People are being encouraged to rummage through their spare change for a rare 2p coin that could be worth £1,000. An expert revealed that this particular coin is highly sought-after, but there’s a catch – it must be from a specific year to hold such value.
The coin in question is a two pence piece from 1983, which uniquely bears the inscription “new pence” rather than “two pence” on its reverse side. This is a significant detail because when the 2p coin was first introduced during decimalisation in 1971, they were all inscribed with “new pence”.
In 1982, the Royal Mint updated the design to read “two pence”. However, a minting error in 1983 led to some coins being struck with the old “new pence” wording.
A coin expert, known as the Coin Collector UK online, guided people on what to look out for in a video uploaded to TikTok.
He said: “Wait, hold up. Your two pence coin could be worth £1,000.
“Want to know why? Well, it is all to do with this right here.
“The words ‘new pence’ all because of a simple wording mistake.
“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.
“These rare error coins were never meant for circulation and most were included in special sets, making them incredibly hard to find.”
He added: “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.”
Currently, collectors can snap up a 1983 2p coin as part of an uncirculated set from that year for a cool £1,250 courtesy of the Britannia Coin Company.
The Royal Mint’s website notes: “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.”
It goes on to say: “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.”