Rare 2p coin that could be worth £1,000 is circulating in your change - how to spot it

The thrill of uncovering hidden treasures in your coin collection could be more lucrative than you think.

Coin collectors could be sitting on a small fortune without even realising it, as evidenced by the lucky few who have stumbled upon rare 2p pieces that are now worth a staggering £1,000.

While examining your loose change for valuable oddities is always a good idea, one TikTok user has now revealed some crucial insider knowledge that could help you identify the real gem among the 2p coins.

TikTok user @CoinCollectingWizard, who boasts an impressive following of 183,000, shared the exciting news in a recent clip.

He began by revealing: "£1,000 if your 2p says New Pence. There are so many news articles and people on eBay trying to sell the 1971 New Pence Two Pence coin for thousands."

However, he quickly clarified that the true valuable find is actually the 1983 iteration, as he stated: "The problem is this coin is just 2p, the only 2p coin that has a value of around £1,000 is the 1983 New Pence Two Pence coin.

"Here is what you need to look for and where you need to pay attention as I get thousands of comments asking about this."

He then went on to detail the aspects of the 1983 coin that makes it exceptional.

The user added: "So now we know 1971 is just 2p, let's talk about the rare one.

"The 1983 New Pence coin was a mistake in Royal Mint coin packs when they changed the wording from New Pence to Two Pence. If you find a 2p coin, then check it first of all for the words New Pence. If it says New Pence, then check it for the date of 1983."

If you do manage to stumble across this rare find, the 1983 coin could pocket you a cool £1,000, unlike the common 2p from 1971.

After being highlighted on TikTok, the revelation went viral with over 4,300 likes and 300 comments from users who were eager to learn more.

A user enquired: "2p is still 2p, why would anyone pay £1,000?"

Another bragged: "I have all."

While a third person shared: "I have one or two."

And another chimed in: "I have this coin and I'm from Malaysia."