Rare 2p coin from 1983 could be worth a staggering £1,000 - here's what to look for

Brits are being urged to scour their spare change for a rare 2p coin that could be worth up to £1,000.

An expert has revealed that this particular coin is highly sought-after - but there's a catch.

It must be from a specific year to hold such value.

The coin in question is a two pence piece from 1983, which uniquely bears the inscription "new pence" rather than "two pence" on its reverse side.

This is a significant detail because when the 2p coin was first introduced during decimalisation in 1971, they were all inscribed with "new pence".

In 1982, the Royal Mint updated the design to read "two pence".

However, a minting error in 1983 led to some coins being struck with the old "new pence" wording.

Speaking on social media platform TikTok, an expert known as the Coin Collector UK has been advising people on what to look out for.

He clarified: "Since my last video many people have claimed to have had this rare coin but let me clarify the date you want to find.

"Right here I have four of the new pence 2p coins. So is this worth £4,000? Unfortunately not because all of these were minted in tens of millions as they are not the 1983 version."

He added: "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."

He concluded by emphasising the rarity and value of the 1983 coin: "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."

Collectors may be intrigued to learn that a unique 1983 2p coin issued with 'new pence' mistakenly struck on its reverse can be acquired as part of a special uncirculated set from the same year, currently offered at a price of £1,250 by the Britannia Coin Company.

On their website, the Royal Mint notes: "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."