You’ve probably got one rattling around in your pocket right now. Or maybe it’s buried in that weird "everything" drawer in the kitchen. Most of the time, we don't even look at them. But one pound coins UK collectors hunt for aren't your average pieces of pocket change.
Ever since the "round pound" got scrapped back in 2017, the game changed. We moved to the 12-sided bimetallic version—the one the Royal Mint calls the "most secure coin in the world." But safety is boring for collectors. They want the mistakes. They want the low mintage numbers. They want the stuff that shouldn't exist but somehow does.
Honestly, it’s a bit of a treasure hunt. While most of these coins are just worth exactly 100p, a tiny fraction of them could pay for your next holiday.
The Death of the Round Pound and Why It Matters
The old round pound was a disaster. By the time it was withdrawn, roughly one in every 30 coins was a fake. People were literally making them in sheds. When the Royal Mint introduced the new 12-sided one pound coins UK residents use today, it was a massive logistical headache.
They had to change every vending machine in the country. Every supermarket trolley. Every parking meter.
But here’s the thing: because the old coins were demonetised on October 15, 2017, they technically aren't legal tender anymore. You can’t spend them at Tesco. However, you can still swap them at most high street banks or the Post Office if you find a stash in an old piggy bank.
Don't just rush to the bank yet, though. Some of those old round ones, like the 2011 "Edinburgh City" design, are incredibly rare. Only 935,000 were ever made. In the world of coin collecting, or numismatics if you want to be fancy, anything under a million is a big deal.
Spotting the Real Winners in Your Change
What makes a coin valuable? It isn't just age. It’s scarcity.
The Royal Mint releases different designs every year to celebrate the four nations of the UK. Sometimes they overproduce them. Sometimes they barely make any.
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Take the 2023 King Charles III "Bee" pound. It's the first one with the new King's portrait. People went nuts for it. But is it rare? Not really. Millions were minted. However, if you find a 12-sided pound where the gold-coloured outer ring is bleeding into the silver-coloured center—that's a "mule" or a striking error.
Those are the ones that sell for £200 on eBay.
Look for the 2016 Error
When the new coins were being tested, some 2016-dated coins were accidentally released into circulation. Since the official launch wasn't until 2017, these "pre-release" 2016 coins are highly sought after. Check the date. It's tiny, right at the bottom of the Queen's neck (the obverse side).
The Mintage Figures That Actually Count
If you’re looking at one pound coins UK mintage data, you’ve got to be specific. The 2017 "Nations of the Crown" design had over 500 million copies. It’s common as dirt. You’ll never get more than a pound for it.
On the flip side, the 2016 "Last Round Pound" (the one with the heraldic beasts) has a mintage of about 9.1 million. It's not super rare, but in "uncirculated" condition, it carries a premium.
Why "Mint Condition" is a Trap for Amateurs
I see this all the time. Someone finds a "rare" coin, but it’s scratched to hell because it's been sitting in a cup holder for three years.
Collectors use a grading scale.
- Circulated: It’s been used. It has "bag marks." It’s worth the face value unless it’s an ultra-rare mintage.
- BU (Brilliant Uncirculated): It was never spent. It still has that original mint luster.
- Proof: These are the shiny, mirror-like coins sold in boxes. They were never meant for your wallet.
If you find a rare design in your change, it’s "circulated." That’s fine, but don't expect the "Book Value" prices you see in magazines. Those prices are for perfect specimens.
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Still, a £1 coin that sells for £30 is a 3,000% return on investment. Not bad for a piece of metal.
The "Trial" Coins: The Holy Grail
Before the 12-sided coin went live, the Royal Mint sent out "Trial Pieces" to businesses so they could calibrate their machines. These look almost exactly like the current pound coin, but they usually have "TRIAL" stamped on them and a date of 2015 or 2016.
They weren't supposed to be kept. People kept them anyway.
These aren't legal tender. You can't buy a Snickers with one. But because they were never officially "issued" for spending, they are incredibly collectible. I've seen these go for anywhere between £150 and £500 depending on the auction.
How to Sell Without Getting Scammed
If you think you've found a winner, don't just put it on eBay with a £1,000 "Buy It Now" price. That’s what scammers do to trick people into thinking common coins are rare.
First, check the "Sold" listings on eBay. Not what people are asking for, but what people actually paid.
Second, look at the edges. On the old round pounds, there was an inscription like "DECUS ET TUTAMEN." If the inscription is upside down when the Queen is facing up, is it a rare error? No. The Mint applies the edge lettering first, then the faces. It’s a 50/50 shot which way it ends up. It’s not an error. Don't let the internet forums lie to you.
Third, use a magnifying glass. Look for "Die Cracks"—tiny raised lines of metal where the stamp started to break. These are genuine errors that collectors love.
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The Future of the Pound Coin
We're moving toward a cashless society. It's happening. Contactless payments are king.
This actually makes one pound coins UK collectors hold even more valuable over time. As physical cash becomes less common, the Mint produces fewer coins. Lower mintage means higher rarity in the long run.
We’ve already seen a massive shift in how the Royal Mint operates. They are focusing more on "commemorative" sets for collectors than on coins for general circulation. If you see a pound coin with a weird design you don't recognize, keep it. Just in case.
Check Your Change: A Quick Action Plan
Don't spend your coins blindly. Follow these steps next time you get change at a shop:
- Check the Date: Anything 2016 on a 12-sided coin is worth a second look. If it's an old round pound, look for 2011 (Edinburgh) or 2010 (Belfast).
- Inspect the Alignment: Turn the coin over. Is the Queen's head perfectly aligned with the design on the back? If it’s tilted by 45 degrees or more, you’ve found a "Rotated Die" error.
- The "Bleed" Test: On the new 12-sided coins, check if the inner silver part is perfectly centered. If it's wonky or overlapping the gold ring significantly, it's a "Mis-strike."
- Listen to the Sound: This sounds crazy, but fake old round pounds often "thud" rather than "ring" when dropped on a hard surface because they were made of lead or tin instead of nickel-brass.
- Keep it Protected: If you find something cool, don't throw it back in your pocket. Put it in a small plastic bag or a coin flip. Scratches literally wipe pounds off the value.
The reality is that 99.9% of the coins you find are just worth a pound. But that 0.1% is out there. People find them every single day. It might as well be you.
Check the dates, watch for the errors, and maybe stop using your debit card for a week just to see what turns up in your pocket. You might be surprised.
Actionable Next Steps
To determine the true value of your coins, visit the Royal Mint's official mintage figures to see exactly how many of your specific design were produced. Once you have a mintage number, cross-reference it with the "Sold" filter on eBay to get a realistic market price. If you believe you have a high-value error coin, consider sending it to a professional grading service like NGC or PCGS to have its authenticity certified, which can significantly increase the resale price.