Rare 2p coin minted in 1983 could be worth £1,000 - check your spare change now

Coin enthusiast shares how to spot the error coin that could make you a small fortune

A coin collector has urged people to check their spare change after revealing that a specific coin could be worth up to £1,000.

Despite the increasing shift towards digital payments and online banking in the UK and globally over the past decade, there are still benefits to using physical cash. Not only can it aid in budgeting during times of rising living costs and inflation, but it also reduces the likelihood of overspending or making impulse purchases.

However, another reason to keep hold of those seemingly worthless coins is their potential value.

One coin collector has highlighted a specific coin that could be worth up to £1,000, urging his followers to keep an eye out for it.

On his TikTok channel DansDollars, a coin enthusiast shared insights into the value of a seemingly ordinary two pence piece from 1980. He detailed the features of the coin, saying: "This is the 1980 two 'new pence' coin first released into circulation in 1971," and added, "The two 'new pence' design stayed on coinage until 1982, well supposedly."

Showing off the coin's design, he pointed out the portrait of Queen Elizabeth II and the Latin inscription which translates to 'by the grace of God, Queen, Defender of the Faith', alongside the year 1980, reports the Mirror.

On the reverse, he displayed the feathers from the badge of the Prince of Wales. Despite its detailed design, he noted that the coin is generally worth just its face value of two pence.

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However, he revealed an intriguing fact about a subsequent issue, stating: "In 1983 the two 'new pence' changed to the two pence," while showing a different coin. He explained the rarity of an error coin from 1983, which could be worth a significant sum: "So if you've got a 1983 two 'new pence' coin at home, your coin is an error coin and it's worth £1,000 - yes you heard that correctly," he exclaimed with enthusiasm.

Holding up both coins for comparison, he invited viewers to check their own collections: "Let us know if you've got it, it really would be incredible."