Do You Own A £1 Coin Worth £35 To £100?
DATE POSTED: 24/04/2017
DATE POSTED: 24/04/2017
Mastercard recently issued ill-considered advice that could deny you significant and easy profits!
传奇sfThey reckon British savers will lose more than a billion pounds this year. And that YOU might be one of the losers.
The Royal Mint have introduced a re-designed £1 coin which will ultimately replace all the £1 coins currently in circulation. A Mastercard study found that 87% of Brits are unaware of this impending change.
传奇sfYou only have until October 15th to exchange old coins for new ones. After that date, your £1 coins will be worthless. You won't be able to spend them. You won't be able to exchange them.
Mastercard worry that Brits will forfeit up to £1.1 billion by failing to change-up in time. They urge savers to act well in advance of the October deadline.
They make a good point. Their intentions are good. I don't doubt it. They are trying to help. They are trying to save you money.
But Mastercard are also missing a crucial trick...and I'm worried that their advice might cost you more money than it saves!
The fact is that some £1 coins are more valuable than others. You might say that some £1 coins are special.
传奇sfI'm not talking about coins that haven't been in circulation for years. I'm talking about coins you could be given every day in your change at the pub, the newsagent or from the a vending machine.
Some £1 coins are much rarer than others. Collectors and dealers will already pay much more than face value for these rarities.
The Royal Mint are not producing any more of these highly-sought-after coins.
传奇sfAnd many rarities will disappear from circulation when unwitting savers - who don't know what they have in their possession - swap them for the new version of the £1 coin!
Instead, you want to retain them. You want to hold onto them for the long-term. Because they are only going to increase in value.
Exchanging them now for the new coin would be to throw away a big future profit.
Have you got a valuable 'Edinburgh' in your pocket?
The Edinburgh - as it is referred to among collectors - is the best £1 coin to have in your possession. It's worth going through your pockets and your change tins, to see if you have one!
传奇sfThe coin was released by the Royal Mint in 2011...and it could pass through your hands without you even noticing it.
传奇sfLook closely and you'll see the design on the reverse depicts Edinburgh Castle. The word Edinburgh appears above the image. The edge inscription reads NISI DOMINUS FRUSTRA.
The key point about this coin is that only 935,000 were minted. That sounds like a lot...but it isn't. Not when you consider that £1 coins are usually minted in quantities running into tens of millions.
传奇sfIn terms of national currency, a mintage figure of just 935,000 means a coin is very rare. You might go your whole life without coming across one. But if you do have one in your possession, you are sitting on a definite profit.
On eBay Edinburgh £1 coins have recently been auctioned with a reserve price of £35 and a Buy Now option of £100. Not bad for a coin that only buys a pound's worth of butter or petrol! :)
Experts fully expect Edinburgh £1 coins to significantly increase in value in the years ahead. You certainly don't want to be exchanging an Edinburgh for a new £1 coin as Mastercard suggest.
Click here to read more about the rare Edinburgh...and other valuable coins in circulation.