Brits are being urged to keep an eye out for a rare two pence coin that could be worth £1,000. The coin, from 1983, gained value due to an error made during a redesign.
Collectors are on the hunt for those with "new pence" mistakenly stamped on the reverse side - instead of the words "two pence". On TikTok, a content creator known as the Coin Collecting Wizard, has been offering tips on how to spot this elusive treasure.
As reported by Wales Online, he explained: "The 1983 'new pence' two pence coin from the United Kingdom is considered rare due to a specific transition in the design of the coin. In 1983 the Royal Mint in the UK began the process of changing the inscription on the two pence coin from 'new pence' to 'two pence'."
Some of these coins were erroneously included in commemorative sets not meant for general circulation. If such sets were opened, these coins might have inadvertently entered public hands, making them accessible to those with a keen eye.
The TikTok coin guru underscored the potential value of these coveted coins. He stated: "If you find this rare coin, you are looking at £1,000 pounds plus."
This blunder took place after Britain transitioned to decimal currency, as noted by experts at Change Checker.
The website explained: "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'."
It highlighted that the particular coins were part of special souvenir sets not meant for everyday spending.
Furthermore, it added: "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, while the complete 1983 coin sets have fetched over £1,000 on the secondary market!"
