Test versions of the new £1 given to businesses to prepare them for the coin switch are on sale for 310 times their value on eBay
Avid collectors have been snapping up versions of the new £1 coin on eBay for more than 300 times their face value.
Some 200,000 uncirculated versions of the coin were sent out as part of sets or to retailers to test ahead of the launch – but are now being sold for as much as £310 online.
However the coins are not legal tender and cannot be used in shops, according to the Royal Mint.
The test coins are not legal tender and cannot be used in shops, according to the Royal Mint Some 200,000 uncirculated versions of the coin were sent out as part of sets or to retailers to test ahead of the launch – but are are being sold for hundreds online
The Royal Mint issued over 200,000 trial samples of the new 12-sided £1 coin to industry stakeholders, for calibrating or upgrading coin handling equipment ahead of the coin’s introduction today.
They are marked with the word ‘trial’, do not have legal tender status, and have no redeemable value.
The coins could, however, eventually become valuable among collectors.
The 1994 trial £2 coin can now sell for around £150, but only 4,500 packs were released for the coin at the time.
While the test coins are being sold for a profit, thousands of ‘Brilliant Uncirculated’ coins sold by The Royal Mint for £10 are designed to be kept as souvenirs.
The coins could, however, eventually become valuable among collectors The new 12-sided £1 coin entered circulation today – but test versions are selling online for hundreds of pounds The new coin (pictured) has been designed by the monetary wizards at the Royal Mint to beat the forgers
The old coin and the new coin will co-exist together for a period of around six months, until the round pound ceases to be legal tender on October 15.
The new coins have been made at the Royal Mint in Llantrisant, South Wales, at a rate of three million per day.
They have a gold-coloured outer ring and a silver-coloured inner ring and are based on the design of the old 12-sided threepenny bit, which went out of circulation in 1971.
It might take a few days or weeks for people to start seeing the new £1 coins turn up in their change as they gradually filter into general use.