A RARE 1p has sold for a whopping £200,000 at auction due to its specific date.
A coin specialist has urged the public to look out for the 72-year-old penny as it could be worth 20million times its face value.
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The change fanatic known as CoinCollectingWizard on TikTok recently published a video on the 1952 proof 1p, marked by an image of George VI.
This particular coin is the “rarest proof penny” of its entire series of copper and bronze pennies, and has left collectors absolutely astounded.
The TikTokker began the video by saying: “Jiminy Cricket – £200,000 for this old penny.
“The existence of this unique 1952 proof penny was not known publicly until its initial appearance at Numismatic Auctions in October of 1997, some 45 years after it was struck.
“The British Numismatic world was astonished to see this coin appear and in proof quality as this was not known to exist.”
He also said that the coin remains an enigma as it is the “only unique proof striking” of a pre-decimal penny of the 20th century.
The expert goes on to say that the 1p is said to be so unique because it bears the face of King George VI – who died in early 1952.
London-based dealer Sovereign Rarities echoes this and states on its website: “It is perhaps understandable that the George VI 1952 Proof Penny remains a unique piece, as the King died very early in 1952 passing away on February 6.
“Only the smaller denominations of currency coins that were in great demand were struck for circulation in 1952, with the larger denominations omitted in anticipation of a new reign and a new coinage for Queen Elizabeth II.”
According to BullionByPost, proof pennies are the highest quality coin a mint produces.
Issuers like the Royal Mint generally create just a small number of these per year due to the lengthy process required to make them.
Hand-finished dyes and etching by an expert are a huge part of their creation, meaning it takes around an hour to strike 50 proof coins.
The CoinCollectingWizard added: “A lovely example went up for auction recently and sold for £200,000, so it is 100% a coin to look out for.”
It is worth keeping an eye on your spare change as it could be worth a lot more than you think.
Other rare coins which could be worth more include the One Penny which dates back to 1893, but it’s the production error which makes it a valuable find.
The ancient coin features Britannia on the back and the reverse of the coin is the usual Queen Victoria bun head, which is a feature on many coins from this era.
What makes the coin valuable is an error with the number three in the date at the bottom of the coin.
Under the number three of the error coin, it looks like there is the start of a number two.
If the coin features this it could be worth up to £600.
What are the most rare and valuable coins?
How to spot rare coins and banknotes
Rare coins and notes hiding down the back of your sofa could sell for hundreds of pounds.
If you are lucky enough to find a rare £10 note you might be able to sell it for multiple times its face value.
You can spot rare notes by keeping an eye out for the serial numbers.
These numbers can be found on the side with the Monarch’s face, just under the value of £10 in the corner of the note.
Also if you have a serial number on your note that is quite quirky you could cash in thousands.
For example, one seller bagged £3,600 after spotting a specific serial number relating to the year Jane Austen was born on one of their notes.
You can check if your notes are worth anything on eBay, just tick “completed and sold items” and filter by the highest value.
It will give you an idea of what people are willing to pay for some notes.
But do bear in mind that yours is only worth what someone else is willing to pay for it.
This is also the case for coins, you can determine how rare your coin is by looking a the latest scarcity index.
The next step is to take a look at what has been recently sold on eBay.
Experts from Change Checker recommend looking at “sold listings” to be sure that the coin has sold for the specified amount rather than just been listed.
People can list things for any price they like, but it doesn’t mean it will sell for that amount.
We explain further how you can find out if you have a rare coin worth thousands sitting around the house.
How do I safely store valuable coins?
HERE are some tricks to keep your valuable coins safe from toning:
- Store your coins in individual containers
- Put it in a clear, air tight holder that lets you see the coin from both sides
- Avoid putting them in clear plastic sandwich bags because they can still rub against each other an may cause scratches or marks
- Store your collection in a folder or album, although tarnishing may occur quicker than in an airtight container
- Keep them out of a damp environment. You can use silica gel to help prevent damp
- Wear clean, white gloves when handling the coins
- Steer clear of using PVC materials as it traps moisture and releases acidic gases which can damage the collection.
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