It’s undeniable: Money makes money. The old adage is literally true in some cases, with coin collectors paying through the nose for certain rare currencies with coinage quirks.
You probably heard about the new AK47 fivers that are actually worth £80k, supposedly, but if you weren’t one of the lucky few who found one in their wallet, fear not because your chance to make a profit on your hard-earned cash is not over.
Coin collectors are now paying over the odds for a special two-pound coin, all because of a minting error.
In 2004, on the 400th anniversary of Guy Fawkes’ death, the Royal Mint released a batch of special anniversary £2’s dedicated to the mastermind of the gun powder plot.
Although they only made a few coins, some of them are now being bid for on eBay – legitimately this time – for up to £50.
All because of a typo.
Most of the coins were emblazoned with the famous poem that we recite every bonfire night:
The fifth of November
Gunpowder, treason and plot…Advertisement
On the side of each coin, the Royal Mint’s new £2 design was supposed to read ‘Remember, Remember’ but on some coins read ‘Pemember, Pemember’ instead.
The coins with the minting error are incredibly rare, and thus, are worth a lot to collectors. It is uncertain exactly how many of these coins are in circulation.
A spokesperson from the Royal Mint said:
It’s likely to be a consequence of the production process.
It’s very, very infrequent that we issue coins with an error. We have quality control to detect any defects.Advertisement
Sounds like a bad day in the office over at the Royal Mint.
Meanwhile, as your ISA’s interest rates plummet, selling your coins for a profit seems like a much better financial solution than hiding your tenners in your pillowcase.
Excuse me while I start a whip-round and dash home to check down behind my sofa for a £2.