Microscopic detail in rare £1 coin could mean it's worth hundreds of pounds

It's no secret certain coins can hold a greater value than you think. Recently, a rare 50p coin was listed for £15,000 - although a collector pointed out a big issue.

Now it's time to focus on a special pound coin which recently sold for £2,500, although it's worth £500, according to one collector. Instagram user @CoinCollectingWizard, has over 30,500 followers where he shares useful insight into your coin stash.

And recently he shared details about a particular 2016 coin.

He explained: "This is a UK £1 and there is a rare dual-dated error worth a lot of money, here is what you need to look out for.

"You're looking for a 2016 obverse dated coin with 2017 micro-engraving on the reverse so small you might need a microscope."

Elaborating on the specimen, he added: "We understand that at least one example was sold for £2,500 to a buyer in Spain in 2017.

"The error is particularly difficult to spot due to the size of the micro-engraving so be sure to keep an eye out for this one.

"It's worth checking any 2016 coins as it is one of the hardest errors to spot.

"Remember you are looking for a 2016 obverse dated coin with 2017 micro-engraving on the reverse so make sure to check all your £1 coins.

"This is an easy error to miss as it's so small."

But what makes this particular coin so significant?

Firstly, this coin signified the last hurrah for the traditional round £1 coin before it was succeeded by the new 12-sided pound coin introduced into UK circulation in 2017.

With a substantial number minted in 2016 to gear up for the 2017 debut, some of these coins ended up with a rare minting error where the micro-engraved date on the edge was incorrect.

This particular mistake, dubbed the dual-dated coin, is coveted by collectors.

It bears the fifth effigy of Queen Elizabeth II and was crafted by Jody Clark, encircled by the Latin legend "ELIZABETH II · DEI · GRA · REG · FID · DEF ·" and the year "2016".

Although it might be find in your pocket change, it's certainly worth keeping an eye out for as it commands a significant premium.