Rare 2p coin from 1983 could be worth more than £1,000 - check your wallets NOW

TikTok creator, the Coin Collector UK, revealed that a specific 2p coin from the year 1983 could be worth far more than its face value.

A TikTok coin collector has revealed that a specific 2p coin from 1983 could be worth a staggering £1,000 - but only if it has one key detail.

The coin collector, known as the Coin Collector UK on TikTok, revealed that a 2p coin from 1983 with the words “new pence” on it instead of “two pence” could be worth a small fortune.

The coin expert explained in a video: “Do you have the two pence worth £1,000?

“The 1983 new pence two pence is one of the rarest British error coins that sells for up to four figures.”

However, the coin expert is referring to a specific type of error coin, as he adds: “In 1983 the Royal Mint accidentally minted two pence coins with ‘new pence’ on them in the 1983 year sets.

“This was a mistake and they should have said the words ‘two pence’.

“Like all errors the exact number minted is unknown, as they were not supposed to be produced in the first place.”

But the coin expert is keen to stress that this error is only found on coins from 1983.

He adds: “Other years of the new pence two pence are very common and don’t hold any collector’s value.

“Billions of these went into circulation to celebrate the introduction of the new coin.”

The error occurred after the UK switched to the decimal system, experts at Change Checker explained.

The website reads: “When the UK switched to decimal coinage in 1971, it was decided that the word ‘new’ would be included in the denomination on some of our coins to avoid confusion between the new decimal coinage and the old currency.

“By 1982 the coins were no longer new so the word was dropped, and the 2p design changed from ‘new pence’ to ‘two pence’.”

The website adds that the affected coins were issued in special souvenir sets that did not enter general circulation.

They said: “If you’re lucky enough to find a 1983 ‘new pence’ 2p in your change, not only does the rarity of this coin make it more collectable, but the coin was also struck in uncirculated quality – meaning it won’t have the scratches and blemishes of circulation coins.

“The individual 1983 2p coin has been known to sell for between £500 – £700, however the 1983 coin sets have been known to sell for over £1,000 on the secondary market!”