It is no secret that some rare coins are worth a significant amount of money without you realizing it. You could have the rarest coin in UK history hiding in your stash or the 50p coin which is skyrocketing in value. Now, all UK households are being urged to examine their coin collections for this two penny coin which is rising in value.
Some pennies are widely circulated, so the likelihood of finding one in your home can be quite certain. However, before you get carried away, the rare coin you need to look for has a specific date that makes it even more desirable to collectors.
Rare 1983 New Pence 2p Coin Error Explained
On TikTok, user @CoinCollectingWizard, who boasts nearly 270,000 followers, shared a video of himself cleaning a coin worth a staggering £1,000 before he shared information about the desirable piece. He said: "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."
In the clip, he later explained how these coins were actually struck with the old inscription "New Pence." He added: "If it says New Pence on the reverse instead of the words Two Pence, then you have found it. If you are lucky 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."
When these coins are found by collectors, they could sell for £400-£700, but in some cases can be sold for thousands. The collector claimed that in this day and age, the coin could hold a higher value. As he shared the clip with his fans, many rushed to comment. One said: "I have it," while another added: "Worth thing to do to a coin."
Why Are Certain UK Two Pence Coins Worth More Money?
When the UK transitioned to decimal currency back in 1971, the coins were marked with "NEW PENCE" to avoid confusion. However, this was phased out in 1982 when the wording switched to "TWO PENCE." Now, if you find the 1983 coin, it can sell for hundreds of pounds, if not thousands, while the original is still worth 2p.
The 1983 'New Pence' error is desirable to collectors due to the production mistake where a small handful of these coins were struck with the old inscription. Because these 1983 error coins were only released in special presentation sets (not in general circulation), they can be incredibly rare to come by.
Genuine 1983 "New Pence" 2p coins can fetch anywhere between £500 to over £1,000 at auction, depending on the condition and whether they are still in their original packaging.
