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“Forged” new £1 coins could be valuable

by LLB Reporter
25th Apr 17 2:48 pm

Noticed anything different about a £1 coin sitting in your pocket?

A reportedly “forged” example of the new £1 coin is the result of a production glitch, according to the Royal Mint.

Coin specialists are speculating that the fake coins could have great value to collectors.

The coin was found by a charity worker in Surrey, it has some visible differences to the normal £1 coin and is missing the high security hologram.

Numismatist Dominic Chorney of coin dealer A.H. Baldwin & Sons, told The Telegraph: “The coin appears to be a ‘mis-strike’, meaning it is a genuine coin which has become mis-aligned during the striking process,”

There is a problem with valuing the misprinted new £1 coin as its not known how many have been created.

Chorney said: “Mis-strikes have been valuable in the past, though it is difficult to gauge a value in this case since this is the first piece to come to light. Its value will be determined by how much collectors are willing to pay.”

A spokesman for the Royal Mint said: “We are not aware of any counterfeits entering circulation.”

“Variances will always occur in a small number of coins, particularly in the striking process, due to the high volumes and speed of production.”

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