A 20p worth £50?

Monday, 29 June 2009 12:00

A mistake at the Royal Mint could turn hundreds of thousands of 20p pieces into the best investment on the high street.

Last year a single batch of between 100,000 and 200,000 20p coins were minted without a date - making them collectors items worth up to £50.

The London Mint Office, a distributor of collector coins, has established a website - www.undated20p.com - to buy 10,000 of the coins, paying £50 each.

Nick Hart, coin expert at London Mint Office, said: "Mistakes like this not only fascinate people but also have considerable value-increase significance.

"We believe this extremely rare error will certainly get the public looking at the coins in their pockets."

He added: "If you hunt around and find one you're extremely lucky."

It is estimated between 50,000 and 200,000 of the undated coins are in circulation.

The last time undated coins were issued was over 300 years ago - and the mix-up occurred due to the new design.

Last year the Royal Mint issued 1.3 billion UK coins and there are now 2.4 billion 20p coins in circulation.

This means at best with one 20p coin you have a one in 12,000 chance of having one that is without a date.

The Royal Mint states the coins are still legal tender without the dates and can be used as any other coin.

A Royal Mint spokesperson said: "The Royal Mint can confirm that a small number of new design 20 pence coins have been incorrectly struck using the obverse from the previous design, resulting in these coins having no date.

"The issue has now been resolved and the Royal Mint would like to reassure members of the public that these coins are legal tender."

She added: "Prior to the new reverse designs which were launched in April 2008, the date appeared on the reverse side of the 20p. As the date on the new designs has been moved to the obverse side, minting the coin with the new reverse but previous obverse has meant no date appears on the coin."

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