The coin needs to be from a specific year and feature a particular error to be especially sought after
An expert has advised people to keep an eye out for two specific words on a 2p coin that could significantly increase its value. A piece from 1983 could fetch more than £1,000 if sold to a collector.
These coins are particularly valuable due to a mistake made by the Royal Mint during their production. They incorrectly display the words “new pence” instead of “two pence”.
This is because all 2p coins minted between 1971 and 1981 were labelled “new pence”. Although this was then changed to “two pence” in 1982, some were produced in error.
In a video shared on the social media platform TikTok, an expert known online as the Coin Collecting Wizard explained. He stated: “This coin is worth over one thousand pounds.
“In 1983 the Royal Mint accidentally minted the two pence coin with ‘new pence’ instead of ‘two pence’. Do you own this coin?”.
“A 1983 two pence coin with the words ‘new pence’ on the reverse. If so you have found the rare valuable error worth over £1,000.
“Make sure to check any 1983 Royal Mint sets for this two pence coin.” He continued: “Just remember you want the 1983 coin two pence ‘new pence’, like this.
“And you can easily sell this to a coin collector for over £1,000. This is only going to go up in value. So, get checking and comment below if you need my help.”
The Royal Mint explains 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.”
One example of this rare coin was being advertised on eBay for £2,499.95 at the time of writing.