DUMMY MACHINE CALIBRATION ONE POUND COINS

Of greatest interest to budding numismatists and shameless profiteers alike are the 200,000 “dummy” coins distributed to major retailers and businesses months before the official roll-out date of March 28 to enable them to recalibrate coin-handling machinery well in advance.

The Mint may have described these “trial” stamped coins as of “no redeemable value”, but they are changing hands for serious sums. Bidding online appears to start somewhere between £150 and £250.

As well as the trial coin for the new £1 piece, which does not appear to carry any of the filigree bevelling and holographic imaging that has led the official version to be dubbed “the most secure circulating coin in the world”, collectors have also been advised to be on the lookout for inadvertent errors that have crept into the real thing.

Alex Cassidy, from GoCompare’s Coining It In, told The Mirror that the new £1 coin’s bi-metallic nature, with an outer gold-coloured nickel-brass band and inner silver-coloured cupro-nickel disc, left the potential for errors during the die-cutting process.

“Punters should pay attention to both the floral crown on the reverse side for any rotations, as well as the Queen’s head, which should sit directly above the new bevelled edge,” he said.

Nor should anyone be too hasty in exchanging their old pound coins before they cease to be legal tender on Oct 15.

Many coin enthusiasts will be hoping to complete their collection of all 24 of the old designs, and the Edinburgh £1 dating from 2011 is already achieving £10 to £15 on eBay.

To read the complete article, see:
Rare new £1 coins could make a big profit online (www.telegraph.co.uk/news/2017/04/09/rare-new-1-coins-could-make-big-profit-online/)

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