The 12-sided £1 coin came into circulation just over a week ago.

It has been described as one of the most secure coins in the world thanks to its numerous anti-counterfeit features.

But it could be possible that your new coin is worth more than its £1 face value.

Coins can often become valuable when they have been made with a subtle or small minting error, which makes them sought after by collectors.

Currently, there are two 12-sided £1 coins on eBay being flogged for £1,000 each. Could yours be as valuable as this?

Here's how to tell if you have a special edition model.

And remember, if you think you have one, take it to an expert to be appraised.

Trial coins

In 2016 more than 200,000 new coins were sent out to retailers for testing. These are known as 'trial' coins and are not legitimate legal tender. They are being sold on eBay, one is currently on sale for £135.

Die errors

Die errors are caused by the mint dies - either wearing down over time - or dies that have not been prepared identical to others.

The £1 coin is bi-metallic, it is made with an outer 'gold' coloured nickel-brass band and has an inner 'silver' coloured cupro-nickel disc.

Die errors happen during production when dies have become misaligned. These coins could be worth a lot of money.

To check yours, look at the floral crown on the reverse side for any rotations. Also look at the Queen's head which should sit directly above the new bevelled edge.

Crowns stamped in 2016

A large number of coins were stamped and priced in 2016. Some of these are being sold on eBay for £1, 000 .

Whilst another is on the market for £400 .

If you are considering buying one always do your research beforehand.

Proof coins

These are special pre-production samples which are often used for approval purposed and are produced to a higher standard of finish.