Rare 2p coin could be worth £1,000 - but only if it has THIS specific date

A rare 2p coin could be stashed away in your piggy bank or down the back of the sofa and it might just be worth a small fortune.

An expert, known on TikTok as the Coin Collector UK, has shared some key details about the coin that could fetch up to £1,000.

However, it’s not just any old 2p coin that will bag the jackpot.

The coin highly sought after by collectors is one from 1983, which due to a minting error carries the "new pence" inscription, not seen since the wording was changed to "two pence".

Originally, when the 2p coin was introduced in 1971 following the switch to decimal currency, they all read "new pence".

As reported by The Mirror, it wasn’t until 1982 that the Royal Mint rebranded these coins with "two pence".

But some eagle-eyed TikTok users were left convinced they had struck gold after spotting the "new pence" inscription on their 2p coins.

However, the Coin Collector UK was quick to burst their bubble and clear up any confusion.

Disregarding widespread misbelief, he further clarified: "Loads of new pence ones were minted up until 1981 and the error version is only the 1983 one.

"This one was not meant to exist because they stopped being produced in 1981.

"Hence, why it's worth so much.

"So now you know, that only the 1983 version is the one worth £1,000.

"If you find any of the others they are extremely common and just worth 2p face value but are still a cool find as some of the earliest 2p coins."

At the time of reporting a 1983 2p coin with "new pence" mistakenly struck on its reverse is available as part of a special uncirculated set from the same year, priced at £1,250 by the Britannia Coin Company.

The Royal Mint notes on its website: "In 1983 a small number of 2p coins were mistakenly struck with the wording 'new pence' on the reverse.

"These coins were produced to brilliant uncirculated quality - a standard higher than ordinary circulating coins - and were included in special sets intended for collectors.

"Since there are relatively few coins with the date 1983 and the inscription 'new pence' in circulation, they may well have a value higher than face value to a collector.

"The Royal Mint is, however, unable to comment on the value of any individual coin and we would recommend that you should consult a coin dealer."