The new look £1 coin is not even in circulation yet but that hasn’t stopped some collectors from auctioning off the new denominations for big money online.
Due to be released in the UK on March 28, the new denomination has already been spotted online with the Birmingham Mail reporting that as many as 200,000 of the coins have been sold on eBay already.
According to the news source, this coins found their way online after being offered up to collectors as trial coins for “testing” earlier this year.
Several of the coins have since been put up for auction, fetching up to £200 each.
However, what many of those purchasing the coins may not realise is that these new “trial” coins aren’t actually that rare and can’t actually be used as legal tender.
Each coin comes marked with the word “trial” which means they have little in the way of redeemable value.
Despite this, some experts are predicting that the value of the pieces may still go up, given some of the prices witnessed online already.
The original £1 coin is set to stop being accepted as legal tender on October 15, ending a period of 30 years in circulation.
It is hoped that the new pound coin will become one of the most secure versions of the currency ever created, following a rash of fake pound coins being put into UK circulation.
One key feature of the new look £1 is a special hologram symbol designed to ensure authenticity.
In the meantime, people are being urged to spend any and all £1 coins they currently own before they become useless.
Loaded staff writer Jack Beresford has produced content for Lad Bible, Axonn Media and a variety of online sports and news media outlets.