Rare 2p coin that could be worth £1,000 found in Brits' change

TikTok user @‌CoinCollectingWizard explained: “Did you know about the New Pence 2p coin worth £1,000? Don't worry though this one is 1971 and not the rare date.

Brits are being urged to check their change thanks to a rare 2p coin that could be worth up to 50,000 times its original value.

A rare mistake on the coin issued in 1983 makes it a hot target for rare coin collectors, the Swindon Advertiser reported.

TikTok user @CoinCollectingWizard explained: “Did you know about the New Pence 2p coin worth £1,000? Don't worry though this one is 1971 and not the rare date.

"Want to know what rare New Pence coins to look out for, keep watching. After the design changed from New Pence to Two Pence in 1982, a mistake was made during production of a small number of 1983 coins."

The key feature of the misprinted coins show the 1983 date, but the words “new pence” instead of “two pence”.

“If it says New Pence on the reverse instead of the words Two Pence then you have found it,” CoinCollectingWizard explained.

“If you are lucking enough to find a 1983 New Pence 2p in your change, then it is worth around £1,000. You are more likely to find the coin in the 1983 Royal Mint set though as this is where the mistake happened."

Printing errors and other strange occurrences can result in odd coins that become valuable.

In 2014, a £2 coin featuring Lord Kitchener was issued with a printing error. There are believed to be around 800 versions of the coin that have the error on.

Earlier this year, the Treasury denied that 1p and 2p coins are to be scrapped after none were ordered from the Royal Mint this year.

Reports had suggested the coins could be reaching the end of their life amid the continuing decline in cash use.

A Treasury spokesperson said in July: “We are not scrapping any coins. With estimates there are approximately 27 billion in circulation in the UK, many of which will be 1p and 2ps, we are confident there are enough coins in the system to meet demand.”

The number of coins issued into circulation reflects demand levels from UK banks and post offices. The Royal Mint responds by issuing coins on behalf of the Treasury, which ultimately decides how many new coins are issued into circulation.

The Royal Mint said in a statement: “The Royal Mint’s core purpose is to make UK coins, and we continue to work closely with the Treasury to meet demand from UK cash centres.”

No 1p coins were minted in 2018 or 2019 and no 2p coins were minted in 2018, 2019, 2020 or 2022, according to figures on the Royal Mint’s website.