TWO extremely rare 2p coins that might be worth up to £1,000 could be sitting in your wallet right now.

The Royal Mint manufactures an average of two billion coins a year - and now and then there are production errors.

Two extremely rare 2p coins that might be worth up to £1,000 could be sitting in your wallet right now.

The Royal Mint manufactures an average of two billion coins a year - and now and then there are production errors.

These errors actually make the coins highly valuable for collectors.

TikTok user @coincollectingwizard has shared two of the errors you should look out for on your 2p coins that could make you a small fortune...

Silver 2p coin

The 2p coin was originally minted from bronze, but since 1992 it's been made with copper-plated steel.

That gives it its distinctive copper look.

However a small number of 2ps have accidentally been minted on the same base as the silver 10p coin. They are therefore silver as they have been manufactured with nickel-plated steel.

If you find a silver 2p coin, you're in luck as it could sell for more than £1,000.

Back in 2016, a silver 2p sold for £1,350 - which is 67,500 times its face value. It was nearly thrown away as a presumed fake after it was discovered in a Poppy Appeal tin.

1983 'New Pence' 2p coin

Another rare 2p is the 1983 'New Pence' coin.

Between 1971 and 1981, all 2p coins were struck with the words 'New Pence' on their reverse. Since 1982 this inscription has been replaced with the word 'Two Pence'.

But in 1983 a small number of coins were mistakenly struck with the wording 'New Pence' on the reverse.

The Royal Mint says these coins were "produced to brilliant uncirculated quality", meaning they are a standard higher than most coins in circulation. They were also included in special sets intended for collectors.

Since there aren't many of these error coins in circulation, collectors will want to get their hands on them.

What other rare coins should you look out for?

One of the most collectable coins is the 50p.

Among the most valuable of these is the Kew Gardens design, which was created in 2009. Only 210,000 of these special coins were made.

According to The Royal Mint, the Kew Gardens 50p has become one of the most talked about collectors coins in the last 15 years.

One recently sold on eBay for £157.

Other 50ps to look out for are the Olympic designs.

These were released by the Royal Mint in 2011 to celebrate the London 2012 Olympic and Paralympic Games.

Some are more rare than others, but all are becoming increasingly difficult to find in your change.

What should you do if you find a rare coin?

It's worth remembering that a rare coin is only worth what someone is willing to pay for it.

They might be happy to pay more if it will complete their collection, for example.

The Royal Mint has said it is unable to comment on the value of any individual coin so it is best to consult a coin dealer.

You can do this by contacting the British Numismatic Trade Association.

You can visit their website at: www.bnta.net.

If you want to get an idea of how much your coin is worth, you can look online to see what it's sold for previously.

On eBay you can look at the "sold listings" to see what people have paid before.

What are the most rare and valuable coins?coins