Look out for this rare 2p coin from the 1980s that could be worth over £1,000

The coin needs to feature a specific error to be especially valuable to collectors.

An expert has urged Brits to look out for a rare two pence coin that could be worth a staggering £1,000 or more. This unique coin is only valuable if it features a specific error.

The piece, which was minted in 1983, was the result of a mistake after the design of the coin was changed. Valuable versions of the coin will incorrectly feature the words “new pence” on the reverse (the tail side).

In a video uploaded to social media platform TikTok, an expert known as the Coin Collecting Wizard, told his followers how to spot the coin. 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’.” These error coins were part of a commemorative collection, rather than placed into normal circulation.

However, there is still a chance that they could have entered circulation by now, if people opened up the commemorative sets. The expert shared the potential worth of the coin.

He added: “If you find this rare coin, you are looking at £1,000 pounds plus.” 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!”