Brits are being encouraged to rummage through their wallets and coin collections for a rare error £1 coin that has recently entered circulation, featuring King Charles III and a distinctive bee design.

The Coin Collector UK, an expert with a substantial following on TikTok, has highlighted that this particular coin could fetch over £1,000 if it bears a certain minting mistake.

He advised his 145,000 followers: "Check all your bee pound coins. Brand new bee £1 coins entered circulation just last month and an extremely rare error has been discovered within a month."

He revealed that the error was first noticed by a Post Office employee who saw the new coins being distributed to the public.

The sought-after error coin is entirely gold, lacking the standard gold rim with a silver cupronickel centre.

The expert elaborated: "They noticed an all-gold pound coin that had clearly been minted by mistake. Our 12-sided one pound coins are supposed to be gold only around the edge, with a circular silver cupronickel part in the middle."

Although no sales of these coins have been recorded yet, he estimated their value to be upwards of £500, potentially exceeding £1,000 for eager collectors.

He concluded: "Errors like this are often snapped up by error collectors, and they aren't cheap," reports the Mirror.

"They sell potentially for hundreds of pounds, due to their rarity and also the fact that they should not even exist in the first place. The exact price this would sell for is unknown.

"But an estimate of £500 plus seems fair. If it goes to auction, who knows it could reach over £1,000 if someone really wants this rare coin in their collection."

According to the Royal Mint, the bee design is part of a new collection of coins "inspired by Britain's natural habitat".

They were unveiled in early October, with each design "highlighting His Majesty King Charles III's passion for conservation and the natural world."

The Royal Mint says: "The new coins mark the final chapter of His Majesty King Charles III's transition onto British coinage. Several million of the coins are currently in production at The Royal Mint.

"The 50p will be the first coin to enter circulation and is expected to appear in people's change by the end of November, with other denominations expected to enter circulation from 2024 in line with demand."