Extremely rare £1 coin sells for £2,500 but you must find little-known detail

Some coins can be worth a lot more than you think. Take for example, this one penny coin which is the "rarest in UK history" and it could hold an eye-watering value of £72,000 without you even realising.

Nowadays rare coins are hot topic, whether it's a 20p coin or a 50p coin whatever it is, it's worth more than face value. Now it's time to turn your attention to something a little bit more expensive than those pennies – as it's a £1 coin that could flog for a staggering £500. Instagram user @CoinCollectingWizard, who boasts 30,500 followers, shared some information on the 2016 coin.

He said: "This is a UK £1 and there is a rare dual-dated error worth a lot of money, here is what you need to look out for.

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"You're looking for a 2016 obverse dated coin with 2017 micro-engraving on the reverse so small you might need a microscope."

Discussing the piece, he continued: "We understand that at least one example was sold for £2,500 to a buyer in Spain in 2017.

"The error is particularly difficult to spot due to the size of the micro-engraving so be sure to keep an eye out for this one.

"It's worth checking any 2016 coins as it is one of the hardest errors to spot.

"Remember you are looking for a 2016 obverse dated coin with 2017 micro engraving on the reverse so make sure to check all your £1 coins.

"This is an easy error to miss as it's so small."

So what's important about this coin?

Firstly, this piece marked the final production of the old round £1 coin. It was essentially replaced by the new 12-sided pound coin which entered UK circulation a year later in 2017.

As there were many minted in 2016 to prepare for the 2017 launch, some coins inevitably featured a rare minting error where the micro-engraved date on the rim was incorrect.

This specific error, known as the dual-dated coin, is highly sought after by collectors.

It features the fifth portrait of Queen Elizabeth II and was designed by Jody Clark, with the Latin inscription "ELIZABETH II · DEI · GRA · REG · FID · DEF ·" and the year "2016".

While it might be extremely rare to spot in your change, it's still worth looking as it holds a huge value.