Rare 2p coin could fetch you up to £1,000 due to massive error

11 July 2023 , 14:06

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This particular coin could potentially fetch up to £1,000 (Image: Coin Hunter)

One 2p coin has been revealed by a coin expert as being worth up to around £800 - and possibly even up to £1,000.

The Tiktok account, @thecoinccollectoruk, shared that the "rare" 2p coin to be keeping an eye out for are the coins with an issue date 1983.

They also have the words "new pence" on the reverse.

According to the Royal Mint website, all 2p coins struck between 1971 and 1981 included the words "NEW PENCE" as part of their reverse.

From 1982 and in the years after the words were replaced with the word 'TWO PENCE'.

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However, in 1983 a small number of 2p coins were mistakenly struck with the wording 'NEW PENCE' on the reverse - this is the most important part of the coin and what makes it valuable.

The Royal Mint said these coins were "produced to a brilliant uncirculated quality" which was high than the ordinary standard of the other circulating 2p coins.

This means they shouldn't have the scratches or blemishes of circulation coins.

According to the website ChangeChecker, it is not known how many of these error coins were struck although most of the time.

Most of the time the 1983 "NEW PENCE" 2p coin could potentially be sold for around £800 according to the Coin Hunter website.

However, if the coin was part of a "special set" then it could reach up to £1,000.

In May, a coin set including the 1983 "NEW PENCE" 2p coin went for £999 on eBay.

Most of the coins affected by the mistake are considered to have been sold to collectors as part of these special sets at the time.

Although there is potential for these coins to separate from the specialist sets and accidentally fall into circulation - so you could end up finding one of these coins.

However, it's worth noting that coins are only really worth what someone is willing to pay for them.

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Experts at Coin Hunter also share a warning for collectors looking to get their hands on this specific coin.

There are some sellers online who are claiming to be selling the 1983 2p coin - but are actually selling a 2p coin from 1971-81.

These coins do have the "NEW PENCE" label on them as they were the first coins issued but they are nowhere near as collectable.

This is because 1.5 billion 1971 2p coins were struck, making it the most common 2p coin issued.

Ruby Flanagan