In just a few days time, that old pound coin in the bottom of your purse will no longer be legal tender meaning you should probably get spending over the next few days.
Before you delve deep into your wallet and panic buy before October 15, give your old pound coin the once over as it could be worth a lot more than it first appears.
The Money Saving Expert has kindly shared eight of the rarest pound coins worth more than just a quid.
October 15 is fast approaching, so grab your purse and see if your old coin is one of the below.
The Scotland: Thistle and Bluebell £1
Issued in 2014, this coin from north of the border is considered “scarce”, with five million minted. It regularly fetches between £3.50 and £5 on eBay.
Northern Ireland: Flax and Shamrock
Five million of the Flax and Shamrock representing Northern Ireland were minted and put into circulation in 2014. The design is by professional calligrapher Timothy Noad and could fetch between £3 and £5 on eBay.
Daffodil and Leek
Issued in 2013 it shows floral emblems of a leek and a daffodil to represent Wales. It was commissioned as part of the first floral series since 1984 and there were more than 5 million made. It is thought that it could now fetch between £3 and £5 on eBay.
Rose and Oak Branch
Another 2013 coin, this time depicting a rose and oak branch, the emblem for England and it also could get up to £5 on ebay.
The Belfast City coin was minted in 2010 as part of the new £1 coin series focusing in the UK's four capital cities. it too, could fetch up to £5 on eBay.
England: London £1
This coin was issued in 2010 as part of the Royal Mint’s series of £1 coins to commemorate the four constituent countries of the UK .
Some are worth more than others, but this London design is considered “very scarce”, with just more than 2.5 million minted. Regularly listed on eBay, this coin currently fetches between £6.50 and £10 – a tidy profit on its face value.
Scotland: Edinburgh City £1
Issued in 2011, this is considered THE most scarce £1 coin available. Fewer than one million were minted – so if you’ve got one, it’s probably a waste to spend it.
On eBay, these regularly fetch up to £20 a time, though some rarer uncirculated versions – often displayed in a commemorative box – have sold for up to £60.
Wales: Cardiff City £1
This coin is also “very scarce”, with just more than 1.5 million minted. The coin was issued during 2011 and shows the Coat of Arms of Cardiff representing Wales. We found two of these listed as sold on eBay this month for £14.99 each.
Does everywhere accept the new coins?
You’ll find that all shops and banks will take them but when it comes to paying for something in an automated machine, like pay & display parking, some machines aren’t yet equipped for the new coins and will reject them.
By October 15 all machines that don’t currently accept the new £1 must be updated to fit it, as there will be no more old round pounds in circulation.
So how do you get rid of your old pounds?
After October 15 shops aren’t permitted to accept or distribute the coins, but will still you have a limited time to exchange your pound coins at most high street banks and the Post Office before they become completely worthless. However, it’s best to check with your bank before carting all your old coins down there.
What’s so different about the new £1 coin?
The most obvious difference is that it’s now 12-sided, instead of being round. On the "tails" side of the coin is the English rose, Welsh leek, Scottish thistle and Northern Ireland’s shamrock emerging from a royal coronet, and on the "heads" side, the usual portrait of the Queen.
It’s made of two metals, with the outer “gold” ring made of nickel-brass, and the inner “silver” circle nickel-plated alloy.
Like the new £5 notes we’ve become used to, the coin is also holographic, so a ‘£’ sign or a ‘1’ can be seen on its face in different light
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