Brits are being encouraged to keep their eyes peeled for a two pence coin that could be worth a staggering £1,000. This ordinary-looking 2p piece is in high demand among collectors.
The catch is that the coin, minted in 1983, is only of high value if it bears a particular error. The Royal Mint has confirmed this mistake, which was initially believed to affect only a “small number” of coins from that year.
In a TikTok video, an expert who goes by the name Coin Collecting Wizard shed light on the matter, stating: “Your two pence coin could be worth £1,000. Want to know why?”.
The sought-after error involves the coin’s reverse side (tail side) bearing the inscription “new pence” instead of the standard “two pence”. This phrasing was typical post-decimalisation but should have been changed in 1982.
He elaborated: “Well it is all to do with this right here, the words ‘new pence’ all because of a simple wording mistake,” adding, “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.”
Despite the rarity, he pointed out that in 1983, a few 2p coins were mistakenly struck with the outdated ‘new pence’ dies. While such a coin might be “hard to find”, it’s certainly worth checking your spare change for this potential treasure.
The expert 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.”
As stated on the Royal Mint’s 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 such coin was listed on eBay for £1,999.95 at the time of reporting.
