This coin from 1983 is highly sought-after by collectors.
An unassuming coin that could be found in your change could be worth far more than its face value. According to experts, an ordinary-looking 2p could fetch as much as £2,000 when sold to collectors.
In a video posted to the social media platform TikTok, a coin expert known as the Coin Collecting Wizard told people what to look for. He explained that a 2p coin from 1983 is one to watch.
However, it needs to feature a distinct error to be sought-after. “Did you know this two pence coin is actually worth around £2,000?” he said in the clip.
“Want to know what to look for? The 1983 ‘new pence’ 2p coin is one of the few modern UK coins that genuinely holds significant value, but only because it has a minting error.”
On the coin’s reverse side (tail side) you need to look for the words “new pence” instead of “two pence”. He continued: By 1983 all 2p coins were supposed to feature the inscription ‘two pence’ instead of the older ‘new pence’ wording used from 1971 to 1981.
“However, a very small number of coins were accidentally struck with the outdated ‘new pence’ design making them extremely rare.” The mistake occurred following Britain’s switch to decimal currency, as explained by specialists at Change Checker.
The website said: “When the UK switched to decimal coinage in 1971, it was decided that the word ‘new’ would be included in the denomination on some of our coins to avoid confusion between the new decimal coinage and the old currency.
“By 1982 the coins were no longer new so the word was dropped, and the 2p design changed from ‘new pence’ to ‘two pence’.”
It noted that the affected coins were released as part of special souvenir sets that were not intended for regular circulation. The website added: “If you’re lucky enough to find a 1983 ‘new pence’ 2p in your change, not only does the rarity of this coin make it more collectable, but the coin was also struck in uncirculated quality – meaning it won’t have the scratches and blemishes of circulation coins.”
But the Coin Collecting Wizard clarified that the coin needs to be in good condition to sell well. “Collectors prize these error coins especially in high grades and they can sell for impressive sums, sometimes around £2,000 or more,” he said.
“Because of the tiny number in existence finding one in circulation is virtually impossible, which is why it’s such a sought after piece for coin enthusiasts. Just remember what I said, that it is only a 1983 two pence coin and it must say ‘new pence’ instead of ‘two pence’ to be this rare and valuable coin.”