GOLD RUSH
The most valuable and rare £1 coins revealed – the round pounds it will PAY to hang on to
Some old round pounds could be worth up to £20 a pop on eBay
IF you've got a stash of old £1 coins then you could be sitting on a small fortune.
With just over a week to go until the old round pound is withdrawn from circulation, collectors are rushing to make sure they have the full set.
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The old style £1 coin has been in circulation since 1983 but it will no longer be accepted in shops after October 15.
Back in February we revealed the most sought-after coins ahead of the new 12-sided £1 coins launch.
More than a billion round £1 coins have now been returned to cash centres with more being returned every day - but that means there could still be MILLIONS of old round pounds that need to be exchanged.
There are currently 24 different designs and one of them is worth as much as £20 to buyers on eBay.
In general, the rarer the coin the more valuable it is, but a rise in interest for the old round pound could be driving up the value of some £1 designs.
We scoured eBay to see how much each of the old designs are selling for as the deadline draws closer.
Cardiff City £1 coin - up to £20
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The Cardiff City £1 coin is definitely one to hold on to.
The coin was first released in 2011 and has a mintage figure of 1.6million, making it the second most sought-after coin.
It depicts the circular coat of arms of Cardiff and can sell for as much as £20 on eBay.
Northern Ireland Flax £1 coin - up to £14
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The first reverse design series of £1 coins took floral emblems as its theme to represent the United Kingdom and its four constituent countries.
They were designed by Leslie Durbin - one of the most highly-regarded silversmiths of the 20th century.
Despite being thought as "common" by ChangeChecker.org this coin has sold for as much as £14 on eBay recently.
EMPTY YOUR POCKETS Rarest and most valuable coins in circulation revealed – do you have one in your spare change?
Edinburgh City £1 coin - worth up to £13
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The Edinburgh City £1 coin was released in 2011 with a mintage of 935,000 - making it the rarest £1 coin.
According to ChangeChecker.org only 17 per cent of its collectors have the coin in their collection.
It was part of a series of coins depicting the four capital cities in the UK.
On eBay, sellers are flogging the coin for around £13 each.
Crowned shield £1 coin - worth up to £9
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The UK crowned shield coin was released back in 1988, only 5 years after the first round pound entered circulation.
It has a mintage of 7.1 million but it one of the most sought-after coins, according to ChangeChecker.org.
The first Royal Arms of England are attributed to King Richard I whose crest depicted three gold lions.
Since then, the Coat of Arms has been adapted over centuries, and the reverse design of this coin displays the most modern version.
All coins dated 1988 feature this design, and 1988 was the only year it was used. These have been known to fetch around £9 at auction.
Royal Arms 2008 £1 coin - worth up to £9
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Despite the Royal Arms being a common pound coin design, the 2008 version is actually the third rarest, with 3.9 million in circulation.
Like the crowned shield design, the Royal Arms coins from 2008 can fetch up to £9 on eBay. But some in less good condition can be had for less than a fiver.
How to check the value of a coin
If you think you’ve got a coin that could fetch a few bob then it’s worth getting it verified.
The Royal Mint can tell if your coin is legit and not counterfeit, but doesn’t do valuations.
Earlier this year, The Royal Mint told the Sun Online that along with sales of coins, it is considering offering the service in the future due to growing interest from customers.
The dangers of selling your coins on eBay
THE most valuable coins are usually those that have low mintage numbers or those with an error.
The most valuable coins are usually those that have low mintage numbers or those with an error.
These are often deemed the most valuable by collectors.
Once you’ve found out whether the coin is real or not, you have a number of options - either selling it through a coin dealer, at auction or on eBay.
Sell it at auction
If you’ve got a coin that you would like to sell at auction then you can contact a member of the British Numismatic Trade Association.
They usually deal in very old coins but they may be able to help you assess whether it’s worth selling your coin at auction or whether it would be valuable to collector.
Sell it on eBay
If you want to sell the coin you’ve found in your spare change on eBay then you need to know the risks.
Remember to set a minimum price that is higher or at the very least equal to the face value of the coin.
Even if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will cough out.
It its terms and conditions, the auction website states that bidders enter a “legally binding contract to purchase an item”, but there’s no way to enforce this rule in reality.
The most eBay can do is add a note to their account acout the unpaid item or remove their ability to bid and buy.
This is because in order to sign up to the website users do not need to put in valid bank or PayPal details before making a bid.
If a bidder refuses to pay, then the only option for sellers is to give “second chance offers” to other bidders or relist the item.
For items of a high value eBay recommends that sellers put a limit on their listing to approve bidders.
It means bidders must email you before placing a bid but NOT that they must pay out the cash if they win.
MORE ON VALUABLE COINS AND NOTES
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