Coin collecting has been a hobby for centuries, but has become especially popular in recent years.
Some have collected coins throughout their lives, while others have been handed coins which have passed down the generations.
Strike it really lucky, and you could find your collection is worth a small fortune.
Admittedly, this will depend on you being in possession of the right coins.
The Kew Gardens 50p, for example, can potentially command a premium of up to 200 times face value on eBay, while some from the limited-edition Peter Rabbit series can also come up trumps.
But not everyone will be so fortunate when selling their stash.
Over 30 billion coins are estimated to be in circulation in the UK today, according to The Royal Mint.
If you want to find out if you’re sitting on a pile which could make you a mint, the ‘Scarcity Index’ from Change Checker, is a useful resource which reveals Britain’s most sought after circulation coins.
Kate Morgan, from Change Checker, said: “People have long loved collecting coins, but popularity sky-rocketed in 2011 with the 29-coin Olympic series was issued.”
If you’re not lucky enough to count any of the much sought-after Olympic coins among your haul, there’s still a chance you could make a few hundred pounds just from selling loose change.
Irrespective of whether you’re an avid collector or simply wondering if the shrapnel in your wallet might be worth something, here’s some of the key things you need to know.
What makes certain coins more valuable?
Some of the rarest coins are those with low mintage numbers or errors.
Rebecca Morgan, director of collector services at The Royal Mint, said: “If you’re looking to sell a coin on the secondary market and it has an unusually low mintage, it might sell for higher than its face value.”
Errors can also make a coin more valuable.
Coins can get marked by a number of different production faults when they are minted. These include “strike errors” (such as the design being off-centre), “planchet errors”, (such as the wrong size blank metal disc), as well as “die errors” (resulting in coins with differences on their surfaces, such as how dates were punched).
Consumer expert, Martyn James, said: “There’s huge demand for faulty coins on the secondary market. But note that while errors can bump up the rarity value of a coin, they are typically worth more if they are in mint condition.”
What are the rarest 50p coins?
Over the years, the 50p has grown to become Britain’s most collectable coin.
One of the rarest is the Kew Gardens 50p. It was released in 2009 to celebrate the 250thanniversary of London’s gardens, but only 210,000 pieces were ever issued.
It hit the headlines in 2014 when it was revealed as the most scarce 50p in circulation.
Ms Morgan said: “At the peak of the hype surrounding its value, some coins were exchanging hands for hundreds of pounds.”
Other rare 50p coins include the 2011 Olympic series (such as Olympics football, wrestling and judo), as well as the highly collectable Peter Rabbit 2018 coins.
What are the rarest £1 coins?
When it comes to the highest-value £1 coins, some of the most scarce include the 2011 Edinburgh City £1, with only 935,000 in circulation.
This forms part of a series depicting the UK’s four capital cities.
The Cardiff City coin is less rare than Edinburgh, but still valuable, nonetheless.
Round £1 coins stopped being issued in 2017, and were replaced by the 12-sided £1 coin.
Ms Morgan said: “The round pounds are no longer in circulation, so you won’t find any in your change.”
Other rare pieces include the Royal Arms £1 and the Thistle and Bluebell £1.
What are the rarest £2 coins?
It may be hard to remember a time when the £2 coin wasn’t around, but June 2023 marked only the 25thanniversary of this bimetal coin.
The “scarcity index” for this coin remains fairly stable, according to Change Checker.
Ms Morgan said: “This is to be expected, as we’ve not had a £2 coin enter circulation since 2016.”
One of the rarest – and most popular – coins is the 2002 Commonwealth Games Northern Ireland £2 with a mintage figure of just 485,000. This coin could go for more than £40 on eBay.
There is also both an English and Welsh version of the 2002 Commonwealth series, though their mintage figures are slightly higher.
Other rare £2 coins include the Magna Carta, the Mary Rose and the Gunpowder Plot.
What are the chances of finding one in your spare change?
If reading about coin collecting piques your interest in trying to track down rare pieces, you could try regularly combing through the spare change in your wallet, and setting aside the ones you don’t spot very frequently.
Mr James said: “The sheer variety of special edition coins in mass circulation means you might have something lurking in your change jar that is worth far more than its face value.”
But while you could be lucky, in reality few people will actually be sitting on a small fortune.
Mr James said: “Don’t get too excited. Most of these will net you £5-£10.”
But he adds that there are more valuable misprints or collector’s editions, some of which will find their way into the public domain.
To get help identifying and valuing the coins you find in your change, try a site such asCoinchecker.co.uk.
To get an indication of what people are willing to pay, take a look at “sold listings” on eBay.
What’s the difference between circulation and commemorative coins?
When it comes to coin collecting, it’s important to understand the distinction between the coins in your pocket and commemorative ones.
The former are released from The Royal Mint to banks and post offices each year. The latter are designed predominantly to be collectable items and gifts, celebrating key events, anniversaries and themes – and numbers are limited. As they won’t be in circulation, you can’t use them in shops.
In April this year, for example, King Charles III appeared on a set of commemorative 50p and £5 coins, ahead of the May 6 Coronation. But only 5,000 of the special 50p pieces with an image of the crowned king on one side were minted, and these are no longer available to buy.
(In coming years, the King will replace Queen Elizabeth II on all newly minted coins and notes).
If you are thinking about collecting commemorative coins such as these, Mr James cautions against doing so on the assumption your investments are going to rise in value.
He said: “Collect coins because you have a genuine interest in it. Don’t do it because of the coin’s underlying value at any given time.”
What are the most valuable uncirculated coins?
Certain coins will be designated as uncirculated by The Royal Mint. Given such coins should not have been in the money supply, they should not have suffered so much wear and tear.
Mr James said: “A humble 50p piece that’s never been in circulation can, over a relatively short period of time, end up being worth hundreds.”
For example, according toCoinhunter.co.uk, an uncirculated Elizabeth II 2009 Athletics 50p (Blue Peter Winner’s Edition), in brilliant condition, could be worth about £240.
There’s certainly no denying that coin collecting can potentially be a big bucks industry.
Just remember that ultimately a coin is only worth what a collector is willing to pay for it.
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