People are being encouraged to check their loose change after a rare £1 coin sold on eBay for an impressive £205.

The seller was a lucky bartender who spotted that they had been given the rare coin in some change.

Standard £1 coin pieces have a gold outside and a silver interior, but the error, and the reason why it makes the coin so valuable, is that it is completely covered in gold - with not a hint of silver in sight. So-called errors in coins currently in circulation can be incredibly valuable and often spark a bidding war between five interested collectors.

The Mirror Online reports there were 24 bids for the coin on the global auction site before it finally sold on August 8 for £205.

A spokesperson for coin experts Change Checker has explained why collectors are so interested in error coins.

They said: "Any coin that is of particular collector interest, perhaps it has a low mintage, a specific error or mis-strike detail, or its design carries a popular theme, may hold a higher value than others."

Change Checker also has an online guide that can help you work out if you've got a coin that's potentially valuable to a collector or best spent in a shop instead.

The scarcity index looks at the rarest 50 pence pieces, A to Z 10p coins and £2s currently in circulation.

They said the most sought-after coin right now is the Kew Gardens 50p.

Experts at Coin Hunter say the Kew Gardens 50p can sell for an average of £156 on eBay, but there have also been instances of the coin fetching up to £200 on the auction site.

If you have a good idea what your coin is worth, one option is to sell it online on auction websites such as eBay, but if you would rather leave it to a professional.

Members of the British Nuismatic Trade Association will be able to help and perhaps sell them on your behalf.

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