If you’ve got a stash of loose change around the house, you might want to have a quick rummage through or risk losing out on thousands of pounds. As one coin expert has urged the public to keep an eye out for rare coins that could fetch over £70,000 at auction.
There are three coins to pay special attention to, says Chris young, the co-founder of Coins Value. The first of these is a a rare 2p coin that’s particularly valuable due to a glaring error.
Issued in 1983, it’s unclear how many are currently in circulation, but some suggest they were often part of souvenir sets, as the Daily Record reports.
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“Due to a minting error, some 1983 2p coins were struck with ‘New Pence’ on the reverse rather than ‘Two Pence’,” Chris told the Mirror. “This mistake makes it quite valuable among collectors… [Now] numismatic auction houses or online marketplaces like eBay are good options [for selling them].”
At present, Chris estimates that a 1983 New Pence can fetch between £500 and £700. While this may seem like a substantial amount, it’s nothing compared to the value of another coin with a fascinating history.
During the 1930s, banks had such a large stock of pennies that there was no need to put any more into general circulation, according to The Royal Mint. So, 1933 King George V pennies, among others, were buried beneath the foundation stones of new buildings as part of a tradition.
“[There] was a convention at the time that complete sets of coins of the current year were buried under the foundation stones of new buildings,” The Royal Mint explains. “Consequently, three 1933 pennies were struck for buildings erected in that year, along with a small number to be kept as record copies by the British Museum and the Royal Mint Museum.”
If you’re fortunate enough to stumble upon a 1933 King George V coin, you could be sitting on a small fortune. Chris Yang suggests that such a coin could fetch up to a whopping £72,000, as one did at an auction in 2016, according to MailOnline.
The value of these rare coins seems to be on the rise too, with one reportedly selling for £40,000 in 2004, and £45,000 in 2006.
Chris continued: “This is one of the rarest British coins because only a few were ever produced as part of a special minting for record-keeping. The rarity and historical significance of the coin makes it highly sought after by collectors.
“…High-end auction houses like Sotheby’s or Bonhams would be the best option [to sell] such a rare coin.”
Lastly, Chris highlighted an unusual 50p coin issued in 2009 to commemorate the 250th anniversary of Kew Gardens. If you’ve ever visited the gardens, you may recognise the coin’s Chinese Pagoda which was originally built in 1762, but freshly restored in 2018.
“Only 210,000 coins were minted, making them one of the most sought-after 50p coins in circulation,” Chris said. “The coin commemorates the 250th anniversary of Kew Gardens, featuring the iconic Pagoda.”
Chris believes that eBay and the London Coin Company two of the best places to sell these. Although they can fetch between £150 and £200, it may depend on their condition.
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