Exact date to spot on rare 1p that you could have in your change worth £500 on eBay
A RARE 1p coin could be worth up to £500 on eBay if it features a specific marking, an expert has said.
The ancient coin is from 1902 and features King Edward VII on the front.
The reverse features a design of a seated Britannia, a female figure which appeared on British coins for centuries.
She is seated on rocks or a wall, with one foot on a pile of stones and holding a scepter in her hand.
There is an image of the sea in the background, and the tide is either high or low in the coin.
A social media post from a user called the Coin Collecting Wizard on TikTok said coins with a marking showing the tide as being low are more valuable.
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The user said: "The low tide penny is a certain variety of the 1902 where the sea line is lower than the usual penny.
"Low tide coins are worth considerably more than their high tide counterparts, and if you're lucky enough to find a 1902 low tide Penny, then you're looking at around £500 in uncirculated condition."
Uncirculated coins refer to money that hasn't been in circulation for public use and has retained its original condition.
So for example you would not get the coin as change if you paid for something in a shop.
It is also important to remember that a regular 1902 coin which shows the ocean tide as high is not worth as much money.
The Sun found one which sold for just £3 on eBay earlier this month.
What makes the coin valuable is an error with the number three in the date at the bottom of the coin.
Under the number three of the error coin it looks like there is the start of a number two.
If the coin features this it could be worth up to £600.
What are the most rare and valuable coins?
- Five rarest coins - do you have one?
- The 13 most valuable £2 coins in circulation
- How valuable are the rarest £1 coins?
- Most rare and valuable 50p coins in circulation
- Rare and most valuable 20p coins that could be worth up to £750
- Rarest 10p coins in circulation
- Rare 2p coins revealed
- How to check if you have a rare and valuable banknote
How to spot rare coins and banknotes
Rare coins and notes hiding down the back of your sofa could sell for hundreds of pounds.
If you are lucky enough to find a rare £10 note you might be able to sell it for multiple times its face value.
You can spot rare notes by keeping an eye out for the serial numbers.
These numbers can be found on the side with the Monarch's face, just under the value £10 in the corner of the note.
Also if you have a serial number on your note that is quite quirky you could cash in thousands.
For example, one seller bagged £3,600 after spotting a specific serial number relating to the year Jane Austen was born on one of their notes.
You can check if your notes are worth anything on eBay, just tick "completed and sold items" and filter by the highest value.
It will give you an idea of what people are willing to pay for some notes.
But do bear in mind that yours is only worth what someone else is willing to pay for it.
This is also the case for coins, you can determine how rare your coin is by looking a the latest scarcity index.
The next step is to take a look at what has been recently sold on eBay.
Experts from Change Checker recommend looking at "sold listings" to be sure that the coin has sold for the specified amount rather than just been listed.
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People can list things for any price they like, but it doesn't mean it will sell for that amount.
We explain further how you can find out if you have a rare coin worth thousands sitting around the house.
How to spot a fake coin
he Royal Mint has revealed how you can spot a fake coin and here are some possible signs to look out for.
- The date and design on the reverse do not match.
- The lettering on the edge of the coin doesn't match the year.
- The milled edge is poorly defined.
- The lettering is uneven in depth, spacing or missing letters - or if the face designs are not as sharp or well-defined.
- The coin appears shiny and doesn't show signs of ageing.
- The coin's colour is different compared to genuine coins.
- Finally, check the alignment of the front and reverse designs.