You might want to check in your jeans pockets and down the back of the sofa after a rare £2 was discovered to be worth a lot of money.
The rare find, which affects just 1 in 200 £2 coins is inverted, meaning The Queen’s head shows upside down and could sell for far more than its intended value.
The Royal Mint has confirmed that the coins in question are from a 2015 batch and likely a result of faulty machinery, which allowed a rotation during its striking process.
The news comes as we prepare for the launch of a new £1 coin set to come into circulation in March, which like the £2 coin, is made up of both gold and silver.
The new look marks the first change to its design in more than 30 years, with the coin changing from it’s round shape to a 12-sided version.
The Bank of England recently warned businesses to prepare for the change in advance, launching a new website, which urged firms to adapt and train their staff well ahead of the introduction.
The launch is fast approaching; however there is to be a six-month crossover period, which will allow both the old and new versions to be accepted. The Royal Mint are currently in the process of printing 1.4 billion coins ready for circulation. The design of the coin looks nothing like its predecessor, with a new shape and colouring, but that is not the only difference. It is said to be more difficult to counterfeit, which the Treasury are welcoming following news that approximately one in 30 pound coins currently in circulation are fake. Something that costs the government millions of pounds every year.
The introduction of the £1 coin will be much more turbulent than that of the new £5 note – with pay phones, slot machines, supermarket trolleys, vending machines and lockers just some of the things that will need updating or revamping before March.
The Bank of England will however be hoping for less controversy after vegetarians and vegans called for the Bank of England to produce new versions of the new £5 note after it was revealed that they contain traces of animal fat. The polymer notes, which launched in September last year, are made using Tallow, which is derived from the fat of animals and is also present in many candles and soaps. More than 20,000 people went on to sign a petition following the revelation demanding a new vegan friendly version be created.
It is not the only time the new notes have caused controversy. 1000s signed a petition earlier in the year after it was revealed that Winston Churchill would be replacing Elizabeth Fry as the face of the currency, meaning that there would be no women fronting banknotes in the UK (apart from The Queen). The new £5 was the first British note not to be printed on paper and it is likely that other notes will follow suit over the coming months.
The website detailing the changes can be viewed here.