An expert explained exactly how to spot this valuable coin.
Brits are urged to keep an eye out for a highly valuable coin that could fetch up to £1,000. This seemingly ordinary two pence piece is highly sought after by collectors.
However, the coin, from 1983, is only valuable if it features a specific error. This mistake has been verified by the Royal Mint as was thought to affect just a “small number” of coins from that year.
In a video uploaded to social media platform TikTok, a coin expert known as the Coin Collecting Wizard explained more. He said: “Your two pence coin could be worth £1,000. Want to know why?”
The error you need to look for means that instead of the standard words “two pence” on the coin’s reverse side (tail side), it will say “new pence”. This was the standard phrase used on these coins following decimalisation but it was meant to change in 1982.
“Well it is all to do with this right here, the words ‘new pence’ all because of a simple wording mistake,” he continued. “In 1982 the Royal Mint officially changed the wording on the coin from ‘new pence’ to ‘two pence’ to reflect that decimalisation was now well established.
“However, in 1983 a small number of 2p coins were accidentally struck using the old new pence dies.” Although this coin could be “hard to find”, it’s still worth looking for it in your change.
He said: “These rare error coins were never meant for circulation and most were included in special sets making them incredibly hard to find. If you spot a 1983 2p coin with ‘new pence’ on it rather than ‘two pence’ you are holding a £1,000 mistake in your hand.
“But you must remember this important information – the only valuable new pence coin is in fact the 2p coin from 1983, none others.”
The Royal Mint notes on its website: “In 1983 a small number of 2p coins were mistakenly struck with the wording ‘new pence’ on the reverse. These coins were produced to brilliant uncirculated quality – a standard higher than ordinary circulating coins – and were included in special sets intended for collectors.
“Since there are relatively few coins with the date 1983 and the inscription ‘new pence’ in circulation, they may well have a value higher than face value to a collector. The Royal Mint is, however, unable to comment on the value of any individual coin and we would recommend that you should consult a coin dealer.”
At the time of reporting, an example of the new pence two pence coin was listed on eBay for £1,999.95.