to make the new coin.Ĭommercial Secretary to the Treasury Baroness Neville-Rolfe said: The public can now expect to find them in their change in the coming days and weeks.Īround 1.5 billion new £1 coins are being produced by The Royal Mint and these will be distributed to banks and retailers over the next 6 months. The new coins are being produced by The Royal Mint, in South Wales, at a rate of up to four million per day. This is the first new £1 coin to be introduced in more than 30 years and will be the most secure of its kind in the world – highlighting the UK’s position as a world leader in innovation. The new £1 coin becomes legal tender from today.
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