Rare 2p coin from 1983 could be worth more than £1,000 - do you have one in your wallet?

Coin experts are urging Brits to check their wallets and coin jars for a valuable misprinted coin that could be worth more than £1,000.

Many Britons could be sitting on a small fortune without even realising it, according to a coin expert.

One specific 2p coin from the year 1983 is said to be worth far more than its face value – and could sell for up to four figures.

But what makes this coin so special and how can you tell if you have one?

According to TikTok creator, the Coin Collector UK, the valuable coin was printed with the words “new pence” instead of “two pence”.

In a video, he explained: “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.”

These error coins were meant to be a part of a commemorative collection, rather than being placed into normal circulation.

The coin expert continued: “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.”

However, it is important that this error is found on coins from 1983 only.

He said: “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.”

Coin experts at Change Checker explained that the error came about after the UK switched to the decimal system.

The website said: “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’.”

They added that affected coins were issued as part of special souvenir sets that also 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!”