Rare £2 coin that could earn you a small fortune - but only if it's in mint condition

The unusual gold £2 piece was minted only 13 years ago in 2012. Yet, it is historically important to Britain and marks a global event.

People are being urged to look out for a rare £2 coin that could earn you a small fortune.

The unusual gold £2 piece was minted only 13 years ago in 2012. Yet, it is historically important to Britain and marks a global event.

The Royal Mint says: "Struck to commemorate the transition of the Olympic Games from London to Rio de Janeiro, the 2012 Olympic Games Handover £2 coin symbolises the passing of the Olympic flag from one host city to another. The reverse design, created by Jonathan Olliffe, depicts a baton being passed between two hands, with the flags of the UK and Brazil joined in motion.

"Like its predecessor, the coin carries the edge inscription 'I CALL UPON THE YOUTH OF THE WORLD'." In 2012, London made history as the first city to host the Olympic Games three times, having done so already in 1908 and 1948, reports the Mirror.

It saw more than 10,000 athletes compete across 26 sports at the newly constructed Queen Elizabeth Olympic Park in Stratford. When it was time to 'handover' the games to Rio de Janeiro, Brazil, just 1,200 gold £2 coins were made to celebrate the occasion, according to MJ Hughes Coins.

This is partly why they are deemed so valuable, with coin dealers at Bullion By Post and Chards listing gold editions at £1,558 and £1,478, respectively. "The 2012 Olympic Handover to Rio £2 coin was issued to mark the handover from London to the next Olympic Games host, Rio de Janeiro," Chards writes in regards to the '2012 UK Coin £2 Gold Proof Olympic Handover to Rio'.

"The 2012 Olympic Handover £2 coin was also produced in the following finishes: uncirculated, brilliant uncirculated in a presentation folder, silver proof and silver proof piedfort." Despite these impressive valuations, it's crucial to note that a coin's worth is heavily influenced by its condition.

Chris Yang, co-founder of Coins Value, has previously said: "Coins in perfect 'mint' condition are worth far more than their well-worn, damaged, and poor-condition counterparts. Sometimes a minor difference in grade translates to hundreds, maybe thousands in value."

Aside from this, he also said it is 'best practice' to hold on to rare coins, unless the need for money is urgent. "The better issues of these important coins gain in value over time," he continued. "The prices of these scarce coins are subject to some uncertainty based on alterations in the overall market and economy.

"When selling, shop around various dealers and obtain the best price. An auction house is considered to achieve the maximum value for really spectacular pieces. Be prepared to pay a 10-20% commission on the selling price."