While most choose to spend their student loans on beer and scruffy digs Daniel is using his for a project questioning the perceived value of money and creativity.

The 21-year-old, studying contemporary art practice at the University of Leeds, is selling the coins in the name of art and he's already turned down an anonymous offer of £100 for one of his artistic creations.

He said the bidder was missing the point of his "If Pound Project" and he believes the £29 loss he will make if he sells all 100 limited editions will be cash well spent.

The second-year student, who has mounted the £1 coins on A5 pieces of laminated white card, said: "I consider it an investment because my printing costs for last year were £45.

"This year I've put some money which I didn't expect to have into something a bit more productive and a bit more unique."

He added: "Money is important to everyone, but it's also important to me and I've decided to spend it on something I care about."

The works went on show at Art's Café, Bar & Restaurant, Call Lane, Leeds, on Monday.

Each comes with a certificate of authenticity and sales are limited to one per person to stop buyers bulk-buying and making more than an instant 29p profit from their purchase.

Daniel hopes his project will encourage debate over ideas of money-worth and value in contemporary art, especially as it is generally seen as overpriced and the key talking point is usually the price tag.
So he set out to deliberately undervalue his art work, which is part of a university project.

After the work is sold, an online list will catalogue each piece's individual journey – whether it has been sold on, treasured or destroyed for the instant profit.

And surprisingly Daniel, who lives in Hyde Park, Leeds, doesn't mind if people choose to wreck their purchase and spend the money, although he believes only a few buyers will.

"I really hope they do because I think that makes it more interesting.

"I honestly don't mind if people do that.

"I think a small percentage might – but especially if they have turned out to the launch event they're not going to cut up the work they have sought after."

Daniel's work is on sale from Art's and www.theifpoundproject. com.
The exhibition ends on May 21.